The government is launching a review of state-owned economic enterprises to decide which ones should be restructured, a Ministry of Finance official told The Myanmar Times.
The review, which will cover all state-owned enterprises (SOEs), will help the government decide whether an SOE should be corporatised, privatised or remain government-owned, according to U Maung Maung Win, permanent secretary at the Ministry of Finance and director of the Treasury Department.
Analysts have long identified SOE reform as a key task for Myanmar, and one that could prove an important driver for economic growth. In many cases SOEs are struggling – they are both unprofitable and overstaffed. Those in extractive industries, meanwhile, receive huge proceeds from their operations, much of which sits in poorly understood “other accounts” and which cash-strapped government ministries – like health and education – cannot access, according to a recent Extractive Industries Transparency Initiative report. (Courtesy of Myanmar Times)
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