The Ministry of Industry has invited private firms to go into partnership for the management of 17 more state-owned factories which are running at a loss.
The ministry has already announced that No.36 Heavy Industry factory in Kyaukse, Mandalay Region, was leased out on a long-term basis.
The government is now inviting domestic and foreign entrepreneurs to run its factories on a joint-venture basis as they are no longer profitable. The ministry has 118 factories and industries and 59 have become joint-ventures.
The announcement stated that firms were invited to cooperate with the ministry in running the No.16 Heavy Industry factory in Hsinte that manufactures farm machinery and equipment.
The Industry Ministry is planning to review the state-owned factories and industries, draw and implement action plans, reform the state-run factories that are a burden on the state and reduce the red tape and strict procedures that hinder private industrial development.
Stressing the need to train skilled workers and disseminate production techniques for private industrial sector development, the ministry has promised to provide its technology and assistance in creating links with product markets.
Aung Ye Ko