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State-Owned Hotels to Be Privatized
Subject: State-Owned Hotels to Be Privatized in Myanmar
State-Owned Hotels to Be Privatized in Myanmar
YANGON (Feb. 19) XINHUA - A total of three state-owned hotels in the country's
northern Shan state will be privatized for continuous business operation as
part of Myanmar's privatization scheme, according to the Privatization
Commission (PC) Friday.
The hotels to be leased through competitive bidding are Kalaw, Innlay and
There are now 523 hotels in Myanmar, according to available figures.
In January, the PC announced privatization of 68 other state-owned economic
enterprises (SEE), which include four factories, seven rice mills and 57
According to official statistics, a total of 134 state-owned cinemas and more
than two dozens saw mills have so far been privatized in Myanmar. Some 42
factories and two livestock breeding farms have also been designated
be sold through competitive bidding.
Myanmar has, since January 1995, been implementing a privatization plan for
SEEs, aimed at transforming them into effective business organizations.
The first phase of the scheme covers 51 SEEs including processing and
manufacturing factories, livestock breeding farms and cinemas, and is being
implemented in various forms -- auctioning and leasing out the enterprises or
establishing joint ventures with local and foreign investors.
In a significant move to accelerate the privatization of heavy industries,
Myanmar transferred to local private entrepreneurs the Ywama Steel Mill last
September, the biggest state-run enterprise
leased out since the privatization plan began.
It is reported that the first-phase privatization of all small-scale SEEs has
been completed and the second phase which deals with about 1, 760 medium- and
large-scale SEEs is underway.
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