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Government to put 47 state-owned factories for lease



The Ministry of Industry has announced that the remaining 47 state-owned factories will be put up for lease for local and foreign private investors.

According to Deputy Secretary Myo Zarni Win, those interested in leasing the factories can find details on locations and staff at the ministry’s website, while further details can be discussed at relevant departments under the ministry.

Short-term and long-term lease options will be available, with the latter requiring the added approval of the Myanmar Investment Commission.

“The use of BOT systems in terms of giving operating rights is rare. The primary method here is leasing or, in other words, product-sharing by dividing the result products by shares allotted. The other method is profit-sharing,” said Myo Zarni Win.

There are a total of 103 factories, and under the previous administration, 56 factories are already being operated by private businesses, mainly from China and South Korea.

 

Source: Eleven Myanmar

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