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Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

Representatives call for review of SOE law

Representatives of Parliament have urged lawmakers to review an existing law under which the government must bail out loss-making State-owned enterprises (SOEs) with public funds. A total of 17 out of the 26 Myanmar SOEs under the Union budget are expected to turn a profit in 2018-19, commencing October 1, according to the Ministry of […]

Myanmar’s state-owned enterprises show how much reform is still needed

NOTHING has been made in the engine factory in Thagaya, in the south of Myanmar, since April last year. Yet around 350 employees still turn up each day. In 2016 government-owned factories like this one made a loss of more than $200m. When Myanmar moved from military dictatorship to a form of democracy, its new […]

Shrouded in secrecy, SOE profits are not financing country’s development

Reallocation of excess savings from Myanmar Gems Enterprise (MGE) and Myanma Oil and Gas Enterprise (MOGE) alone could provide more than K2.8 trillion in available financing for the government’s budget in the fiscal year starting from October, on top of covering expenses of the two state-owned enterprises. The government has lost more than US$2 billion […]

Proposed Gemstone Legislation Risks Leaving Flawed System Intact

The proposed Gemstone Law, currently under discussion in the national legislature, would largely perpetuate many flaws in the governing framework created by the then-military-led government in 1995, according to Natural Resource Governance Institute (NRGI). In July 2016, the new NLD-led government decided to suspend issuing jade and gemstone licences until relevant laws could be reviewed […]

Villagers in Myanmar Describe the Destructive Power of China’s Building Frenzy

Kyaukphyu, Myanmar — President Xi Jinping of China is hosting a conference in Beijing this weekend to showcase one of his biggest gambles: a planned investment in pipelines, ports, trains, roads and other projects to link China to much of the rest of the world, including Europe and Africa. Called One Belt, One Road, the multibillion-dollar initiative seeks to generate business for China’s state-owned enterprises […]