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Myanmar Post is among the state-owned enterprises (SOEs) that have been suffering losses over the last several years. The postal service first began with the setting up of the Sittwe Postal Office in 1827. Due to the advent of modern digital communications, the SOE’s revenue has declined drastically. People who used to rely on physical […]

https://consult-myanmar.com/2019/02/27/32525/

Govt coffers held back by SOEs: EITI

A representative of the Extractive Industries Transparency Initiative (EITI) said Myanmar’s government fails to understand the severity of how the so-called Other Accounts of state enterprises are holding back the country’s development. EITI will be organising a workshop on reforming state-owned enterprises (SOEs) engaging in this sector will be held mid-February, according to EITI trilateral […]

National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors

Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]

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 […]

Myanmar Timber Enterprise targets higher sales, commercial restructuring

State-owned Myanmar Timber Enterprise (MTE) is targeting sales of 5,000 tonnes of teak and 100,000 tonnes of hard wood during the six-month period between April and October this year. The sales are expected to generate K63 billion in revenues, MTE deputy general manager U Khin Maung Kyi told The Myanmar Times. Sales will be conducted […]

Myanmar’s economy on a growth path

Ho mere piyaa gaye Yangon, kiya hai wahan se telephoon (My beau, away in Yangon, has telephoned me),” sang Nigar Sultana joyously in the 1949 Hindi film Patanga. The heroine was thrilled that her beau Gope was able to speak to her, in Dehra Dun, from a trunk line in Yangon, Myanmar. It was a […]