14 Jan '11, 5pm

Myanmar planning large-scale privatisation: local media: Myanmar could undergo a major economic upheaval followi...

YANGON (AFP) - – Myanmar could undergo a major economic upheaval following controversial elections last year, as local media reported the country plans to privatise most of its state-owned industries. Deputy minister of industry Khin Maung Kyaw was quoted in Biweekly Eleven journal as saying reform in Myanmar, which is about to form parliaments after its first poll in 20 years, was in line with "other democratic countries". The report follows a slew of privatisations in Myanmar last year, leading some to suggest the junta was looking to hand assets to its cronies before a new partially civilian government takes power following the November vote. "While we transform as a democratic nation, we will privatise 90 percent of state-owned industrial businesses," Khin Maung Kyaw said in Thursday's edition of the magazine, which is not linked to the state. According to the article,...

Full article: http://sg.news.yahoo.com/afp/20110114/tbs-myanmar-politic...

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