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Myanmar to privatize 90 pct of state-owned industries this year

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YANGON, Jan. 13 (Xinhua) -- Myanmar has planned to privatize 90 percent of state-owned industries during the year, leaving the remaining 10 percent to be held back by the government, the local Biweekly Eleven News reported Thursday.

The move is to be made in line with the coming change of government after the general election, Deputy Minister of Industry- 2 U Khin Maung Kyaw was quoted as saying.

In addition to the state-owned industries, other state-owned properties such as motor vehicles, enterprises, fuel-filling stations, buildings, land plots, recreation places, roads, bridges and ports are being privatized, said private companies.

According to the report, during 2010, 110 state-owned economic enterprises, 32 buildings, 246 fuel-filling stations, eight wharves along the Yangon Port and port areas have been sold under competitive bidding system.

During this year, other state-owned industries, economic enterprises and properties in regions and states will also follow suit, the report added

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