YANGON - Myanmar's military government has invited offers from private companies to operate six major ports in the country's commercial capital and build more in anticipation of a boost in exports.
Myanmar's Transport Ministry has publicly invited offers from 'reliable Myanmar citizens, private businessmen, companies and organisations' to operate six ports in Yangon and to develop new facilities under a Build, Operate and Transfer (BOT) arrangement.
The announcement carried by state-owned Kyemon newspaper on Monday said companies would be able to apply for leases of up to 30 years, with the option of extending.
Those awarded contracts would have to dredge sand bars and improve navigability in Yangon River. They will then be responsible for maintaining waterways and collecting maintenance fees from the ships and vessels, the daily said.
The reason for privatising the ports was to allow professional handling of imports and exports, which were likely to increase in the future, the announcement said. About 90 per cent of the country's foreign trade goes through Yangon ports.
Two private companies, Asia World and Myanmar International Terminal Thilawa (MITT), already run two modern ports in Yangon on a BOT basis.
The Transport Ministry is planning to transfer Myanmar's only shipping line, Myanma Five Star, to Myanmar Economic Holding, a business enterprise under the control of the Defence Ministry, a government source told Reuters.
The military regime, which has ruled the former British colony for almost half a century, plans to transfer hundreds of state-owned enterprises to the private sector in the run-up to the country's first elections in two decades, due this year.
Critics say that while the elections will usher in a civilian administration, the army will still be the biggest force in national politics, retaining control behind the scenes. -- REUTERS
Source :http://business-times.asia1.com.sg/sub/latest/story/0,4574,373742,00.html
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