No. 14 Heavy Industry (Thagaya) to make joint venture with local, foreign businesses

No. 14 Heavy Industry (Thagaya) under the Ministry of Industry is intended to cooperate with local and foreign entrepreneurs as Public Private Partnerships (PPP).
Previously, there were 118 industries and workshops under the Industry Ministry. The ministry invited Expressions of Interest (EOI) for cooperation and it is building PPPs with 59 factories. Another 17 are being scrutinised for tender and only 42 are left, it is learnt.
The Joint Bill Committee proposed to the Pyidaungsu Hluttaw to suspend 44 non-profit making industry projects under two ministries — the Ministry of Industry and the Electric Power and Energy Ministry in the next fiscal year 2017-2018.
Out of the state-owned industries, non-profit making factories will come to halt and the staff engaged in those industries will be paid for lay-offs if they shift to private businesses.
The authorities are planning to make civil staff under those factories not suffer from redundancy. Those 55 year of age with at least 30 years service will be granted pension.  —200

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