• Burmese
Sunday, June 22, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
26 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News

1 of 24 State-owned Factories Operating at a Loss Starts to Yield Profits

Htet Naing Zaw by Htet Naing Zaw
November 10, 2017
in News
Reading Time: 2 mins read
0 0
A A
Myingyan Steel Factory. (Photo: Ministry of Industry)

Myingyan Steel Factory. (Photo: Ministry of Industry)

6.3k
VIEWS
Share on FacebookShare on Twitter

NAYPYITAW — The National League for Democracy (NLD)-led government has made one of 24 state-owned factories operating at a loss profitable, said Union Industry Minister U Khin Maung Cho.

A textile factory in Myingyan Township of Mandalay Region has started to yield profits after 18 months of overhaul and partnership with a private company, said the minister.

“We had to innovate in order to improve product quality and design for customer satisfaction. The process took around a year and a half,” said the minister.

RelatedPosts

Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

June 10, 2025
4.4k
Trump-Musk Alliance Melts Down in Blazing Public Row

Trump-Musk Alliance Melts Down in Blazing Public Row

June 6, 2025
520
ASEAN Corporate Giants Fueling Myanmar Junta’s War Crimes: JFM

ASEAN Corporate Giants Fueling Myanmar Junta’s War Crimes: JFM

May 26, 2025
2.3k

However, the minister did not disclose the detailed profits and losses of the factory.

The parliamentary Investment and Industrial Development Committee has formed two teams comprised of officials from the Planning and Finance Ministry, Ministry of Industry and representatives of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to inspect these state-owned factories to assess their financials.

“We have invited expression of interest from businesspeople to operate these factories. We’ll discuss with interested parties and privatize some, turn some into joint ventures, and terminate some as necessary,” said U Aung Kyaw Kyaw Oo, who is a member of the parliamentary committee.

The Ministry of Industry has partnered with private companies to operate 12 of 24 of the factories operating at a loss. The rest are currently suspended, said minister U Khin Maung Cho.

Steel plants in Mandalay Region’s Myingyan and Shan State’s Pangpet, paper mills in Irrawaddy Region’s Thabaung Township, and heavy industry in Bago Region’s Thagara are among the biggest factories to be inspected, said Myingyan Township lawmaker U Paw Khaing, who is also the secretary of the parliamentary committee.

“Those factories were not able to produce products beneficial to the country. The product portfolio just didn’t fit the needs of the country,” said minister U Khin Maung Cho.

“We the new government will try to manufacture practical products for the country. And we are cooperating [with the private sector] to acquire technology,” said U Khin Maung Cho.

The minister also wants to re-operate the suspended Myingyan Steel Plant, and is waiting for the approval of the parliament.

“The steel plant is ready [for resumption]. It is a massive investment, and we don’t want to waste it. We will run it again to make up for losses. We have hired international experts, and they have recommended [resumption],” said the minister.

According to the minister, his ministry will also cooperate with Japan’s Hitachi Co for power generation from tidal waves, which is the latest in energy technology, in Mon State’s Thaton Industrial Zone.

Translated from Burmese by Thet Ko Ko.

Your Thoughts …
Tags: BusinessDevelopmentInvesmtment
Htet Naing Zaw

Htet Naing Zaw

The Irrawaddy

Similar Picks:

Post-Coup Myanmar is a Family Business: Min Aung Hlaing & Co
Burma

Post-Coup Myanmar is a Family Business: Min Aung Hlaing & Co

by David Aung
February 8, 2024
17.9k

Min Aung Hlaing is an opportunistic businessman in military uniform and his children are more mercenary than the offspring of...

Read moreDetails
KIA Seizes Myanmar Junta’s Last Remaining China Trade Route in Kachin State
War Against the Junta

KIA Seizes Myanmar Junta’s Last Remaining China Trade Route in Kachin State

by The Irrawaddy
June 14, 2024
17.1k

The military regime has also lost control of all border trade in neighboring northern Shan State.

Read moreDetails
Myanmar Junta Reportedly Set to Prosecute High-Profile Businessmen for Corruption
Junta Cronies

Myanmar Junta Reportedly Set to Prosecute High-Profile Businessmen for Corruption

by The Irrawaddy
October 18, 2023
15.9k

Regime cronies Thein Win Zaw and Mu Mu Shein are set to follow former lieutenant general Moe Myint Tun as...

Read moreDetails
Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray
Analysis

Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray

by Hein Htoo Zan
June 4, 2024
14.8k

Arrests, corruption, false receipts—the crisis in the gold and currency markets bears all the hallmarks of the junta’s inability to...

Read moreDetails
Myanmar’s Multibillion-Dollar Jade Trade ‘Crashing’ as China Clamps Down  
Business

Myanmar’s Multibillion-Dollar Jade Trade ‘Crashing’ as China Clamps Down  

by The Irrawaddy
June 5, 2024
14.3k

Crackdown on border scams and tax fraud is taking heavy toll on gems trade, say merchants.

Read moreDetails
Scam Operations Flourish in Myanmar’s Biggest City
Investigation

Scam Operations Flourish in Myanmar’s Biggest City

by The Irrawaddy
March 7, 2024
10.2k

Under the noses of junta officials, online scam syndicates freely operate in Yangon as government-registered companies, an investigation by The...

Read moreDetails
Load More
Next Post

Dateline Irrawaddy: When Religiosity Leads to Sexual Exploitation 

The mother of Aung Naing Soe hugs him as he makes his way to court in Naypyitaw today. (Htet Naing Zaw/The Irrawaddy)

Journalists Sentenced Under Unexpected Charge for Flying Drone Over Parliament

No Result
View All Result

Recommended

Trade and Traffic from Thai Border Region Dwindle as Checkpoints Multiply

Trade and Traffic from Thai Border Region Dwindle as Checkpoints Multiply

2 days ago
874
The Lady Myanmar’s Generals Can’t Defeat

The Lady Myanmar’s Generals Can’t Defeat

2 days ago
650

Most Read

  • Myanmar Junta Moves to Seize Sagaing Roads

    Myanmar Junta Moves to Seize Sagaing Roads

    shares
    Share 0 Tweet 0
  • Certifying a Chinese Security Invasion; Boosting Ties With Nuclear North Korea; and More

    shares
    Share 0 Tweet 0
  • Myanmar Junta Changes Election Law Ahead of Polls

    shares
    Share 0 Tweet 0
  • Residents of Myanmar Ruby Hub Speak Out as TNLA Mining Takes Toll

    shares
    Share 0 Tweet 0
  • Trade and Traffic from Thai Border Region Dwindle as Checkpoints Multiply

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.