Myanmar ousts investment bigwigs

Myanmar ousts investment bigwigs

YANGON (AP): The top members of Myanmar's powerful investment
board have been replaced, the official Gazette announced on
Friday.

The Gazette, which is the publication of record for government
activities, gave no reason for the shakeup of the Myanmar
Investment Commission.

Investment approvals in Myanmar have plunged 95 percent in the
last fiscal year as the economy buckled under pressure from
alleged mismanagement, foreign sanctions and the Asian economic
crisis.

According to the Gazette, the chairman of the commission,
Deputy Prime Minister Vice Admiral Maung Maung Khin, was replaced
by Thaung, minister for science and technology.

The commission's deputy chairman, Deputy Prime Minister Lt.
Gen. Tin Tun, was replaced by Minister for Electric Power Maj.
Gen. Tin Htut, and its secretary, Air Force Brig. Gen. Maung
Maung, was replaced by Deputy Minister for Electric Power Army
Brig. Gen. Maung Maung.