Hotel investment reaches US$2.7bn

Foreign investment in the hotel sector has reached US$2.7 billion, Htay Aung, minister for hotels and tourism, said at a cooperation signing ceremony between Hoang Anh Gia Lai Myanmar and the Spain-based Melia Hotels International. “There are 47 hotels invested by foreign investors,” he said. Hotel investment is largely coming from Singapore, Vietnam, Thailand, Hong […]

Myanmar targets 4.5m tourists in 2015

The Ministry of Hotels and Tourism has set an ambitious target, aiming to draw 4.5 million foreign visitors this year. The visitors are expected to spend US$2 billion in the country. According to Myo Win Nyunt, a director, the ministry has been busy enlarging travel zones and making other infrastructure improvement to help tourists. “The […]

Myanmar, EU to sign investment agreement

Myanmar will soon sign an investment protection agreement with the European Union to promote foreign investments, according to the Myanmar Investment Commission (MIC). “The EU has begun to make investments in Myanmar. We have agreed with the EU on principle to sign an investment protection agreement. Soon, discussions will start. After signing the agreement, EU […]