YCDC to accept Sule Square fine

Yangon City Development Committee sent a formal letter to the developers of the Sule Square commercial complex yesterday, which will allow payment of a K2 billion (US$1.6 million) fine levied for building additional floors without permission. YCDC said late last month that although hotel group Shangri-La was willing to pay, the committee was waiting on […]

Myanmar ripe for investments in services sector as economy grows

MYANMAR IS in need of more investments, especially in the service sector, as the economy is showing strong growth, Aung Kyan San, managing director of Crown Education, a business and consultancy firm based in Yangon, said last Friday. “Foreign investors still have a lot of opportunity in Myanmar thanks to the growing economy, and this […]

Capturing opportunity: Myanmar’s hotel and tourism boom

Since Myanmar liberalized its economy in 2011, the country has experienced a surge of foreign direct investment and visiting tourists. Official government figures show that tourist arrivals have risen from below 1 million in 2011 to over 3 million in 2014, with the Ministry of Hotels and Tourism setting an ambitious target of 4.5 to […]

Hotels rush to grab a piece of Myanmar market

YANGON- 300,000 visitors in 2010, one million tourists in 2012, two million last year and most probably three million in 2014. By adding a million foreign visitors, the country is in desperate need for more accommodation for visitors. The Myanmar Investment Commission granted last year permission for about $US2 billion of investment into hotels and […]

Government expects more hotel rooms for SEA Games

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 The Ministry of Hotels and Tourism is expecting about 300 hotel rooms to be available before the Southeast Asian Games begin on December 11. The Shangri-La Residence and Rose Garden will have more rooms available as backup for upcoming SEA Games events in […]

Yangon to get 1670 hotel rooms next year

The shortage of mid-range and high-end hotel rooms in Yangon should ease next year when 1670 new hotel rooms are slated to become available, a Ministry of Hotels and Tourism official said earlier this month. A further 1255 and 2455 rooms are scheduled to open in 2014 and 2015 respectively, U Aung Zaw Win, director […]

In Myanmar, Flirtations by Investors Turn Into Commitments

NAYPYIDAW, Myanmar — Foreign executives who flew into this dirt-poor country over the past year to tap into what is described as Asia’s last major frontier market often came away skeptical, befuddled or outright disappointed. “Look, listen, learn — and leave” was the catch phrase that described trips here by executives who saw first-hand the […]