MIC grants to build five star hotel in Nyaung Oo

Myanmar Investment Commission (MIC) has granted permission to Imperial Palace Hotel Co Ltd, a local company, to build a five-star HOTEL IN Nyaung Oo district hotel zone in Mandalay Region.

The investment by Myanmar citizens has significantly increased after 2013 in the HOTEL SERVICEsector and the tourism sector since 2010.

According to the statement of Ministry of Hotels and Tourism, there were 700 licensed hotels and motels in 2010 and in August, 2014, there are 1,048 HOTELS IN THE country.

As the tourism industry has flourished in Myanmar, investments in hotels have increased sharply.

Source: ELEVEN MYANMAR

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