Tourism sector sees a peak

Foreign investment in tourism sector recorded over US$2 billion with 31 companies granted licences to construct hotels across the country mostly in Yangon, Mandalay, Bagan, Kawthoung, Techilek and Myeik, according to Ministry of Hotel And Tourism.

Yangon has two-thirds of the number and followed by Mandalay and other minor tour destinations.

Foreign investment comes directly or through joint-venture agreements with local partners.

Foreign investors first have to apply at Myanmar Investment Commission where their application forms are being scrutinized by relevant regional and state authorities.

Income from tourism sector has increased sharply each year since the country opened its doors in 2010 and reached $926 million as of 2013.

Source: ELEVEN MYANMAR

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