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Tanintharyi offers good potential for investors: officials

The Tanintharyi Region government is focusing on promoting investment in hotels and tourism, agriculture and livestock, fisheries, power, mining, and real estate to help boost its economy.

This was revealed during the Region Investment Forum on December 7. The event organised by the region’s government and the Myanmar Investment Commission comes on the heels of similar events held in Kachin and Mon over the last several weeks.

Tanintharyi located in the south of Myanmar bordering the Andaman Sea to the west and Thailand, to the east is famous for the many islands off its coast.

Tanintharyi Chief Minister U Myint Maung said during the forum that hotels and tourism, agriculture and livestock, fisheries, power, mining, real estate, and Dawei Special Economic Zone offer good opportunities for investors both local and foreign.

U Myint Maung said highlighted ecotourism as a sector with strong potential for growth in Tanintharyi. He added that the region also has many opportunities to produce value-added products for the world’s markets and could serve as a gateway to the Greater Mekong sub-region due to its strategic location in the Southern Economic Corridor that encompasses Cambodia, Myanmar, Thailand and Vietnam.

“We follow the good examples of the countries whose coastal regions are frontiers for development. The Dawei Special Economic Zone in Tanintharyi will become one of the contributors to enhancing regional coastal development,” said Vice President U Myint Swe during the event.

“The hotels and tourism sector is ripe for development and several parties spoke with government officials about investing in the sector during the event,” said Myanmar Investment Commission Secretary U Thant Sin Lwin.

The Myeik Archipelago (also known as the Mergui Archipelago) in the Andaman Sea is a famous destination and has the potential for further development. There are currently 30 hotels, 10 guesthouses and over 90 travel companies operating in Tanintharyi Region.

“The government of Myanmar has made many significant and positive changes in the country’s investment landscape. The reforms have resulted in the country climbing in theWorld Bank’s Ease of Doing Business Ranking to 165th from 171st previously, making it one of the 20 most improved in the report,” said Chair of Myanmar Investors Development Association U Khin Maung Aye.

“The regional government is focusing on attracting investors with tax incentives and investment facilitation,” said Chief Minister U Myint Maung.

According to government statistics as of October this year, 44 foreign businesses had invested US$2.3 billion in Tanintharyi while 71 domestic businesses had invested US$233 million. The Tanintharyi government says among the strong points of the region for investors are its good infrastructure and roads, tax exemptions of five and seven years for investments in the Dawei SEZ and Dawei Deep Sea Port.

Source :Myanmar Times

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