1,432 Hotel Licences Issued

​​ The Ministry of Hotels and Tourism says it has issued licences to 1,432 hotels and guest houses, including 27 with foreign investment. By last month the ministry approved 421 licences in Mandalay Region, 354 in Yangon Region and 290 in Shan State. There are reportedly more than 56,000 hotel rooms in the country with 17,700 in Yangon. There are five hotels with joint investment and 21 government-owned hotels. The ministry has allowed foreign-owned hotels in Yangon, Mandalay, Bagan, Kawthoung, Tachilek and Myeik. Investment in hotel construction reached more than US$3 billion. Singapore has led investment with US$1.6 billion, partly because it was used as a conduit by the US and other countries that imposed sanctions […]

Japanese firm to invest in Myanmar agribusiness

Japan-based Megumi No Sato will join hands with Myanmar’s City Mart Holding Company, to produce and sell vegetables and fruits, according to a company announcement. Megumi No Sato is a popular company back in Japan and is part of the G-7 Group which specialises in selling quality vegetables from select farmers. The Myanmar Investment Commission […]