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Mandalay attracts over half a million tourists

More than 500,000 foreign tourists visited Mandalay Region in the first 10 months of the year, topping last year’s annual figures, a senior official of the Directorate of Hotels and Tourism in Upper Myanmar said. U San Yu, deputy director of the directorate, said over 490,000 foreign tourists visited Mandalay in 2018, and his office […]

Tourist numbers to Myanmar rise

The Ministry of Hotels and Tourism recently released data showing that from January to September this year, more than 1.3 million foreign tourists visited Myanmar. This represents 390,000 more visitors or a 41 percent rise compared to the same period last year The ministry said the increase can be attributed to more visitors coming from […]

Negotiations on to ensure Alipay, WeChat use CBM payment gateway

Negotiations are under way to make sure transactions on the WeChat Pay and Alipay services — which are used by Chinese tourists visiting the country — pass through the payment gateway of the Central Bank of Myanmar (CBM), said Naw Pan Thinzar Myo, the Yangon Region Minister for Kayin Ethnic Affairs. The move would help […]

Colliers Myanmar Mandalay Property Market Review 2018 and Outlook 2019

Summary & Recommendations Mandalay City continues to be a promising investment destination with big-ticket infrastructure and property projects being set in place. Township developments such as the Mandalay Resort City (NMRC), and Ye Dagun Taung mixed-use development, among others, are just some of these projects that will continually shape the city’s growing property landscape. Also, […]

Myanmar Sees 30 Percent Increase in Tourism During First Four Months of 2019

The number of tourists coming into Myanmar during the first four months of this year has risen by 30 percent over the same period last year. This information was shared by U Ohn Maung, Union Minister of the Ministry of Hotels and Tourism, at a press conference held to explain what the government has accomplished […]

Mandalay to build textile industry park

A textile industry park will be established in Mandalay city, U Zaw Myint Maung, chief minister of Mandalay Region, said on Tuesday. He said the government will work with the Japan International Cooperation Agency (JICA) to set up the industrial hub. “Some businesspeople have proposed to establish a textile industry park that can employ about […]

Gov’t takes steps to decentralize tourism sector

To step up efforts for tourism development in Myanmar, the Union Government will form three committees that will steer the decentralization of tourism services in accordance with the new tourism law, said Vice President U Henry Van Thio. He made the remarks in his capacity as the Chairman of the National Tourism Development Central Committee […]

Myanmar businesses join hands for FDI

THE MYANMAR Investors Development Association (MIDA), an alliance of large-scale local enterprises, will help the government achieve its economic goals by actively engaging with local and foreign investors, according to its chairman Khin Maung Aye. ”For our country to grow further, we need to create thousands of jobs for our citizens. Job creation entirely depends […]

Telecom Sector Draws Foreign Investment

YANGON — The Telecommunications sector has become the top destination for foreign investment under the National League for Democracy (NLD) government, according to the Directorate of Investment and Company Administration (DICA). “Under the previous governments, most of the foreign investments went to the energy and electricity sectors. But foreign investment in the telecommunications sector has […]

MIC hopes to boost domestic investment

​​ Domestic sources invested over Ks12 trillion into production, transport, housing development, hotels and tourism and the construction sectors until the end of December, the Myanmar Investment Commission (MIC) said. Ks11 trillion was invested before March 2016 and more than Ks742 billion under the National League for Democracy government. The MIC had allowed 1,224 investments […]