Number of hotels on the rise: Tourism ministry

The number of star-rated hotels, motels and guesthouses in Myanmar has reached 923, with more than 300 guesthouses in operation by the end of last year, according to the Ministry of Hotels and Tourism. The ministry said there are six five-star hotels, 17 four-star hotels, 83 three-star hotels, 116 two-star hotels and 102 one-star hotels […]

Former MOFA office reopened as business centre

YANGON—The former office of the Ministry of Foreign Affairs on Pyay Road was reopened on Wednesday as a business centre for embassies and companies, according to the Youth Force Hotel Co, which signed the contract with the government to operate the project. The colonial-era building was renovated without changing its architecture at a cost of […]

Joint venture to invest Ks 32 billion in stock exchange

A joint venture between Japan’s Daiwa and a local Myanmar company still to be disclosed will invest Ks 32 billion to establish a stock exchange in Myanmar. The Deputy Minister for Finance Maung Maung Thein told media on Saturday that the Myanmar company will retain 51 percent shares while Daiwa will retain the rest. “The […]

Dawei SEZ impeded as Italian-Thai incapable to finance alone

DAWEI—Myanmar is going to invite more international investors to participate in the Dawei Special Economic Zone Project as Italian-Thai Development (ITD) has proved unable to fund it alone, officials told a press conference on Monday. The implementation of Dawei SEZ and its related projects has been delayed as ITD faces financial constraints. The project is […]