China Eyes Mon State Investment

MAWLAMYINE, Mon State — Chinese Ambassador to Myanmar Hong Liang indicated his country is considering investment in Mon State during a meeting with the state government on Friday. According to the Chinese ambassador, investors are interested in rubber products manufacturing, fruit cultivation and the tourism sector, said Mon State minister for natural resources and environmental […]

Event Invitation: Euromoney’s Myanmar Global Investment Forum,12-13 Sep 2017, Naypyidaw

In the first year of the National League for Democracy (NLD) government, Myanmar’s economy decelerated and the pace of economic reform slowed. Yet, the government appears confident growth will return and has pledged to boost its economy in 2017-18. Foreign investors have reason for optimism too. A new Investment Law came into effect on 1 […]

$1.8b FDI approved for 2017-18 so far

The Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18. In June alone, the MIC approved investments worth US713.43 million from 22 foreign businesses and K11.425 billion investment from four Myanmar citizens, […]

Tourism Pro: ‘What We Need Is Stability’

Burma expected to receive at least five million tourists in 2015, but so far there have only been about two million arrivals. This week the Irrawaddy spoke with Aung Myat Kyaw, chairman of the Union of Myanmar Travel Association, about tourism prospects for this year. Estimates have placed tourist figures for this year around five […]

Upper Scale Hotel Market in Yangon 4Q, 2014

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Research & Forecast Report Yangon | Upper Scale Hotel Market 4Q 2014 Planned influx of foreign operators as tourism sector continues to grow The number of upper-scale hotel rooms in Yangon is expected to grow significantly as over […]

Myanmar targets 4.5m tourists in 2015

The Ministry of Hotels and Tourism has set an ambitious target, aiming to draw 4.5 million foreign visitors this year. The visitors are expected to spend US$2 billion in the country. According to Myo Win Nyunt, a director, the ministry has been busy enlarging travel zones and making other infrastructure improvement to help tourists. “The […]

31 foreign hotels get permits

According to the Ministry of Hotels and Tourism, 31 foreign investment hotels have been permitted to open in six regions, including Bagan and Mandalay. Twenty hotels with a total of 3,047 rooms are allowed to open in Yangon, four hotels with 660 rooms in Mandalay and one with 127 rooms in Bagan. Two foreign investment […]

Tourism Development Bank to be founded to support Myanmar’s tourism sector

As Myanmar’s tourism sector has grown with the rapid influx of new tourists in recent years, the need for capital among locals who hope enter the sector has jumped sharply. To respond to this need, the Tourism Development Bank is slated to be opened to support hotels, tourism companies and local businesses, said Tin Tun […]

Myanmar tourism to earn US$900 million in 2014

Myanmar has seen a five-fold increase in tourism income over the last decade with the sector pulling in US$905 million in 2014, according to a report on the sector, released on November 30 from the Ministry of Hotels and Tourism. The country brought in US$171 million in 2004 in comparison with US$905 million in 2014, […]

Investment in hospitality sector soars

As of October 2014, there are 1,076 hotels throughout Myanmar, and two-thirds of them are in Yangon, Mandalay and Shan State, according to Ministry of Hotels and Tourism. Mandalay Region has the largest share with 329 hotels, followed by Yangon with 279 and Shan State, 200. Types of hotels in Myanmar vary. Some are funded […]