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Why is Serge Pun betting on tourism?

Tourism has borne the brunt of an economic slowdown and the international outcry over Rakhine, but one tycoon is feeling bullish about the industry. By BEN DUNANT | FRONTIER “TOURISM is low-hanging fruit in any country looking to develop,” says Mr Serge Pun, puffing on a cigar in the headquarters of Memories Group, a company […]

Myanmar needs to accelerate economic reforms to sustain growth: ADB

Presenting an optimistic growth outlook for the current fiscal and the coming years, ADB urges government of Myanmar to continue focusing on economic reforms, particularly in the areas of public finance management, legal and regulatory frameworks and governance and accountability. Pointing out the need for prudent use of scarce resources for infrastructure and skill development […]

Casino operations to be legalised under new gambling law

Casinos will soon be able to legally operate in Myanmar after the 2018 Gambling Law is enacted in May, replacing the existing 1986 legislation. The new law, which includes recommendations from President U Win Myint, is now in the process of being approved in Parliament, which will resume after Thingyan in April. The updated law […]

Myanmar sees constant flow of tourists through Tachilek border gate

Between 15-21 March, Myanmar welcomed 22,872 tourists, who entered the country through the Tachilek border gate for overnight and day trips, according to the Tachilek branch of the Directorate of Hotels and Tourism. A total of 20,588 tourists from Thailand and 300 tourists from other countries entered Tachilek for a day trip. A total of […]

German wholesaler Metro bets on Myanmar’s hospitality sector

YANGON — German wholesaler Metro has opened a massive logistics center near Yangon serving hotels and eateries, betting on the industries’ growth as tourist traffic from other parts of Asia picks up. The 5,800-sq.-meter facility located inside the Thilawa Special Economic Zone went into full swing in early March, supplying fresh food and other items […]

Second Thai-Myanmar friendship bridge opens

Prime Minister Prayut Chan-o-cha and Myanmar State Counsellor Aung San Suu Kyi on Tuesday opened the second Thai-Myanmar bridge across the Moei River. The opening ceremony was held in the middle of the new bridge, which links Mae Sot district of Tak province and Myawaddy township in Myanmar. The completion of the new bridge showed […]

Myanmar Tourism Bank expands reach to support sector

Myanma Tourism Bank will open three branches in Yangon, Mandalay and Nay Pyi Taw within the next two months, U Zin Ko Ko, deputy head of the small and medium-sized enterprise (SME) department at Myanmar Tourism Bank told The Myanmar Times. Myanmar Tourism Bank is one of five sector-specific banks granted a banking license by […]

Letter: Fuel provision elephant in the room for airlines

SIR – I would like to respond to an article by Zeyar Hein on March 7 on domestic airlines. Complaints on high domestic airfares – many domestic flights are more costly than flights to Bangkok, Hanoi or Kuala Lumpur – and how it is hurting Myanmar’s tourism are gaining traction these days, with recent high-profile […]

Myanmar plans to attract more western travellers

Myanmar is planning to reduce visa restrictions on western countries such as France, Germany, Russia, Poland, Italy and Spain, according to Immigration Department from Yangon International Airport. The visit of travellers from western countries was reduced in recent years due to political affairs in Myanmar and hotel and tourism companies and respective ministries are cooperating […]

Germany’s METRO AG starts operations in Myanmar

Germany’s wholesale company Metro AG, kicked-off its operations in Myanmar over the weekend. The company will serve its customers in the fast-growing hospitality and tourism sectors from its modern warehouse in Yangon through its state-of-the-art digital ordering and delivery services. “The food wholesale industry in Myanmar offers big potential for Metro and we believe our […]