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Nyi Nyi ®
May 11, 2015, 1:50:07 AM5/11/15
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Foreign investment in the hotel sector has reached US$2.7 billion, Htay Aung, minister for hotels and tourism, said at a cooperation signing ceremony between Hoang Anh Gia Lai Myanmar and the Spain-based Melia Hotels International.
"There are 47 hotels invested by foreign investors," he said.
Hotel investment is largely coming from Singapore, Vietnam, Thailand, Hong Kong, Japan, Malaysia, the UK, Luxemburg and the UAE. There are other joint-venture operations with domestic businesses.
Hotel investment is largely coming from Singapore, Vietnam, Thailand, Hong Kong, Japan, Malaysia, the UK, Luxemburg and the UAE. There are other joint-venture operations with domestic businesses.
Last week, the MIC gave the green light for hotel projects in Kyunphila, Ngaman and Boywe islands in Myeik Archipelago, Tanintharyi Region, according to the Myeik Division of the Hotels and Tourism Ministry.
"The land measurement tasks are already taking place. The Myanmar company will operate in partnership with a foreign counterpart," said an official from the Myeik Division.
The 27 companies have proposed hotel projects in Kayinkwa, Samat, Ngakhinnyo, Kyunphila, Ngaman, Ngahtweyu, Ngalonelapel, Bonetkyaw, Hlainggu, Satan, Boywe and Domel islands, according to the regional government.
Altogether 13 hotels are due to be built on these islands and the MIC has given permits on Ngalonelapel, 155 island, Kayinkwa, Ngakhinnyo, Kyunphila, Ngaman and Boywe islands.
Kyunphila is located at 45 nautical miles northwest from Kawthoung and the Mokanint UAE Co Ltd and the Kyaw Win Phyo Company will implement a joint-venture hotel project on its 5,100-acre site.
There are more than 800 virgin islands in the Myeik Archipelago, making an attractive prospect to international visitors.
Currently, a trip to Myeik costs around US$800 due to the weak infrastructure.
"The land measurement tasks are already taking place. The Myanmar company will operate in partnership with a foreign counterpart," said an official from the Myeik Division.
The 27 companies have proposed hotel projects in Kayinkwa, Samat, Ngakhinnyo, Kyunphila, Ngaman, Ngahtweyu, Ngalonelapel, Bonetkyaw, Hlainggu, Satan, Boywe and Domel islands, according to the regional government.
Altogether 13 hotels are due to be built on these islands and the MIC has given permits on Ngalonelapel, 155 island, Kayinkwa, Ngakhinnyo, Kyunphila, Ngaman and Boywe islands.
Kyunphila is located at 45 nautical miles northwest from Kawthoung and the Mokanint UAE Co Ltd and the Kyaw Win Phyo Company will implement a joint-venture hotel project on its 5,100-acre site.
There are more than 800 virgin islands in the Myeik Archipelago, making an attractive prospect to international visitors.
Currently, a trip to Myeik costs around US$800 due to the weak infrastructure.
News Source from Eleven Myanmar
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