Foreign investment in hotel industry increases

The negotiations are already being discussed but the plans have been delayed because the investors are studying the current situation.

“There are discussions about the investment in the hotel industry every two days. They are mostly from some European countries, Thailand and Singapore. But they are analysing the situation,” he said.

Local businessmen are making investments in small-scale hotels only, sources from the ministry say.

Moreover, the rules and regulations governing the construction of foreign-invested hotel projects are delaying investment, an official from the ministry said.

At present, seven countries have invested more than US$1.7 billion (Bt55.55 billion) in the hotel industry alone. There are 36 international standard hotels and 6,666 rooms. But only 30 hotels are finished completely and five hotels are still in the processing stage. The last hotel is still conducting a survey, the ministry announced.

Singapore’s investment tops $700 million followed by Vietnam with $450 million. The rest of the seven countries are Thailand, Japan, Hong Kong, Malaysia and UK.

At present, Thailand, Japan and EU countries have been invited to invest in the infrastructure of the hotel industry, sources say.

 

Carlsberg’s Myanmar unit eyes presence in Bago

Myanmar Carlsberg Co is preparing to invest in the Bago industrial zone, sources say.

Myanmar Carlsberg’s finance and business planning director, Dheeraj Mishra, met with the director-general of the Directorate of Investment and Companies Administration (DICA), Aung Naing Oo, on December 18 to discuss the required rules and regulations for investing. 

Myanmar Carlsberg is a joint venture company of Carlsberg Group and MGS Breweries, registered on December 14, 2012. The joint venture was approved by the Myanmar Investment Commission (MIC), in accordance with the Foreign Investment Law, to begin operations on February 26 of this year.

Myanmar Carlsberg is planning to export its products manufactured in Myanmar to the EU market and plans to invest between US$35 million (Bt1.1 billion) and $50 million, sources from Carlsberg Group say.

The Carlsberg Group was founded in 1847 and is headquartered in Copenhagen, Denmark. It produces beer, soft drinks and soda and its products are distributed in the US, Europe and Asia.

 

Suu Kyi cancels trips after undergoing foot surgery

Opposition leader Aung San Suu Kyi has cancelled all of her trips after undergoing minor foot surgery, the NLD Health Network announced yesterday.

Dr Tin Myo Win, her family doctor and chairman of the NLD Health Network, stated in the announcement that although Suu Kyi’s operation was successful, it is not suitable for her to stand and walk for long periods, so she had to cancel her trips until the end of December.

“She won’t be able to attend the rallies on constitutional amendments in Maubin on December 29. The trip to Chin State has been scheduled for next month but we aren’t sure about it,” said an official from the NLD Health Network.

The opposition leader was suffering from bunions, an enlargement of bone or tissue around the joint of the big toe, on both feet, and underwent surgery for one-and-a-half hours at the Asia Royal Hospital on Monday.

According to her family doctor, this was her second surgery after major surgery in 2003.

Before undergoing her foot surgery, Suu Kyi visited Kawhmu and Thayawady on December 14 and 15 and delivered speeches about amending the 2008 Constitution.

 

20 roads added to Yangon’s no-parking zone

Traffic police have added 20 more roads to Yangon’s no-parking zone, bringing the total number of restricted roads in Yangon region to 57, an official from the Traffic Police Force said.

Although a total of 1,175 vehicles have been towed for parking on restricted roads since November 11, the number of unlawfully parked vehicles has not declined.

“The aim of towing the vehicles with tow trucks is to reduce traffic jams and make vehicle owners and drivers follow the regulations. We found that they don’t follow the regulations even though we have been taking action. Two teams are inspecting downtown areas, while another two teams are inspecting the outskirts,” said Pol Captain Linn Htut.

The new addition covers the roads from the junction of East Shwegondine Road and Banyardala Road (Tarmwe Junction) to the junction of Thein Phyu Road and Daw Thein Tin Road (Thein Phyu Junction); the junction of Bogyoke Aung San Road and Bo Aung Kyaw Road to the junction of Bo Aung Kyaw Road and the Strand Road; from the junction of Kabaaye Pagoda Road to Kanbae Road to the junction of Kanbae Road to Waizayanar Road; from the junction of Anawrahta Road and Latha Road to Latha Road and the Strand Road.