$2.5 bn foreign stakes in Myanmar hotels, tourism
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MYANMAR had received US$2.481 billion (about Bt88.5 billion) in foreign investment in 65 projects in the hotel and tourism sector as of the end of October, that country’s Directorate of Investment and Companies Registration (DICR) has reported.
That sector is in seventh position in terms of attracting foreign investment, with 3.79 per cent of the total.
Official figures for foreign investment as at the end of last month showed $22 billion targeting the oil and gas sector, $20.3 billion in other energy, $7.3 billion in production, $6.7 billion in transport and $3.1 billion in real estate.
In addition to the stated foreign investment, Myanmar nationals and foreign parties have signed agreements on joint ventures in the hotel and tourism sector, according to the DICR.
Myanmar expects to attract more than $9 billion to the sector over the next five years. The Myanmar Investment Commission was reconstituted on June 7, two months after the new government came to power.
