Japan agrees to sign JV contract for Thilawa SEZ

Japanese multinational corporations such as Marubeni, Mitsubishi and Sumitomo corporations are included in JTSC.

MTSH and JTSC will form a joint venture company to implement Thilawa SEZ. The JV agreement is agreed to sign after October 20 and Myanmar authorities asked to sign the agreement before the end of October, sources say.

During the meeting, MTSH has proposed current Union of Myanmar Federation of Chambers of Commerce of Industry (UMFCCI) Chairman Win Aung to appoint as the joint venture company’s chairman.

But Win Aung is included in Specially Designated Nationals List which is listed by US Secretary of the State. If he is still included in the sanction list, it will be difficult to proceed the implementation for SEZ. Japan argued that they are not rejecting him for the post but both sides need to follow the facts which have agreed in the contract.

 

Govt negotiates with Yangon hotels for SEA Games

The Ministry of Hotels and Tourism has been discussing with the Shangrila Residence and the Rose Garden Hotel in Yangon about the possibility of being operational in time for the upcoming Southeast Asian Games. 

Yangon and Nay Pyi Taw are the two major locations that are expected to face room shortage problems during the SEA Games, according to the Ministry.

The Ministry's director Hlaing Oo said Shangrila Residence will provide 240 rooms while the Rose Garden Hotel will provide 300 rooms so Yangon will have enough hotel rooms if the two hotels can be operational before the SEA Games. "Shangrila Residence may be able to hold an opening ceremony in November. They are trying their best to provide the rooms. Rose Garden has also submitted that their hotel will be completed by December. So, we think we will be able to get enough rooms," said Hlaing Oo. 

 

Foreign investors eyed for Thandwe hotel project

The government is planning to invite foreign investors to invest in the Thandwe Hotel Zone Project in Rakhine State so as to make it a perfect tourism destination in the western part of Myanmar, said Aung Zaw Win, Director General at the Ministry of Hotels and Tourism.

The director general said this is in accordance with President Thein Sein’s guidelines and the government has budgeted a total of Ks5 billion (about US$5.2 million) to spend on the project.

“The President wants the Ngapali Beach in Thandwe to [be modern] like the Bali Beach. Infrastructural buildings are the key to it. Therefore, the Ministry of Hotels and Tourism is planning to invite foreign investments for it,” said Aung Zaw Win. He added that there will be two main parts in the project_ one is the constructions and development such as building roads by the regional government, and another is the environmental conservation. In planning civil and beach projects in Thandwe Hotel Zone, local and foreign experts will cooperate each other, the ministry said.