Tanintharyi to focus on tourism, property, mining

Tanintharyi Region, which is located to the far south of Myanmar bordering Thailand, is looking to attract investors in the hotel and tourism, real estate and mining industries during an investment forum the regional government is holding with the Myanmar Investment Commission (MIC) in October.

Directorate of Investment and Company Administration (DICA) acting director general U Thant Sin Lwin said “DICA is supportive of the regional government’s plan to attract investors in hotel and tourism, real estate and mining industries”.

Hotel and tourism get top priority, followed by real estate and mining.

According to data from the Ministry of Investment and Foreign Relations, local and foreign investors have mostly invested in hotel and tourism, livestock and fishery, mining and manufacturing in the region.

Tanintharyi chief minister U Myint Maung said foreign investors, who have invested US$2.6 billion in the region, can invest in the Myeik Archipelago off the region’s long coastline in the Andaman Sea. “Investments in hotel and tourism can support job creation,” he said.The region only has a handful of hotels and guesthouses despite tourism being a major revenue generator.

Minister of Investment and Foreign Economic Relations U Thaung Tun, also MIC chair, together with Minister of Hotels and Tourism, U Ohn Maung, had in late July urged investors to go for sustainable and quality investments when looking to invest in the region.

“The region has lots of potential and the government and private sector can collaborate to bring in more sustainable and quality investment for tourism,” U Thaung Tun said.

The MIC has been supportive of such investments, approving Myanmar Green Century’s partnership for a hotel and tourism-related business in Kyun Mae GyiKyun, Karathyri, Bokpyin Township, Kawthaung District, Taninthayi Region and a citizen’s cooperative known as Eco Hotel And Resorts Services in Zar Det Kyi Village Tract, Kaw Thaung Township, Kawthaung District, Taninthayi Region. It has also approved the breeding of oysters for cultured pearls.

Source: Myanmar Times

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