Local vehicle manufacturer Myanmar Motor Corporation (MMC) will begin the production of buses for both domestic and international markets, after the Yangon based company was given the nod by the Myanmar Investment Commission (MIC). MMC has set aside $10 million for the operation which covers upgrades to its Mingaladon assembly facility and production costs. […]
Govt Questioned on Tourism Figures
December 8, 2015 by
Once again, the government has claimed Burma is on track to meet its tourist arrival figures for the year. Once again, the government stands accused of inflating the figures. Hotels and Tourism Htay Aung told a Saturday meeting with tourism industry leaders that despite concerns over political change in Burma, the number of tourists who […]
Myanmar on the way to hit record 4.5 million arrivals
November 3, 2015 by
MYANMAR’s Ministry of Hotels and Tourism is expecting tourist arrivals in 2015 to reach 4.5 million, which will surpass its previous records of 2.1 million visitors in 2013 and 3.8 million last year. From January to September this year, Yangon alone recorded 759,181 arrivals, representing a 25 per cent increase from the same period last […]
Melia enters Myanmar with maiden Yangon hotel
May 6, 2015 by
MELIÁ Hotels International has signed an agreement with Vietnam’s Hoang Anh Gia Lai (HAGL) Group on April 30 to manage the five-star Meliá Yangon. Owned by HAGL, the 429-room hotel will be part of the mixed-use Hoang Anh Gia Lai Myanmar Centre and is one of HAGL’s largest real estate projects, with a total investment […]
Myanmar will host 8 million visitors by 2020
April 15, 2015 by
YANGON, 10 April 2015: Myanmar’s Ministry of Hotels and Tourism says the country’s tourism master plan is now underway following the recommendations of the Asia Development Bank and the Norwegian government that funded and wrote the plan. Eleven Myanmar media quoted tourism minister, Htay Aung, as saying the master plan includes 38 projects, requiring an […]
High hotel rates unlikely to fall
September 5, 2014 by
Myanmar’s hotel room rates, which average about US$160 per night, should remain unchanged in the medium term due to the slow completion of new properties and continued influx of visitors, according to New Crossroads Asia. In the recently released report “All That Matters”, the Singapore-based financial advisory firm that focuses on Myanmar said that the […]
Garment sector sees more investment
June 6, 2014 by
Six foreign invested and three local invested firms were given the green light to invest at the first meeting of newly-reorganised Myanmar Investment Commission on May 31. The meeting was held at Yangon Region branch with 43 items on the agenda, including investment proposals. The companies receiving approval included garment makers, surgical-equipment producers and a […]
Market potential for boutique hotels in Yangon
January 10, 2014 by
YANGON: According to industry players, Myanmar’s commercial city, Yangon, should consider repurposing or refurbishing existing buildings into hotels. Many said it will provide the accommodation which is badly needed throughout the city. Frederic Goubet, chairman of The Loft Hotel, said: “We provide a certain answer to the deficit (in accommodation) but we did it with […]
