DICA: Hotel & tourism lured 115 local investments

Published on : Tuesday, December 19, 2017

dicaAs per the latest reports published by the Directorate of Investment and Companies Administration or DICA, a total of 115 local investments, value of over US$686 million (934 billion kyat) has been made in the hotel and tourism sector at of the end of November 2017.

 
Around 774 investments have been made by the local investors worth nearly $2.5 billion related to the production sector, 46 investments worth of $2.16 billion in terms of the transportation sector, 67 investments worth closely $1.2 billion in the real estate development sector and 68 investments of over $491 million worth in the construction sector.

 
Local investment by local investors in the hotel and tourism sector made it stand fourth among sectors with 9.52 percent.

 
Local investors are required to fill in forms as well as submit them to the Myanmar Investment Commission (MIC) to meet the criteria for a tax exception.

 
Within a five-year period, Myanmar is anticipating of receiving a rush of $9 billion from the tourism industry, as per the second short-term five-year plan for national development. The government, of late has made the tourism sector an investment priority in terms of potential for generating jobs and an inflow of foreign currency.

 
The MIC established on June 7, 2016 after the new government took over the office.

 
Furthermore, 71 foreign investments of US$3 billion worth were allowed for the hotel and tourism sector as of November this year, according to the DICA.

Tags:


(No Like Yet)

Leave a Reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 AIME 2019
  • India UAE
  • 3 instanbul
  • 07 indywood 2018
  • 07 thehotelshowsaudiarabia 2019
  • 08 JTTX9 19
  • 09 uzakrota 2018
  • 10 OTM 2019
  • 11 BLTM 2019
  • 13 aite 2018
  • 13 TTWarsaw 2018
  • 14 SATTE 2019
  • 16 EMITT 2019
  • 16 IITM 2019
  • 17 AITF 18
  • 18 UITT 2019
  • 20 CITE_TTW 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. ISRAEL HOTEL INVESTMENT SUMMIT

      November 19 - November 20
    2. INTUR 2018

      November 22 - November 25
    3. TT WARSAW

      November 22 - November 24
    4. IITM HYDERABAD

      November 23 - November 25
    5. EyeforTravel Amsterdam 2018

      November 28 - November 29
Get our toolbar!
Review www.travelandtourworld.com on alexa.com