Press Release & Industry News
Yangon approves $238M in hotel, tourism investments
Yangon’s Regional Tourism Committee recently announced that investments totalling US$238 million and K119.63 billion were approved for the region’s hotels and tourism sector between May and August.
In the same period, the committee approved investments for 33 new hotels and eight guest houses, approved 18 new hotels, 400 new travel agencies, and 200 tour guides.
The surge in activity comes on the heels of new regulations calling for the formation of regional and state tourism committees headed by chief ministers of states and regions. The committees are empowered to approve investments in the hotels and tourism sector in their respective regions and states.
Meanwhile, Yangon’s department of Hotels and Tourism reported that over 743,000 travellers visited Yangon in the seven months up to July, 100,000 more than in the same period a year ago.
There are currently some 430 hotels and motels operating in Yangon Region, according to government data.
“Now, we are starting a rating system in Yangon and working to ensure quality control in tourism services. We need to encourage businesses in the sector to provide a full range of services to encourage tourists to come more than once,” said Yangon Region Minister of Hotel and Tourism Daw Naw PanThinzar Myo.
Having a rating system will encourage hotels in Myanmar to pay closer attention to the services they provide and raise the standard and quality of the hotel industry, she added.Source: https://www.mmtimes.com/news/yangon-approves-238m-hotel-tourism-investments.html