Thumbs down to full foreign investment in tourism sector

[DagonKhan]

DICA gives thumbs down to full foreign investment in tourism sector Published on Wednesday, 26 February 2014 22:39

YANGON—Foreign investors hoping to cash in on Myanmar’s burgeoning tourism sector are in for disappointment if they’re hoping for complete penetration into the market: full foreign investment will not be permitted, and joint ventures will be allowed only with Myanmar citizens, according to the Directorate of Investment and Companies Administration (DICA).

“At present, the DICA will not give permission to operate with full foreign investment in the tourism sector, and we are going to release an announcement of which industries will or will not be permitted for joint ventures,” said Aung Naing Oo, Director General of the DICA.

“Our department can’t yet give permission to invest in the tourism sector with foreign investment. We will announce the new industries after reviewing the permitted or not permitted enterprises and joint ventures which are granted by the Myanmar Investment Commission.”

Aung Naing Oo added that international firms who want to invest in the tourism sector don’t need to go to the MIC but can register at the Company Registration Office.

“But, we won’t allow permission for fully foreign investment and will grant joint venture permission only to citizens,” he said.

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You couldn't make it up...

[DagonKhan]

President Thein Sein discusses tourism boom with hoteliers Published on Saturday, 01 March 2014 00:27

BAGAN—President Thein Sein yesterday discussed matters related to Myanmar’s booming tourism industry with hoteliers in the Bagan Hotel Zone in Bagan Region, one of the country’s prime tourist destinations.

“These three groups—government, the hoteliers association and the administration sector—need to cooperate with each other to help increase the number of tourist arrivals in Myanmar. The government will be fulfilling the requirements of basic infrastructure such as communication access, water, electricity, and airports. Moreover, tourist safety and regional sanitation tasks will also be carried out together with the administration sector,” said the president.

“It is necessary to preserve cultural heritage as long-term conservation for the tourism industry to boom in ancient Bagan City. Tourists have to visit Bagan every year because Bagan possesses a lot of Myanmar’s cultural heritage. Moreover, four hotel zones are being built in Bagan and five more hotel zones will also be implemented. The government has planned an urban development project that includes no buildings near ancient pagodas.”

Thein Sein added that there will be hotel shortages whenever Myanmar hosts international standard conferences. This year alone, Myanmar is set to host the BIMSTEC meeting, the ASEAN Summit and the East-Asia Summit. Thus the number of tourist arrivals is bound to increase.

The president urged people to cooperate with the government in developing the tourism industry so that the socio-economic lives of the people will also develop.

In the evening, the president paid homage at famous pagodas in Bagan.

[DagonKhan]

International, Myanmar tour agencies encouraged to work together Published on Thursday, 27 February 2014 21:41

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Myanmar’s hotels and tourism deputy minister has invited the international tourism business community to work with local agencies to produce better results.

Speaking at the fifth World Ecotourism Summit in the Philippines, deputy minister of tourism Tin Shwe said that working together would be of mutual benefit for both foreign and local agencies. He added that Myanmar is currently focusing on its coastal ecosystem, the protection of its biodiversity and the maintenance of its mangrove forests.

Local agencies said that Myanmar still has virgin natural habitats to explore in the mountain ranges of Putao and Haka areas in the North, Loikaw area in the East and the islands and coastal areas of the South. Developing new tourism zones in these areas is important because these places will be attractive to tourists, they said.

Statistics show that the number of foreign tourists visiting the country has been gradually increasing over the past two years. Meanwhile, locals are becoming more interested in visiting other countries.