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#Thai-Myanmar joint venture to build $250,00 hotel in #Kawthoung

The government has approved a proposal by Thai-Myanmar joint venture to build a US$250,000 (K346.3 million) hotel project on Hlaing Gu Island off Kawthoung in Tanintharyi Region, the Directorate of Hotels and Tourism has announced, according to the Directorate of Hotels and Tourism.

KMOT Company intends to build the project with 20 bungalows under the build-operate-transfer system.

“The Investment Commission has approved the project and we hope to start operations quickly. We expect to be able to host visitors by next year,” said an official with the Directorate of Hotels and Tourism in Kawthoung.

Currently, there are more than 10 travel agencies operating in Kawthoung and about nine hotels with a total of 500 rooms, according to the directorate.

Most people visit the islands off Kawthoung by motor yachts, which are owned by a Thai national. It’s popular for diving tours, and about 350,000 tourists visit every year, most of them are from Thailand.

“At present, the travelling cost to the Myeik Archipelago is still high. Besides, the area is still in need of tourism infrastructure such as boats, and accommodations for visitor. So, the idea to develop hotels there is good,” said U Myo Aung, owner of a local tour company.

An Italian company was also granted approval to invest in a US$3.2 million joint-venture hotel project in Kawthoung, last August, the directorate says. It is the first Italian company to invest in Myanmar. Fork Island, Tha Ye Island, Kyet Mauk Island, Lampi Island, Nyaung Oo Phee Island, Hlaing Gu Island, Done Waterfall, Bocho Island are among the more popular destinations off Kawthoung, according to tour agencies.

In 2017, more than 330,000 tourists visited Kawthoung, and the number rose to 350,000 in 2018. Last year, the number of visitors dropped to 320,000, according to the statistics from the Directorate of Investment and Company Administration. – Translated

Courtesy from Myanmar Times

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Myanmar Company Registration

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Myanmar Company Incorporation

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DICA Expects $3 Billion FDI During the 2018 Transitional Fiscal Year

Directorate of Investment and Company Administration (DICA) forecasted that $3 billion in foreign direct investments will flow into Myanmar in first six months of this fiscal year, from April 1 to September 30.

Source: DICA Expects $3 Billion FDI During the 2018 Transitional Fiscal Year

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Tourist Arrivals in Myanmar’s Second Largest City Up 26 Percent in 2017

Tourist arrivals in Myanmar’s second largest city of Mandalay in the north increased by about 100,000 or 26 percent correspondingly, hitting 483,784 in 2017, according to a latest statistics of the Directorate of Hotels and Tourism of Mandalay region.

Source: Tourist Arrivals in Myanmar’s Second Largest City Up 26 Percent in 2017

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Myanmar - Global Carmakers to Invest at Least $90 Billion in Electric Vehicles

Myanmar – Global Carmakers to Invest at Least $90 Billion in Electric Vehicles

Ford Motor Co’s plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows.

Source: Global Carmakers to Invest at Least $90 Billion in Electric Vehicles

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GDP Expected to Grow 7.2 Percent in Six-Month Transition Period

Myanmar GDP is expected to grow to 7.2 percent in 2018 Fiscal Year whose period is six months starting from April 1, 2018 to September 30, 2018, because of New Fiscal Year format.

Source: GDP Expected to Grow 7.2 Percent in Six-Month Transition Period

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Yangon Service Office

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Myanmar Companies Act approved

President U Htin Kyaw signed the Myanmar Companies Act at the Pyidaungsu Hluttaw Wednesday, approving the most anticipated piece of legislation in the country this year.

Under the new Myanmar Companies Act, foreigners will be permitted to take up to a 35 percent stake in local companies. It also stipulates that businesses with foreign stakes of more than 35pc will be classified as a foreign…

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Myanmar Govt allows foreign JVs to trade agri machinery

In a bid to industrialise and further develop Myanmar’s agriculture sector, the Ministry of Commerce will permit foreign joint ventures operating in the country to import and sell agri-related machinery.

The move will also help to modernise the local agri-products manufacturing sector by raising productivity and longer term cost-efficiency.

The companies are permitted to sell machinery at…

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Myanmar Demand for new Yangon office complexes to continue rising

With more foreign direct investments (FDI) expected to flow into Myanmar due to insurance sector developments, enactment of the Investment Law and anticipated approval of the new Company’s Act, real estate developers have been urged to build more international-standard office complexes to accommodate demand.

“There is potential for development. Insurance sector developments and new…

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Myanmar Eurowindow – The total solution provider of European Standard Doors and Windows

Eurowindow was established on August 29th 2002, after 15 years of continued growth and nearly 4,000 in staff, including qualified experts, engineers and highly skill technicians. We have become not only the No.1 solution provider of doors and windows in Vietnam, but now weare expanding their business to other countries in the world. In 2017, the Representative Office of Eurowindow has been…

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Myanmar More buyers expected to opt for new left-hand-drive cars

Since the government’s new car import policy permitting only imports of left-hand-drive vehicles into Myanmar from 2018, speculation over the value of existing right-hand-drive cars in the country has risen, prompting rumours of higher prices for such vehicles.

While prices have indeed risen, car dealers said consumers ultimately base their purchasing decisions on the car manufacturer.

“Cons…

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Myanmar Asian FDI into Myanmar continues despite Rakhine crisis

Asian businesses have continued to invest in Myanmar despite the unfolding humanitarian crisis in northern Rakhine.

Bangkok-based construction company TTCL Pcl is one of the latest examples, targeting the first half of next year to complete a funding plan and shareholder structure for a planned $3 billion coal-fired power plant in Kayin state bordering Thailand.

“We’re aware of the internal…

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Myanmar Nestle to produce half of its products in Yangon

Imports of Nestle products to Myanmar would be reduced to 50 per cent next year when the firm’s recently-opened factory in Dagon Seikkan Township of Yangon reaches full production.

HayriDevrimCobek, managing director of Nestle Myanmar, said in an exclusive interview all the Nestle products in Myanmar have been imported from other Asean countries until this year, but its factory plans to produce…

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Myanmar Govt allows foreign JVs to trade agri machinery

In a bid to industrialise and further develop Myanmar’s agriculture sector, the Ministry of Commerce will permit foreign joint ventures operating in the country to import and sell agri-related machinery.

The move will also help to modernise the local agri-products manufacturing sector by raising productivity and longer term cost-efficiency.

The companies are permitted to sell machinery at…

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Myanmar New Companies Act with lesser restriction

“Both Pyithu Hluttaw, lower house, and Amyotha Hluttaw, upper house, have passed the Myanmar Companies Act; just one stage remains to implement the Act – President’s signature,” Dr. Wai Phyo Aung, member of Bill Committee and MP from Tharaka constituency, said.

‘‘The bill has been passed by both parliaments and sent to the president. If the president returns it with remarks, we will have to…