Travel companies, hotels and lodges receive K21.4 billion loan

NATIONAL NEWS

A K21.4 billion loan was issued by the State to travel companies, hotels, and lodges for the purpose of tourism development, according to Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing at the World Tourism Day event.
He added that K21.4 billion had already been lent to 244 travel companies and 339 hotels and lodges to date from the amount specified to use three to four per cent of the national budget under the COVID-19 Economic Relief Plan.
In addition, relaxations such as deferring rental for six months for state-owned hotels, offering rental reduction for a total of 21 months from April 2020 to December 2021, and granting exemption of business licence fees for hotels, motels, tourism businesses, and tour guides for one year, were made.
Over 250 million tourists around the world entered the countries between January and May in 2022 whereas there were 77 million in the same period of the previous year. About 173 million more tourists, 225 per cent in terms of percentage, came in this year, according to statistics from the World Tourism Organization.
There is a growth in domestic tourism in Myanmar as the epidemic situation of the COVID-19 disease has decreased since October 2021. International airlines have also been re-opened starting from 17 April 2022.
The World Tour e-Visa has been issued on 20 May 2022 since great potential is seen in the tourism industry. The Prime Minister added that it is expected that domestic and foreign tourism in Myanmar will further improve in the open season and bring benefits to all business sectors.
In addition to providing employment opportunities for people in urban and rural areas, ethnic traditions, cultural heritage, natural resources and beauty can be displayed as well. — TWA/GNLM

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