Yangon Region Tourism Committee endorses over K8 bln worth hotel projects

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Yangon Region Chief Minister and regional tourism committee chair U Phyo Min Thein attends 6th committee meeting.  Photo: U Phyo Min Thein Facebook

By Nyein Nyein

Yangon Region Tourism Committee gave the green light to hotel businesses with an estimated capital of over K8 billion, according to the regional tourism committee’s meeting 6/2020.
The regional committee held a videoconference on 27 October and Yangon Region Chief Minister U Phyo Min Thein, in his capacity as chair of regional tourism committee, attended the meeting along with other committee members.
The committee has granted licences to two hotels with 75 rooms, and one hotel construction permit, bringing in the capital of K8,215 million.
Those hotel businesses are domestic investments to create local job opportunities.
As per the regional tourism committee meetings 1/2020 to 6/202, the local tourism committee has issued licences to 22 hotels with 1,570 rooms, four guesthouses, and construction permits to 14 hotels and two guesthouses. Meanwhile, the committee has also given grants to 291 inbound tours. The total capital for hotels and guesthouses is estimated at K89,165 million and US$38.865 million. The endorsed projects have created over 1,300 jobs.
Yangon, the commercial hub of the country, is attracting tourists due to its cultural significance and heritage. The ministry has been issuing licences to hotels and guesthouses, ensuring sufficient rooms, the Ministry of Hotels and Tourism stated.
Yangon’s most famous landmark is the Shwedagon pagoda, and the city boasts several gilded pagodas besides British colonial buildings, heritage sites, and business complexes. The Inya Lake and Kandawgyi Park are among other tourist destinations in the city.
Additionally, a community-based tourism (CBT) site was created in Kyaikthale village in Twantay Township, Yangon Region in February 2017. More than 2,000 local and foreign travellers have visited the village as of 30 September last year.
Earlier, the hotels and tourism sector was regulated by the Union Government. With the implementation of the Myanmar Tourism Law 2018, the industry has been decentralized and more power according to the region and state governments, Yangon Region government stated. (Translated by Ei Myat Mon)


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