Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Tourism Sector is going to rise and Foreign Direct Investment Creates New Jobs in Myanmar

Author: Digital Kaway
by Digital Kaway
Posted: Feb 11, 2016

More than 90,000 new jobs could be created by the new foreign direct investment (FDI) in Burma during the 2013-14 fiscal year, state media. A report in the New Light of Myanmar newspaper on Thursday that Burma had "become the most attractive market in the neighboring countries" and that "it was on the right path towards democratic transition." "The job opportunities could be created for more than 90,000 workers in the country in fiscal year 2013-2014 due to the large foreign investment," the report quoted an official as saying the government investment. According to reports, FDI doubled to more than US $ 3.6 billion last fiscal year.

The increase of tourism in Myanmar is pushing foreign direct investment in the hotel industry. According to reports, FDI reached $ 2.7 billion. While last week, Melia and Hoang Anh Gia Lai Group announced a partnership in Melia Yangon, part of the project HAGL Myanmar Centre $ 550 million. According to an article in Travel Agent Central, there are 47 hotels invested in foreign investors with foreign investors poured more than $ 8 million dollars in the country, more than half of that amount, $ 4.3 billion was Singapore. Investment in tourism has created more than 150,000 jobs in Myanmar.

The Investment Commission of Myanmar with the aim to attract $ 5 billion in foreign direct investment last year also promote the manufacturing sector to create more jobs. U Aung Naing Oo. He cites, secretary of the Myanmar Investment Commission article, saying "I think that investors are becoming more confident in investing in the country in our economic prospects improve under strong legal infrastructure. We have made many bilateral agreements with the United States, Japan and European Union countries " investment property comes from the Asia-Pacific region, including Singapore, Vietnam, Thailand, Hong Kong, Japan and Malaysia. The United Kingdom, Luxembourg and the United Arab Emirates are also players in this market is still relatively untapped.

Myanmar investment in the sector has been a reported $ 55 million in 2011 and the number increased significantly to $ 553 million in 2014. The investment by local and foreign investors in the sector is expected to US $ 3 billion in 2015. Myanmar has received 3.5 million visitors and generated more than $ 1 million last year.
About the Author

Digital Kaway is a one of fast growing Digital Marketing Agency in Myanmar and we offer digital works such as social media marketing, search engine optimization, content marketing, email marketing.

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Digital Kaway

Digital Kaway

Member since: Feb 02, 2016
Published articles: 39

Related Articles