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FDI in hotel and tourism projects hits US$2.9 billion


(File) Workers are seen at the construction site of the Novotel hotel in Yangon, Myanmar, 04 September 2013. Photo: Lynn Bo Bo/EPA

(File) Workers are seen at the construction site of the Novotel hotel in Yangon, Myanmar, 04 September 2013. Photo: Lynn Bo Bo/EPA

Foreign direct investment (FDI) in Myanmar’s hotel and tourism projects has reached US$2,918.5252 million, state media reported on 2 September quoting figures from the Ministry of Hotels and Tourism.

Currently, there are 52 hotel projects in Myanmar, both FDI and joint investments.

Singapore is on the top of the list in FDI in Myanmar’s hotel sector with an investment of US$1,624.1944 million, followed by Thailand with an investment of US$445.63 million and Viet Nam with US$440 million.

The World Travel & Tourism Council (WTTC) predicts that Myanmar will be at or near the top place out of 180 countries in average annual growth before 2025 because of the growing GDP rate, the rise in income earned from the Myanmar tourism sector and long-term developments, including job opportunities, the report said. 

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