Singapore tops Myanmar's hotel industry investor list with 1.54 billion USD, followed by Vietnam with 440 million USD, and Thailand with more than 340 million USD

Singapore topped the list of foreign countries with investments in Myanmar’s hotel sector with a total investment of US$1.514 billion, according to the planning department of the Ministry of Hotels and Tourism.

Singapore invested in 21 hotel projects in the country. The next top investors include Vietnam with $440 million and Thailand with more than $340 million.

Asian countries contributed the largest share of investments with $2.6 billion, followed by the UK, Luxembourg and the UAE with $17 million.

Department official MyoMyint said: “Many Asian countries have made investments in the country’s hotel industry. Among them, Singapore tops the list. These investments are expected to rise year by year. Local investments have increased along with the massive inflow of foreign investments.”

Last year’s new foreign hotel projects include 21 from Singapore, one from Vietnam, ten from Thailand, four from Hong Kong, three each from Japan and Malaysia, one from South Korea, three from the UK and one each from Luxembourg and the UAE.

Between 2011 and 2015, the hotels and tourism sector was the fourth largest attractor of foreign investment into Myanmar whole. Most foreign investments into Myanmar flow into the country’s electric power sector and oil and gas sector.

Reference: http://elevenmyanmar.com/business/singapore-tops-hotel-industry-investor-list

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