Investors and tourists flock to Myanmar

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Busy times ahead for international air traffic in Myanmar

As calls for increased foreign and local investment are sounded by the re-emergent nation of Myanmar, more and more major regional players are signaling their interest in what analysts perceive are the incipient moments of an awakening economy.

For starters, the largest hospital group in Thailand, Bangkok Dusit Medical Services Plc (BGH), is conducting preliminary research to determine political risk and investment strategies, which should be complete in the upcoming months.

BGH has hospitals in all major cities in Thailand and owns 23.88 per cent of Bumrungrad, the largest private hospital complex in Thailand, which also sees the most medical tourist arrivals in the world.

The Shangri-La Group has gone a step further, making concrete intensions to move into Myanmar, according to the country’s Deputy Tourism Minister U Htay Aung, as reported by the Bangkok Post. A 240-room hotel by the group is currently in construction, while other hoteliers have announced investment intentions, including the Accor Group and India’s Oberoi hotel group.

Minister U Htay Aung also noted that while investors are invited to hold 100 per cent equity in projects, they cannot own land and must agree to a 45-year land lease period.

The anticipated inundation of tourists resulting from the removal of sanctions has prompted the government to reassess the capacity of transport infrastructure. A plan to create a second airport near the commercial capital Yangon with the aid of local and foreign investors has been announced.

The Hanthawady International Airport is planned to be located on 3,640 hectares 50 kilometers north of Yangon in the site of an aged airfield that was built by the Japanese during World War II. In 1994, a South Korean firm expressed interest in the project but it was ultimately never completed. The development of Hanthawady would make it the fourth international airport in the country, after Naypyidaw, Yangon and Mandalay.

During the first half of this year, foreign arrivals to Yangon and Mandalay have increased by 50 per cent, according to U Htay Aung. If infrastructural goals are met, Myanmar could realise its potential as becoming the next hot tourist destination in the region, rivaling current market leader Thailand.

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Reading Time: 2 minutes

Busy times ahead for international air traffic in Myanmar

As calls for increased foreign and local investment are sounded by the re-emergent nation of Myanmar, more and more major regional players are signaling their interest in what analysts perceive are the incipient moments of an awakening economy.

Reading Time: 2 minutes

Busy times ahead for international air traffic in Myanmar

As calls for increased foreign and local investment are sounded by the re-emergent nation of Myanmar, more and more major regional players are signaling their interest in what analysts perceive are the incipient moments of an awakening economy.

For starters, the largest hospital group in Thailand, Bangkok Dusit Medical Services Plc (BGH), is conducting preliminary research to determine political risk and investment strategies, which should be complete in the upcoming months.

BGH has hospitals in all major cities in Thailand and owns 23.88 per cent of Bumrungrad, the largest private hospital complex in Thailand, which also sees the most medical tourist arrivals in the world.

The Shangri-La Group has gone a step further, making concrete intensions to move into Myanmar, according to the country’s Deputy Tourism Minister U Htay Aung, as reported by the Bangkok Post. A 240-room hotel by the group is currently in construction, while other hoteliers have announced investment intentions, including the Accor Group and India’s Oberoi hotel group.

Minister U Htay Aung also noted that while investors are invited to hold 100 per cent equity in projects, they cannot own land and must agree to a 45-year land lease period.

The anticipated inundation of tourists resulting from the removal of sanctions has prompted the government to reassess the capacity of transport infrastructure. A plan to create a second airport near the commercial capital Yangon with the aid of local and foreign investors has been announced.

The Hanthawady International Airport is planned to be located on 3,640 hectares 50 kilometers north of Yangon in the site of an aged airfield that was built by the Japanese during World War II. In 1994, a South Korean firm expressed interest in the project but it was ultimately never completed. The development of Hanthawady would make it the fourth international airport in the country, after Naypyidaw, Yangon and Mandalay.

During the first half of this year, foreign arrivals to Yangon and Mandalay have increased by 50 per cent, according to U Htay Aung. If infrastructural goals are met, Myanmar could realise its potential as becoming the next hot tourist destination in the region, rivaling current market leader Thailand.

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