Philippines’ Microtel to invest in Myanmar

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microtel-inn-and-suites-palawanPhilippine-based property group Microtel Corporation is preparing to invest in hotels, real estate and educational services in Myanmar, according to Myanmar Investment Commission (MIC), Eleven Myanmar reported.

Jose Mari del Rosario, Chairman of Microtel Development Corporation, visited the Directorate of Investment and Companies Administration (DICA) in Naypyitaw to discuss the rules and regulations regarding their investment.

The Microtel Development Corporation is known for its franchise Microtel Inns & Suites which numbers 300 hotels around the world including the Philippines, the US, Canada and Mexico.

Over $1.59 billion of foreign capital has been invested in Myanmar’s hotels and tourism industry and over $193 million has gone towards real estate developments.

The MIC has granted permissions to Myanmar companies and Singaporean firms to hire buildings and land in Yankin Township, Yangon Region under Build-Operate-Transfer agreements according to the new Foreign Investment Law.

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Reading Time: 1 minute

Philippine-based property group Microtel Corporation is preparing to invest in hotels, real estate and educational services in Myanmar, according to Myanmar Investment Commission (MIC), Eleven Myanmar reported.

Reading Time: 1 minute

microtel-inn-and-suites-palawanPhilippine-based property group Microtel Corporation is preparing to invest in hotels, real estate and educational services in Myanmar, according to Myanmar Investment Commission (MIC), Eleven Myanmar reported.

Jose Mari del Rosario, Chairman of Microtel Development Corporation, visited the Directorate of Investment and Companies Administration (DICA) in Naypyitaw to discuss the rules and regulations regarding their investment.

The Microtel Development Corporation is known for its franchise Microtel Inns & Suites which numbers 300 hotels around the world including the Philippines, the US, Canada and Mexico.

Over $1.59 billion of foreign capital has been invested in Myanmar’s hotels and tourism industry and over $193 million has gone towards real estate developments.

The MIC has granted permissions to Myanmar companies and Singaporean firms to hire buildings and land in Yankin Township, Yangon Region under Build-Operate-Transfer agreements according to the new Foreign Investment Law.

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