Philippines’ Microtel to invest in Myanmar

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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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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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