August 19, 2016

Thai investments promote tourism in Taninthayi

THAI investments are expected to promote tourism in Taninthayi Region, according to Thai media.
A Thai company called Pongpipat has been building an international standard hotel in Taninthayi with an investment of US$125 million in an effort to capitalize on the promising tourism industry in the region.
The hotel is being built on 50 acres of land and is slated to take five years. Pongpipat has conducted mining operations in the Heinda Mine since 1999.
Investment is now pouring into Taninthayi Region’s tourism industry, mainly on Shidomel Island in Myeik District. Domel Island Development Co, with an investment of $25 million, plans to enter the resort business there. The company has already received approval from the Myanmar Investment Commission.
“Thai investors are keen on investing in Taninthayi Region. Hotels and resorts might develop on the beaches and the islands in Myanmar,” said U Maung Maung Swe, vice chairman of the Myanmar Tourism Federation.
Similar investments will be made by Thai entrepreneurs in hotel businesses in the Myeik archipelago. Thai companies are reported to be seeking approval from the Myanmar Investment Commission.—PPN/Union Daily


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