Singapore keen to invest in Myanmar's hotel sector

Yangon, May 27 (IANS) Businessmen from Singapore are keen to invest in the hotel and tourism sector in Myanmar.

A 15-member delegation of the International Enterprise Singapore Business Department Trip to Myanmar, led by Tan Soon Kin, group director of the Southeast Asia Group, has held discussions with officials of Myanmar's ministry of hotels and tourism, Xinhua reported citing the biweekly Eleven News.

Singapore is the biggest foreign investor in Myanmar's hotel and tourism industry, running the Sedona Hotel and Park Royal Hotel in Yangon and the Sedona Hotel in Mandalay.

Other major foreign investors come from Thailand, Japan, Hong Kong, Malaysia and Britain.

According to the report, the US was also keen to invest in Myanmar's tourism sector.

At present, Myanmar has 22 foreign-invested hotels, nine government-owned hotels and 678 private hotels.

To create more job opportunities for the locals, the Myanmar government is expected to launch more than 50 hotels across the country over the next two years.