Yangon Region Tourism Committee issues four hotel business licences

Yangon Region Tourism Committee granted licences for four hotels and one hotel construction permit at the meeting 1/2024 held at the meeting hall 4 of the Yangon Region government office on 29 March.
The committee issued four hotel licences and one hotel construction permit, having a total of 452 rooms, with an estimated capital of K20.7 billion and US$4.6 million, on 24 October at the meeting.
Additionally, the committee endorsed 64 tour licences (inbound and outbound), 42 tour agency licences, 21 tour guide licences and 22 domestic pilgrimage tour certificates. Those businesses are investment projects made by Myanmar citizens, creating over 437 jobs for locals.
After the endorsement of the projects, tourism development activities were addressed at the meeting.
At the meeting 2/2023, the committee also granted licences for six hotels, one hotel construction permit, one motel licence and one motel construction permit, having 474 rooms, with an estimated capital of over K23 billion and creating 189 jobs. The committee issued six hotel licences and one motel construction permit having 217 rooms at the last meeting 1/2023, with an estimated capital of over K10 billion, creating 120 jobs for locals. 

Source: The Global New Light of Myanmar

Myanmar aims toachieve US$16.7B inexports, US$16.3Bin imports for 2024-2025FY

Myanmar is expected to meet a trade target of $16.7 billion in exports and $16.3 billion in imports for the 2024-2025 financial year.
Myanmar aimed to achieve a foreign trade balance of $16.5 billion in exports and $16 billion in imports in the 2023-2024 FY.
The country’s GDP (gross domestic product) is expected to grow by 3.8 per cent. Agriculture is expected to contribute 2.5 per cent to Myanmar’s GDP growth, 0.8 per cent is likely to come from the livestock sector, 9.9 per cent from the forest sector, 9.8 per cent from minerals and 4.2 per cent from the industry, 6.3 per cent from electricity, 3.9 per cent from construction, 6.6 per cent from transport, 7.3 per cent from telecommunications, 2.7 per cent from finance, 6.3 from other services and 3.8 from trade sector respectively.  Meanwhile, the energy sector is expected to decline by 6.5 per cent, according to the 2024-2025 Financial Year’s National Plan.
According to the statistics of the Ministry of Commerce for the FY 2023-2024, almost ending, imports worth over $15 billion surpassed the exports worth $14.3 billion, showing a trade deficit.
Myanmar exports agricultural products, livestock, fishery, minerals, forest products, manufacturing goods and other goods to the external market. At the same time, it imports capital goods, intermediate goods, consumer goods and raw materials goods imported by the CMP enterprises.

Source: The Global New Light of Myanmar