Feb 3, 2014

Five stars hotel and shopping mall to be constructed in downtown Yangon

Myanmar Investment Commission (MIC) has already allowed Adventure Myanmar Tour @ Incentives Co., Ltd to construct five star hotel, shopping mall, economic center building and service apartment on a 7-plus acres of land in the compound of State Defense University on Shwedagon Pagoda Road in Dagon Township, Yangon Region.

The meeting of the MIC held in Nay Pyi Taw on January 30 decided to allow the Adventure Myanmar Tour for the construction of the facilities through BOT system. The designated location is on the land plot no 63.

To achieve the permission from the MIC, those wishing to run businesses have to fill up the designated proposal form. These proposals have to be submitted to the MIC in Nay Pyi Taw and its branch office in Yangon Region.

Complete proposals have to be discussed at the meeting of the Proposal Assessment Team. The meeting has to make decisions on which proposals are accepted or objected. Regarding the accepted proposals, the MIC has to ask for attitudes from concerned state and region governments. The MIC issues out permissions if it decides to allow the proposals.

Source: Eleven Weekly Media