Sunday 14 April 2013

A new hotel to be built in Sedona Hotel compound

Straits Greenfield Ltd. is planned to make investment to construct a new hotel in the compound of Sedona Hotel, according to the announcement of Directorate of Investment and Company Administration under the Ministry of National Planning and Economic Development.


Myanmar Investment Commission's (12/2013) meeting held in Yangon on April 5, 2013 has allowed Straits Greenfield Ltd. to implement the project phrase 2 including an international standard hotel and service residence with the value of US$80 million in Sedona Hotel compound.

The project has been permitted by Foreign Investment Law and according to the statistics shown, 32 countries have invested in Myanmar over US$42 billion until the end of February this year.

Myanmar Investment Commission has made 12 meetings between January 1 and April 5 this year and allowed 32 projects including beer, cigarettes, beverages, petroleum and natural gas sectors. The commission has mostly allowed the projects with piecework system.
 
source: Eleven Myanmar

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