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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