International Financial Cooperation will loan USD 80 million to Shangri-La Group to extend Traders Hotel in Yangon, according to a Mizzima report.
The Traders Hotel at the heart of the commercial city of Myanmar could offer 270 suites currently.
The number would be increased to 485 in the future and the group is also planning a Yangon Shangri-La Residence.
The hotel is one of the most successful hotel in Myanmar with average 85 percent of rooms occupied by guests.
IFC is an international organization helping reforming the Southeast Asian economy and providing investment-related aids.
Myanmar has launched its first nationwide census in 31 years Sunday with enumerators collecting data on census questionnaires. Myanmar last held its nationwide census for the last time in 1983. The census data will be collected in 12 days from March 30 to April and more than 120,000 teachers participated in the efforts as enumerators.
The United Nations Population Fund is supported the nationwide census in Myanmar. It said the outcomes would help donor counties assess the needs of the country in future projects.
The government has said the census is critical for the future development projects to be initiated in Myanmar in its awareness programmes.
The census was collected under the theme “Ensuring Everyone Counted Requires Counting Everyone”.
“Myanmar’s first census in 30 years will provide population data that is needed to promote inclusive development that can benefit people from all groups,” Janet Jackson, UNFPA resident representative in Myanmar is quoted as saying by DVB.
Myanmar has seen continued illegal timber trafficking despite government efforts to reduce logging, according to a VOA report.
According to a new report by London-based Environmental Investigation Agency, there are more than USD 6 billion trade in illegal timber in Myanmar.
The government has imposed a logging export ban with the effect as from April 1 to reduce degradation of the country’s forests.
According to the report, 6.4 million cubic meters of raw timber logs have been exported since 2000.
The report also noted that it is less than one-third timber reported to be bought by international buyers from Myanmar.
Faith Doherty of the EIA said Myanmar government’s lack of transparency over the timber trade “staggering”.
Myanmar government has ceased granting permits for construction of new hotels and other buildings in Bagan as they seek to acquire World Heritage status for the site, according to the VOA. Myanmar has been applying for the status for the cultural heritage zone for years. But the bid has been unsuccessful for mismanagement of ancient buildings in the area.
The former government has made improper preservations of many temples in the area with ancient pagodas dated back to 12 AD.
According to a report by DVB, president office minister Soe Thane admitted that the hotels in the area damaged the ancient buildings. The area has been badly damaged by an earthquake in 90s but most of the famous buildings are still in good conditions.
There are 75 hotels and guest houses in the archaeological site which is the major tourist attraction in Myanmar.
Myanmar’s newly appointed national team coach Radojko Avramovic said he has faith in the Southeast Asian team which saw no glory in years.
“It is no easy job to coach a team, especially a national side,” the Serbian is quoted as saying by FIFA.com report.
The former Yugoslavian and Notts County goalkeeper left Singapore after winning the regional title to coach Myanmar.
Myanmar broke ties with South Korean coach Park Seung-hua after quitting the SEA Games from the group stage.
“Myanmar were not so successful during the recent regional competitions,” Avramovic said.
He warned that it would take time to realize the goal of returning the struggling Myanmar team to glory.
- IFC TO LOAN USD 80 MLN TO SHANGRI-LA FOR TRADERS HOTEL EXTENSION
- MYANMAR LAUNCHES FIRST NATIONWIDE CENSUS IN THREE DECADES
- MYANMAR ILLEGAL TIMBER EXPORT LOOMS
- MYANMAR STOP ALLOWING NEW HOTELS IN BAGAN
- MYANMAR COACH SAYS HAS FAITH IN TEAM
- BC TO PROVIDE ENGLISH LANGUAGE COURSES TO MYANMAR TEACHERS
- JAPANESE EMBASSY CONTRIBUTES TO CONCRETE BRIDGE CONSTRUCTION
- OOREDOO TESTS 3G NETWORK IN MYANMAR
- INTERNATIONAL ENERGY GIANTS WIN OIL AND GAS TENDERS
- iGROUP OPENS RESOURCE CENTER IN YANGON UNIVERSITY
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