Myanmar Investments International (MIL) said it has entered into a joint venture agreement with leading Myanmar tourism entrepreneurs, U Thet Lwin Toh and Daw Lwin Lwin Kyaw.
The Company said the agreement will see the establishment of a new JV company, Myanmar Voyages Holding Company Limited by MIL and the Myanmar Partners that will invest into tourism-related assets in Myanmar.
Aung Htun, MIL's Managing Director said, "We are delighted to form this joint venture with such knowledgeable partners who have such well-established track records. Myanmar Voyages provides a solid foundation for MIL's entry into the tourism sector in Myanmar. Compared to countries such as Thailand and Cambodia, tourist arrivals into Myanmar are currently significantly below their potential, especially given the range of tourist destinations and attractions which exist. As such, we believe that tourism is a long-term growth sector and look forward to working with U Thet Lwin Toh and Daw Lwin Lwin Kyaw to establish Myanmar Voyages as one of the leading tourism platforms in the country."
U Thet Lwin Toh, MVI's Managing Director, said, "Through this partnership, we are aiming to help in the development of the Myanmar tourism sector. Together, we hope to create a platform with strong financial backing, sound management and advanced technology to take advantage of the rising and expanding Myanmar tourism industry."
At 2:09pm: (LON:MIL) Myanmar Investments International Ltd share price was +0.01p at 1.33p