Hotels and tourism, electricity: Chin’s priority investment sector

Hotels and tourism, electricity: Chin’s priority investment sector
Published 14 January 2020

 

Priority will be given to the companies which will invest in hotels and tourism and electricity sectors in Chin State, according to Myanmar Investment Commission (MIC). 

In addition, agriculture, livestock breeding, urban development and industrial zone are also included in the priority list. 

According to the 2018 census, Chin State has a population of over 500,000. Those who will invest in Chin State will enjoy a seven-year tax exemption. 

Tourism and agriculture sectors are the most promising sectors in Chin State. On the other hand, Chin State has difficult transportation access. 

Till the 2017-18 fiscal year, Chin State stood as a zero-investment state. Later, the investment committee granted the permit to a local company for the hotel business worth Ks over 800 million, according to the Chin State Directorate of Investment and Company Administration. 

Under the 2017 Myanmar Investment Law, Chin State is included in the list of Zone-A with a seven-year tax exemption. 

In the time of the incumbent government, the Framework to Attract Investment to Chin State was drafted led by Chin State Minister for Municipal, Electricity and Industry and under the directive of the Chin State Chief Minister. The priority sectors in the framework are hydropower, hotels and tourism, small and medium-sized enterprises and urban development. Chin State government invited local and foreign investments, according to the report on opportunities and challenges for the development of regional businesses. 

At the Chin State Investment exhibition in March 2019, Vice-President U Myint Swe said according to the geographical location, Chin State has good potentials for trade between India and Myanmar. The government invites many investment opportunities for the development of under-construction transportation and infrastructures.