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Why is Serge Pun betting on tourism?


Published APR 25, 2019
By BEN DUNANT @FRONTIER

Tourism has borne the brunt of an economic slowdown and the international outcry over Rakhine, but one tycoon is feeling bullish about the industry.

TOURISM is low-hanging fruit in any country looking to develop,” says Mr Serge Pun, puffing on a cigar in the headquarters of Memories Group, a company that manages the Myanmar tycoon’s expanding portfolio of tourism assets

Those moaning and groaning,” he says, “are missing the bigger picture.

With an office set amid the golf courses and luxury homes of his 653-acre Pun Hlaing Estate, next to the Hlaing River as it bends towards downtown Yangon, Pun matches a large commercial appetite with a relatively clean image. This has made him a preferred partner for foreign investors with international brands to protect.

His role as the figurehead since early 2018 of the New Yangon City project, involving a Chinese construction company formerly sanctioned by the World Bank, has raised eyebrows, though a steady stream of information via town hall style meetings and an active website has distinguished it from other big infrastructure projects

Original Source: https://frontiermyanmar.net/en/why-is-serge-pun-betting-on-tourism

Created at 2019-05-16 00:42:17