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Myanmar firm to lease Coco Islands
Publication Date : 21-08-2013
A Myanmar company has submitted a proposal to the government to lease out the Coco Islands for 50 years, according to an official from the Yangon Regional Government.
Located in the northeastern Indian Ocean, the Coco Islands are part of the Andaman archipelago and are abundant in natural resources that remain unexploited.
"A local company has submitted a proposal to lease out the Coco Islands. The proposal includes the plan to operate hotels and recreation areas for tourist attraction," said an official from the Yangon Regional Government.
The Coco Islands have a small airfield but it is difficult for airplanes to land so the local company has also proposed to build an airfield to pick up and drop off visitors from Yangon.
While the local company's name has not been disclosed, only a big company can run this project as it will require a lot of investments to operate hotels, recreation areas, and an airfield.
The waters around the islands have different colours and are transparent up to 10 metres down. These make the island a major attraction for domestic and foreign tourists, according to a report on the Coco Islands based on surveys made between 2009 and early 2010.
Yangon Division Peace and Development Council and the Myanma Five Star Line operated cruises to the Coco Islands in 2010, but they have now been stopped.