Myanmar’s junta leader Min Aung Hlaing appears to be involved in Russia-backed luxury housing projects and tourism through regime crony U Aung Myo Min Din, who is close to the coup leader and his family , to add to his already considerable wealth. A promotional program for the famous Ngaburi Beach in Rakhine State.
The Russia-Myanmar Association for Friendship and Cooperation (RMAFC) signed a memorandum of understanding with Ngaburi Development Co., Ltd. (the military government calls it a local company) to develop luxury beachfront condominium projects in famous famous Myanmar attractions and cooperate in the field of tourism. February 4 Beach, RMAFC Vice President Anatoly Bulochnikov attended the event.
Sources said that the man behind the project is hotelier U Aung Myo Min Din, who is not only the founder of Amazing Hotels & Resorts Group, but also a member of the Myanmar Hoteliers Association and Ngaburi Hotel Zone. Chairman of the committee.
According to the Directorate of Investments and Companies (DICA), Blokhnikov and another Russian citizen are listed as company directors, despite the junta’s description of Ngabri Development as a “local” company. The company is also active in forestry and logging, mining support services, specialty construction and motor vehicle trading.
“Nowadays, Ngaburi would never have achieved such development without his (Aung Myat Mintin) participation,” said a local businesswoman who owns hotels in Ngaburi and Miao U.
The project could even be developed on land he owns in Ngabri, she said.
According to data from the Ministry of National Defense, U Aung Myat Mindin’s Little Myanmar Co., Ltd. and Amazing Hotels and Resorts Co., Ltd. have leased 15 acres (6 hectares) of land in Ngaburi from the military for a long time. Transactions since 2007.
U Aung Myo Min Din, 53, who owns the stunning Ngaburi resort and Ngaburi Golf Club, is preparing to build another hotel on his 10-acre site in Ngaburi. Locals and hotelier sources said it would be a new addition to his Ananta hotel chain, which also includes Ananta Inle Resort in Nyaung Shwe and Myanmar’s Ananta Bagan Hotel in World Heritage Bagan. .
Before 2010, U Aung Myo Min Din reportedly operated a travel company, Adventure Myanmar Travel, and four hotels, including Hotel Amazing Kaytu in Taungoo, Bago. However, Amazing Hotels & Resorts Group has become the most successful hotelier in Myanmar’s hospitality industry since coup leader Min Aung Hlaing became military chief in 2011. From 2011 to 2018, his business grew to include 12 Amazing-branded hotels and resorts, an exceptionally rapid expansion for Myanmar, where obtaining bank loans and raising capital is extremely difficult. These multimillion-dollar luxury hotels are located in the country’s most popular destinations, including the commercial capital Yangon, Mandalay and multiple beaches.
His ties to the Min Aung Hlaing family date back to his high school years with Daw Kyu Kyu Hla, the wife of the army chief of staff, which many believe paved the way for his future success. Business sources told The Irrawaddy that U Aung Myo Min Din was a favorite of Min Aung Hlaing’s family because he was well-mannered and hard-working.
“Every businessman knows who can get a lot of money from whom, and who can help him expand his business in Myanmar in a short period of time.” A travel agency source said.
Hotel industry sources also said Min Aung Hlaing’s son, Aung Pyae Sone, had invested in the Ananta hotel chain. Given this connection, it is believed that Min Aung Hlaing’s family was likely involved in the recently signed Russian-backed deal for a luxury residential project and tourism promotion at Ngaburi Beach.
U Aung Myat Mintin previously denied having the support of the head of the junta and his family.
He is also one of the few hoteliers allowed to operate casinos in Myanmar. His Marvel hotel in Mandalay has been operating a casino since early 2022, a year after the coup, according to sources in the city.
In 2013, U Aung Myo Min Din and his wife Daw Aye Aye Myint’s Adventure Myanmar Group won the tender for the hotel, which rents out more than $400,000 a year. At that time, he signed a 30-year lease with the Mandalay Regional Government. The government is led by the military-backed Union Solidarity and Development Party (USDP) government.
“Most of the people who go there (Amazing Hotel) to visit the casino are Chinese citizens who come as tourists. Some live in Mandalay for business.” A Chinese who wants to gamble arranges transportation to Marvell Hotel said the travel agency.
But he has many other companies and businesses.
The establishment of the Adventure Myanmar Group of Companies was the first step in starting a business for U Aung Myo Min Din and his wife Daw Aye Aye Myint, with most of their other companies present in Myanmar, The Irrawaddy understands. Years and decades.
According to DICA, the group has been active in agriculture, crude oil and gas extraction, mining and quarrying, manufacturing of refined petroleum products, basic pharmaceutical products, construction, motor vehicle trade and telecommunications. His practice has expanded into these industries as well as hospitality and tourism nationwide. His companies in these other sectors include AMG Transport Company Limited, SV Resort Company Ltd., Min Din Company Ltd. and Minor Myanmar Co. Ltd.
From 2015, he expanded his business by founding other companies, namely Amaztel Company Limited, Safety Plus Myanmar Company Limited, Aung Myanmar Min Company Limited and Great Arts & Development International Company Limited.
In the latter, he is joined by two other directors who are also major shareholders of Hantharwady Development Public Company, which is in the process of obtaining state approval for a total investment of approximately US$184 million in mixed-use land development projects including housing and the Bago area industrial projects.
Revolutionary fighters and activists resisting the junta said it was clear that people like U Aung Myintdin were becoming the breadwinners of Min Aung Hlaing and those close to him.
“As long as they cooperate with the junta, they are funding the junta so that they can continue to oppress and slaughter the people,” said U Nay Zin Lat, a member of the parliamentary committee of representatives.
As chairman of the Myanmar Hotels Association, U Aung Myat Mindin’s role in generating foreign exchange income for the cash-strapped regime through tourism became more apparent in the last year.
Junta Hotels and Tourism Minister U Htay Aung discusses with U Aung Myo Min Din and some other leading hoteliers at the Myanmar Hoteliers Association’s annual meeting in Nay Pyi Taw on April 25, 2022. At the meeting, Aung Myinttin promised to overcome the challenges facing the hotel and tourism industries under the leadership of the junta, according to state media reports.
In January of this year, U Aung Myo Min Din was one of the key cronies invited by Min Aung Hlaing to attend the recent Independence Day commemoration in Nay Pyi Taw.
For observers monitoring the activities of Myanmar’s junta cronies, it was a sign that U Aung Myo Min Din — once the new kid in town — was no longer just hanging out with junta leaders. family-linked hotelier, but became a key figure. The cronies and pillars of the regime. The latest agreement with Russia in Ngabri may soon provide further evidence.