Private equity firm TLG has begun setting up a multi-million dollar company to operate cruises on the Upper Irrawaddy River in response to an easing of Western economic sanctions, reports Bloomberg financial news agency. The firm, which operates a similar tourism subsidiary in Cambodia, is currently going through due diligence and hopes to begin operating cruises in the new year. “Myanmar has received a lot of international attention, there is a renewed effort and focus in trying to get involved in the country,” said TLG chief Zain Latif. “There is a lot of infrastructure required, particularly in tourism.”
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