Car companies from Japan and Thailand are now planning to build car and spare part factories in Myanmar, according to the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
“The Japanese and Thai firms discussed building of auto and spare parts factories in Myanmar. They are now looking for local companies that will make a joint venture with them,” said Zaw Min Win, Vice-President of the UMFCCI.
Suzuki is planning to start a factory to produce parts in the Thilawa Special Economic Zone.
Foreign car companies including Nissan, Mitsubishi, Suzuki, Toyota, Ford, Chevrolet, Mercedes-Benz, KIA and Hyundai have all opened show rooms and service shops in Myanmar. Jaguar, Land Rover, BMW and Mazda will also open centres soon.
APM Automotive Indochina Company and ETCM will operate the Nissan car factory on 100 acres of land located in Bago region. The investment will be expected to reach more than $ 200 million.
After the government opened up car imports in 2012, up to 10,000 cars a month are currently being imported to Myanmar.