Yoma and Sumitomo partner up

Yoma Strategic Holdings has entered into a proposed joint venture with Japan’s Sumitomo Corporation to distribute Hino trucks in Myanmar.

Hino, a Toyota group company, manufactures medium- and heavy-duty trucks and buses, and is a market-leader in Japan.

Andrew Rickards, Yoma Strategic’s chief executive, said the proposed joint venture would benefit both the logistics and tourism sectors.

“We are extremely confident in the prospects of our partnership with Sumitomo Corporation to distribute and service Hino trucks and buses in Myanmar. We have seen demand for robust trucks with good load capacity grow in tandem with the economy and with the continued improvements to infrastructure, and we expect this momentum to continue,” Mr Rickards was quoted in a press release. “Also, demand for long-distance coach services is likely to increase, particularly for travel between major cities, as urbanisation continues and tourism flourishes further.”

Source: Myanmar Times

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