Chinese car manufacturer expands to Mandalay

CHINESE manufacturer expects the production of seven types of cars to commence in Mandalay Industrial Zone in the near future, according to Yan Yu, Shining Star International Holdings (SSIHL) chair. SSIHL is involved in real estate, hospitality, property management, education, healthcare and tourism related enterprises in China and Myanmar.

The exact location within the Mandalay Industrial Zone has already been chosen for the production and assembling of vehicles. The application form for the Myanmar Investment Commission (MIC) is being drafted, Mr Yu said at the China-Myanmar Economic Cooperation Forum.

According to the investment forecast, it will generate an estimated 10,000 cars per year. If permission is granted by the MIC, production will begin shortly, said Mr Yu.

Carrying out the plans requires a step-by-step approach and it is estimated to raise US$50 million of capital in the first phase. In order to produce cars in the country, the company plans to import the parts from China to produce suitable types of car for the Myanmar domestic market.

The SSIHL does not manufacture cars in China. Nevertheless, it expects to make seven types of cars chosen among 300 brands produced in China in the first phase. Furthermore, it would manufacture more trendy models targeting the young population, as well as models targeting families and corporate use.

The firm has applied for permits and is still waiting for the permission to import raw materials in order to begin car production in Myanmar.

Source: Myanmar Times