doing business in myanmar – what you need to know as a singaporean
More Japanese car parts companies are expected to enter Myanmar to meet demand from existing automobile manufacturers with facilities in Thilawa Special Economic Zone, said Japanese Ambassador to Myanmar Mr Ichiro Maruyama.
Japanese car maker Suzuki currently operates a car assembly plant in Thilawa, while Toyota will begin operations at the SEZ in 2021, Mr Maruyama said at Myanmar Thilawa SEZ Holdings’ (MTSH) sixth annual general meeting on September 1 in Yangon.
“Suzuki has started to invest in Thilawa SEZ, building factories and producing cars. Toyota has also made an official decision to invest. When they come, many car parts companies will be needed to support manufacturing,” he said.
Suzuki has been operating in Myanmar since 1998 and set up a plant in Thilawa SEZ in 2015. The company has so far invested US$60million in its facility, where it has been assembling the Suzuki Swift since 2018.
Toyota is currently building its first factory in Myanmar in Thilawa where it will locally produce the Toyota Hilux from February 2021. Toyota currently sells the Hilux, Vios, Rush, and other vehicles in Myanmar by relying on imports.
The car maker is expected to invest some US$52.6 million in the facility. It intends to assemble around 2500 Hilux vehicles in 2021, said MTSH chair U Win Aung.
If more car parts companies invest in Myanmar, they can pass on Japanese technologies and manufacturing know-how to local small and medium enterprises, Mr Maruyama said.
Source: Myanmar Times
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