Wednesday, 06 February 2013 16:21 Mizzima News
Motor Corporation announced on February 6 that it will resume automobile production in Myanmar following a two-year suspension at its Yangon plant.
In a statement on Wednesday, the Japanese auto giant said it has been approved by the Myanmar government to restart its automobile production and sales subsidiary, Suzuki (Myanmar) Motor Co Ltd, with 100 percent Suzuki investment.
“Suzuki (Myanmar) Motor Co Ltd is scheduled to produce compact truck Carry at an existing plant located in Yangon,” Suzuki said on its website. “It is planned to expand automobile production and sales in Myanmar, as the infrastructure development advances in line with the economic liberalization.”
Suzuki says it will invest about US $7 million to restart its venture in the former Myanmar capital, and is looking at beginning production in May.
“The factory will initially produce just 100 Carry mini-trucks monthly for the local market, with up to 90 local employees,” said an AFP report.
No mention was made about Suzuki’s announcement in October that it planned to open a car production factory in the Thilawa Special Economic Zone by 2015.
The Suzuki announcement coincides with a visit to Myanmar by Keidanren, an influential Japanese business lobby, which met with Myanmar President Thein Sein and other ministers in Naypyitaw.
The Japanese government last week wrote off some $3.2 billion – nearly 60 percent of the debt it was owed by Myanmar.
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In a statement on Wednesday, the Japanese auto giant said it has been approved by the Myanmar government to restart its automobile production and sales subsidiary, Suzuki (Myanmar) Motor Co Ltd, with 100 percent Suzuki investment.
“Suzuki (Myanmar) Motor Co Ltd is scheduled to produce compact truck Carry at an existing plant located in Yangon,” Suzuki said on its website. “It is planned to expand automobile production and sales in Myanmar, as the infrastructure development advances in line with the economic liberalization.”
Suzuki says it will invest about US $7 million to restart its venture in the former Myanmar capital, and is looking at beginning production in May.
“The factory will initially produce just 100 Carry mini-trucks monthly for the local market, with up to 90 local employees,” said an AFP report.
No mention was made about Suzuki’s announcement in October that it planned to open a car production factory in the Thilawa Special Economic Zone by 2015.
The Suzuki announcement coincides with a visit to Myanmar by Keidanren, an influential Japanese business lobby, which met with Myanmar President Thein Sein and other ministers in Naypyitaw.
The Japanese government last week wrote off some $3.2 billion – nearly 60 percent of the debt it was owed by Myanmar.
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