Japanese automaker Suzuki Motor Corp. plans to build a factory in
Myanmar that will produce 20,000 to 30,000 cars a year and push
development of one of the world’s largest industrial complexes, sources
said.
Suzuki is expected to invest several billion yen in the assembly plant,
which is tentatively scheduled for completion by 2015, the sources said
on Oct. 8.
Companies around the world are looking to invest in Myanmar to cash in
on the country’s expected high economic growth in the coming years.
Suzuki’s plant will become one of the largest production centers in
Myanmar among foreign manufacturers.
According to the sources, Suzuki plans to build the plant on 40 hectares
in the suburban Thilawa district of Yangon, Myanmar’s largest city, and
will establish a wholly-owned subsidiary in the country. In the initial
years, the plant will manufacture several thousand cars a year.
“From now, we will check the land to see whether the ground conditions
have no problems. Then we will make the final decision (on the new
plant),” a Suzuki executive said.
Myanmar wants to develop the Thilawa district, located about 25
kilometers from central Yangon, into a huge industrial complex. The
government plans to designate the area as a special economic zone that
will offer eased regulations and tax breaks for foreign companies.
( Source THE ASAHI SHIMBUN)
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