Myanmar Investment Commission has approved the manufacturing and distribution of Nissan cars in Myanmar by Tan Chong Motor (Myanmar) Co Ltd on August 15, according to a report from the Ministry of National Planning and Economic Development.
Malaysia-based Tan Chong Motor Holdings Bhd (TCMH), the business partner of Japan's Nissan Motor, has engaged in discussion with Myanmar authorities since last year to manufacture and distribute Nissan cars and spare parts in Myanmar.
TCMH Group's subsidiary ETCM (MM) Pte Ltd (Malaysia), registered as Tan Chong Motor (Myanmar) Ltd, is now to set up an automobile assembly plant in Bago Region.
Tan Chong Motor (Myanmar) will conduct the business as wholly-owned and a hundred percent foreign investment, said the ministry's report.
Meanwhile, Malaysia-based APM Automotive Indochina was also approved by the Investment Commission on August 15 to manufacture and distribute car spare parts.
As a hundred percent foreign investment, APM Auto Components Myanmar Co Ltd was allowed to build a manufacturing plant in Bago Region.
Other international auto-makers are also planning to open car sale centres and car showrooms in Myanmar by themselves or by their representative companies.
Myanmar lies on the crossroads of two of the world's great civilizations – China and India . Its culture is a blend of both interspersed with Myanmar native traits and characteristics. Buddhism has great influence on... ... More