Myanmar Investment Commission has allowed Korea-based Daewoo Company to manufacture, assemble and provide maintenance services for passenger buses in Mingladon Township in Yangon, under a Joint Venture Investment.
Daewoo Bus Myanmar Company, a 25:75 joint venture between the Myanmar Trade Centre and South Korea’s ZYLE Daewoo Commercial Vehicle Company, has received approval from MIC to launch operations after the meeting held in Yangon on August 25. The company will invest a total of $5 million in a facility which will focus on making city buses and mini buses, said Soe Myint Aung, Director of Directorate of Investment and Company Administration.
The government has agreed to lease a state-owned factory to a joint venture between South Korean bus-maker Daewoo and Myanmar Trade Centre, paving the way for Daewoo buses to be built locally.
Daewoo will train local technicians in all stages of manufacturing and maintenance, train bus drivers and ensure spare parts are available for after sale service.
