Suzuki, the Japanese automaker announced to invest millions of dollars to build a new plant in Myanmar
which will be the second one for Suzuki in the country. The company aims to make quick inroads in the country’s growing market by increasing Suzuki’s output in Myanmar more than five times. The plant will initially employ 300 people and the total investment is expected to amount to several billion yen.
The company has decided to build the plant on 20 hectors plot at Thilawa special economic zone Southeast of Yangon. The construction will be started later this year and is expected to complete in 2017. The new plant will assemble imported parts and initial outputs that it will be able to produce about 10,000 cars a year including the Ertiga, a seven seat compact.
Suzuki Motor Corporation is Japan’s fourth largest automaker (trailing Toyota Motor Corporation, Nissan Motor Co., Ltd., and Honda Motor Co., Ltd.), marketing its vehicles in more than 190 countries around the world. Suzuki is now assembling around 150 Carry mini-pickup trucks per month at its first factory in South Dagon Industrial Zone in Yangon. The plant was built in 1998 through the local joint venture but the firm resumed the production there only in 2013. Current Myanmar’s automobile market is dominated by another Japanese brand, Toyota and Suzuki is one of the top public preferences locally. Japanese companies including automakers have invested in large amount in Myanmar and getting involved in several key infrastructure projects since the democratization process began in 2011.
