Skoda Plans To Set Up Production In Myanmar
Investvine, A Company of Inside Investor, Ltd.
Jul 02, 2019

Car makers from the Czech Republic and Hungary are interested in assembling vehicles in Myanmar, according to a statement by U Thaung Tun, Myanmar’s minister for investment and foreign economic relations, the Myanmar Times reported.

He said that Skoda, the Czech unit of Volkswagen Group, would potentially invest in a production facility in the country.

“The Czechs sold Skoda in Myanmar in the past and now they have made an offer to start production here,” the minister said at an investment promotion event held on June 26 in Naypyitaw.

In addition, Hungary has offered to manufacture electric cars in Myanmar, said U Aung Naing Oo, permanent secretary of the ministry.

“Hungary is making plans to cooperate with the ministry of industry. It will be an assembly plant,” he said, without revealing the brand behind the project

Hungary and Czech Republic made the offers during state counsellor Aung San Suu Kyi’s Europe visit last month, he said.

“We have actually received many enquiries from foreign countries to invest in Myanmar, and producing automobiles is among the popular questions asked, not just by the Japanese and other Asians but also by the Europeans,” U Thaung Tun said.

On May 30, Toyota Motor Corporation announced that it will establish Toyota Myanmar Co Ltd in Thilawa Special Economic Zone as its first vehicle production company in Myanmar, where it will locally produce the Hilux starting from February 2021.

Company Investvine, A Company of Inside Investor, Ltd.
Contact Imran Saddique