Hugo.com learned from the “Myanmar Times” report on July 28: Today, there are more and more cars on the streets of Myanmar, which will drive the rapid growth of the auto parts market. At present, some internationally renowned automobile brands have established branches in Myanmar. Nissan recently announced that it will set up an assembly plant in Myanmar. Toyota has a similar plan, but it is currently under discussion.
With the increase of auto manufacturers entering the Myanmar market, the demand for auto parts is also increasing. Many entrepreneurs saw business opportunities and wanted to enter this field.
Recently, many auto parts manufacturers are planning to set up factories in Myanmar. For example, Malaysia’s APM Motor Company claimed to have obtained approval from the Myanmar Investment Commission in October last year to set up a factory in Bago.
Recently, 120 companies from Vietnam, the Philippines, Taiwan, the United States, the United Kingdom, China and other countries participated in the auto parts exhibition held at the Tatmadaw Exhibition Hall in Yangon on July 18-21.
Steven Chen, the regional manager of Yokers trade and market service agency, said that there are almost no auto parts produced in Myanmar, and almost all auto parts needed in the market rely on imports. “It is precisely because auto parts are dependent on imports, so the quality is uneven.”
According to industry insiders, most of them are imported from mainland China because China’s auto parts are generally the cheapest. However, nowadays, many consumers seek higher quality products, and auto parts from Taiwan are becoming more and more popular.
An auto parts shop owner said: “The auto parts in my shop come from all over the world, including Dubai, Thailand, China, Taiwan, etc., but most of my customers will still buy Chinese auto parts.”
When internationally renowned automobile manufacturers and auto parts manufacturers enter Myanmar one after another, Myanmar consumers will face more choices. Alex Pen, an official at the Taiwan Trade Center, said that investors are excited about the huge size of the Myanmar market, but the relevant policies are changing too fast, making people confused.
He said: “Businesses who go to Myanmar to participate in the auto parts exhibition are still a little worried. They don’t know whether Myanmar’s laws governing the auto parts market will change again.”