A Japanese automaker ASMO is planning to establish a spare parts factory in Shwe Lin Pan Industrial Zone in Hlaingthaya Township in the commercial city Yangon, local weekly the Voice reported, citing Myanmar Investment Commission.
ASMO, in cooperation with its Indonesian subsidiary PT ASMO Indonesia, will establish ASMO Myanmar Co Ltd and set up a motor car spare parts factory in Myanmar with CMP system, according to Myanmar’s investment governing body.
The company is distributing more than 30 motors for use in motor cars and will manufacture the spare parts locally.
Representatives from five Japanese firms including ASMO recently held a meeting with Myanmar Investment Commission.
ASMO established since 1979 is operating 18 subsidiaries around the world with more than 10,000 staff.
“Local production would cut the cost,” a senior official of National Planning and Economic Development Ministry said.