Ford plans to enter the Myanmar market, in Southeast Asia, with a full lineup of vehicles.
Ford’s plan is to bring as many of its most popular models to the Myanmar market by the end of 2013. This country is of utmost importance for Ford’s strategy to expand in the Asia-Pacific region. The company expects almost 70% of its global growth to come from this region in the next decade.
“Our entry into Myanmar is the latest step in Ford’s aggressive expansion in Asia Pacific, and will help us to more fully realize the opportunity within the ASEAN region,” said Matt Bradley, president, Ford’s Association of Southeast Asian Nation’s business, in a statement.
Due to its oppressive military regime, the Myanmar region has been off limits for the US exports over the past decades, but many of the censorship laws have been eliminated once the pro-democracy leaders took control. In 2012, President Barack Obama was the first sitting US president to visit Myanmar.
Ford is one of the latest US companies, besides Caterpillar, Coca-Cola and PepsiCo, to set up distribution networks in the country. Ford will join hands with Capital Automotive, a subsidiary of Myanmar conglomerate Capital Diamond Star Group, which will be the automaker’s exclusive partner and dealer.
Source: The Detroit News