Ford will soon begin distributing cars and pickup trucks in Myanmar, according to the head of Ford’s local partner.
Ford will open in May its first showroom in Yangon, Myanmar as the automaker is “gearing up for market entry” and already has a local distributor, according to Khin Tun, the director of Capital Automotive. Other important companies such as Coca-Cola, GE, PepsiCo, Caterpillar and Carlsberg have signed distribution deal in Myanmar, as the economic and political reforms quickly transform the country into an invetor darling.
Many Western companies have avoided making long-term, large investments here due to the uncertainty regarding the stability of Myanmar’s transformation and also fears that the United States could reinstate sanctions. Ford’s distributor in Myanmar is Capital Automotive, a unit of the Capital Diamond Star Group.
Last month, Suzuki Motor has received approval from the Myanmar government to establish a new production plant in the southeast Asian country. Suzuki plans to invest about $7 million in its plant located in the Thilawa district, Yangon, to start the production of compact trucks. Myanmar is beginning to open its markets and economy to outside investors but currently there’s almost no market for new cars.