Toyota Corporation (Yangon Branch) released a public announcement on 30 May about the formation of Toyota Myanmar (TMY) Company and the establishment of an assembling plant at Thilawa Special Economic Zone in June. As it will pour US$ 52.6 million in the factory project that will be run with about 130 staffs, the country will get investment and job opportunities for its citizens. The factory will start assembling 2500 Toyota Hilux cars per year under Semi Knocked-Down system in 2021. So, the factory will fulfill the auto requirement of Myanmar and ensure customer satisfaction in Myanmar.
Toyota Motor Corporation of Japan will have a 85% share, and the Toyota Tsusho Corporation, 15% share in the Toyota Myanmar Co.,Ltd. The good news is that the factory begins producing standard Japanese car in Myanmar this month.
The factory will produce cars and provide services that will be most suitable for the country. Myanmar is inviting responsible investments, and the Japanese investment will help develop the country’s industrial sector and increase the number of technicians. As Toyota will strive for improvement of human resources and proficiency, it is a great opportunity for us to acquire technological knowhow.