MIC granted permission for 3 foreign investors to engage in automobile sector within this year. The list includes 2 fully foreign investment companies, namely; Daehan Motors Company Limited (Hyundai), Precision Auto Engineering Company Ltd and 1 Joint venture Company called Gold AYA Motors International Group Company Limited. Shwe Daehan company will manufacture both motorcycles and motorcars under the brand name of Hyundai. Precision Auto Engineering Co Ltd was permitted to set up an automobile assembling and manufacturing plant in Kayin State. The plant will produce two-wheeler, three-wheeler and a four-wheeler eco-car production. China – based Gold AYA Mortar International Group Company started its construction work in Mandalay Myotha Industrial park and expected to commence operation within 7 months. The company will manufacture 7 different types of cars like SUV, MPV, Trucks, Hybrids and has a plan to introduce 10 new Models.

Source – Automobile Journal

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