Japanese auto giant Mitsubishi has announced that it has signed an agreement to open an after-sales service in Myanmar.
“Mitsubishi Motors Corporation (MMC), Mitsubishi Corporation (MC), Yoma Strategic Holdings Ltd. (YSH) and First Myanmar Investment Company Ltd (FMI) wish to jointly announce that they have signed a Memorandum of Understanding (MOU) concerning the after-sales service business for Mitsubishi Motors in the Republic of the Union of Myanmar (Myanmar),” the firm said in a statement published in the Japanese media on Monday.
“Since the recent deregulation of automobile importation in Myanmar, a number of Mitsubishi Motors vehicles have been distributed through the used car market. As MMC currently does not have any official after sales service network in Myanmar, it has been a priority to establish this as soon as possible,” it said.
“Under this MOU, MMC, MC, YSH and FMI are now planning to establish an official service center firstly in Yangon, followed by Mandalay and Nay Pyi Taw. Each official service center will provide well-trained and highly qualified service technicians with genuine parts to existing Mitsubishi Motors vehicle owners,” the statement said.
Mitsubishi is one of the main investors in the Thilawa Special Economic Zone, a mammoth industrial complex planned southeast of Yangon which is largely being financed by the Japanese government.
Yoma Strategic Holdings is a Singapore-based company with stakes in Myanmar’s auto market, the agriculture sector and real estate.