A consortium of companies is hoping for approval for a large-scale automobile complex to be built on the outskirts of Yangon.
Members of the Myanmar Automobile Manufacturers and Distributors Association (MAMDA) established the Myanmar Automobile Development Public Company (MADPC) in mid-2014, with a view to building a complex that would promote the local vehicle industry.
The company has bought 300 acres of land in Mingalardon township in the north of Yangon, but is unable to develop the project until it has been approved by the regional government, said U Soe Tun, the company’s chair.
“We bought the land after the company was established. MADPC was structured in accordance with the rules and regulations of a public company, though it has yet to be listed,” he said, adding that the company was formed with 108 businesspeople from the automobile industry.
The complex will include car and spare-parts sales and service centres, as well as agricultural machinery sales centres, MAMDA’s information officer U Moe Kyaw Swar told The Myanmar Times on October 6.
Its aim is to gather Yangon’s automobile-related businesses in a single place.
“We’ve already presented it to Yangon Region government along with detailed designs, but haven’t received a response yet. We’ve also injected capital into it,” he said.
Some car sales centres in Yangon have run into difficulty as land prices rise, while others have found themselves without enough space to display cars. This automobile centre aims to relieve such problems, said U Soe Tun.
Representatives from the Yangon Regional government were unavailable for comment.
Source: Myanmar Times