In the last nine months, 35,282 parking space recommendations, which proves that a car importer has sufficient space to park the car, have been issued, according to the Ministry of Commerce.
Under a new law, introduced in January this year, an individual importer or a company who apply for a car import licence need a parking space recommendation.
The law aims to reduce the traffic congestion in Yangon, while complying with a union mandate not to restrict car imports. Previously, a backlog of cars waiting at ports around the country proved problematic.
“We are carefully examining the applications of parking space recommendation. Also we do follow ups whether they park their cars in their designated parking places,” said U Myint Cho, director of the Parking Space Recommendation Department, told Myanmar Business Today.
The duration of an approved parking space recommendation is one month, meaning that the importer must import the car within one month of receiving the recommendation.
According to the Department, it has approved 23,506 parking recommendations for individual importers and 11,776 parking recommendations for group importers.
Also YCDC said it will seize cars that don’t park in their applied parking space under municipal bylaws.
Due to the high demand of parking space caused by rising car imports, a broker’s market for this recommendation has sprung in Yangon’s Thirimingalar car market. A slip that proves the availability of a parking space can cost up to K700,000, according to car brokers at the market.
Source: Myanmar Business Today