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    MARKET SNAPSHOT OF MYANMAR’S AUTOMOTIVE SECTOR HIGHLIGHTS ITS WEALTH OF BUSINESS OPPORTUNITIES  
     
  Over the last several years, Myanmar has experienced a dramatic growth in motor vehicle sales, with an 80% increase in the first nine months of 2017 as reported by the ASEAN Automotive Federation. Furthermore, the British Chamber of Commerce Myanmar released a market snapshot report in 2017 on Myanmar’s automotive sector, indicating that it still has much positive growth to look forward to.

As Myanmar’s infrastructure continues to develop, there will be progression in the automotive industry both for primary and local second tier parts suppliers. There are opportunities for automotive production facilities to be located in the Thilawa Special Economic Zone (SEZ) near Yangon. SEZ’s across the country offer incentives and tax breaks in specific sectors to encourage and stimulate foreign investment in Myanmar.

In regards to Myanmar’s automotive aftermarket, the majority of passenger and commercial cars in circulation are second-hand, which means there is a higher demand for spare parts and after sales services. This has resulted in an impressive growth phase for the automotive aftermarket. It has been noted that there are limited local spare parts production, which relies heavily on import products from local importers and distributors. Specific automotive accessories with greatest potential demand in the market are; batteries, oil filters, lubricants and tires. As the number of new cars continues to rise, attitudes amongst cars owners are changing in their approach to servicing their vehicles and are more likely to choose high quality spare parts. Branded spare parts are also likely to find a place in the market today.
 
     
   
     
  The market snapshot also mentioned that although the number of vehicles in the country is rapidly growing, the need for maintenance and repair services for automobiles remains underdeveloped in the market. A new generation of skilled mechanics and technicians will need to be trained to service and repair computerised vehicles. There are opportunities for training schools which can provide international recognised certificates and independent automobile service chains that can provide additional vocational training or on-the-job training.

These are but a few of the factors indicating Myanmar’s growing automotive sector and its various opportunities for those looking to do business or invest in Myanmar’s lucrative automotive industry. The upcoming MYANAUTO 2018 Expo is the number one platform for companies and entrepreneurs to make the most of the opportunities.

Recognised since 2013 as the Industry's Biggest Automotive Parts, Accessories and Servicing Expo, the MYANAUTO Expo will be held this year at the Tatmadaw Hall in Yangon from 9 to 11 November. The event is expected to host over 300 exhibiting companies as well as over 6,000 trade visitors from all over the country.

Whether you’re looking to study market feasibility, seek local partners and distributors, increase existing market shares in Myanmar, or simply maintain relationships with key clients while looking for new opportunities with foreign partners, you are sure to meet your objectives at MYANAUTO 2018.

To find out more, or to reserve a booth at MYANAUTO 2018, Contact Ms Saw at saw@ambtarsus.com / +959778080285 or Mr Darren at darren@ambtarsus.com / +60162454791 for more information.
 
     
     
   
     
   
     
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