Mitsui & Co will start an automobile service workshop business in Myanmar in collaboration with SCG Trading Co a subsidiary of Siam Cement Group, one of the leading industrial groups in Thailand.
Mitsui and SCGT established the investment company SCGT Automobile Co (SCA) in Bangkok and SCA established a joint venture company Mingalar Motor Co in Yangon with Oriental Apex Car Sales & Services.
The new service shop will start operations in September, according to Mitsui.
There are about 400,000 registered vehicles in Myanmar. As its vehicle market consists mainly of used vehicles, the demand for high quality after service has been increasing. Also, with the population nearing 60 million, liberalisation and rapid growth in the new car sales market is expected in the near future.
Mitsui began conducting business ahead of other companies in Myanmar. It had the most investment projects in the country among Japanese companies in the 1990s.
The company, which resumed exportation of rice from Myanmar two years ago, said it will keep contributing to the country’s development through valuable business, including this new automotive project.