Sep 23, 2012

Sri Lnkan car dealers setting up car sales centre in Myanmar

Sri Lanka vehicle importers are setting up a company in Myanmar with a showroom dealing in the car business taking advantage of tax benefits and other facilities given to importers, vehicle importers said.

Keerthi Gunawardene, Secretary of the Vehicle Importers Association of Sri Lanka told the Business Times that preliminary arrangements to set up this company were finalised following the visit to Myanmar by a delegation led by association President Sampath Merenchige on 10-16 September. He said that the company registration costs US$100,000 while Sri Lankan Ambassador in Myanmar H.R. Piyasiri has assured them all assistance to launch the company. There are some 70 vehicle showrooms in Myanmar selling around 7,000 used cars per month, he said.

The delegates held fruitful meetings with key Myanmar government ministers. The association decided to explore Myanmar’s car market in Myanmar after depressed conditions in Sri Lanka’s car market. Mr. Gunawardene revealed that Toyota Mark II, Mitsubishi Pajero and Hilux Surf and more Japanese brands were flooding the Myanmar market.

Other cars popular there are Corolla Spacio, Corolla Fielder, Land Cruiser, Hiace Saloon, Crown Majesta, Nissan’s Sarena, Truck, condor, Mitsubishi’s Pajero, Chariot and Fuso. The association-led company is expected to pave the way for other Sri Lankan car dealers to also open showrooms there.

Source: The Sunday Times Sri Lanka