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Bright prospects for auto parts, accessories and motor industry
The number of vehicles running in Myanmar has surged significantly since the government liberalized auto imports in 2012. Now, automakers estimate that there will be over two million cars hitting the roads in Myanmar in 2020, more than double the corresponding number of 721,324 units in 2016 and translating into 15 units per 1000 people. The automotive market is expected to embrace a bright future under government policy support.
To help auto and transportation businesses in Myanmar secure sustainable development and attract more foreign direct investments, the Ministry of Industry has launched several new policies. Among them is the policy of promoting the use of left-hand drive vehicles and controlling imports of right-hand drive vehicles. The policy is expected to drive the growth of domestic auto production and auto-based businesses as well as related supply chain covering machinery and parts manufacturing, raw materials supply, after-sales services, parts distribution and insurance and financial services. Also, stoked by tax reduction, the market for locally-made SKD (semi knocked-down) cars will grow rapidly and the prices for new cars imported under the CBU system will decline. This way, cars will become more affordable for consumers, which in turn stimulates car purchases.
Best industrial communication platform to reach diverse automotive leaders
Certainly, AMPA Myanmar will be the best gateway for you to tap the booming auto market in the country. Over the past 7 years, the show has grown along with the rapid development of the auto market in Myanmar. Moreover, AMPA Myanmar has well extended the brand prestige of the highly-reputed Taipei AMPA while also gaining strong support from the government sector and authoritative associations. The show is no longer a one-dimensional sourcing platform, but rather a grand assembly of diverse automotive leaders