<article>Japan&#8217;s<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Nissan"> Nissan Motor Co</a> said on Wednesday it would start assembling cars in Myanmar this year for the first time, becoming the latest automaker to begin production in the Southeast Asian country as it opens up to foreign investment.</article>

Japan&#8217;s<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Nissan"> Nissan Motor Co</a> said on Wednesday it would start assembling cars in Myanmar this year for the first time, becoming the latest automaker to begin production in the Southeast Asian country as it opens up to foreign investment.
Japan&#8217;s second-biggest automaker said it would initially use an existing facility of partner Tan Chong Motor Group to assemble the Sunny compact sedan in Myanmar&#8217;s small but growing auto market.
It will then transfer production to a new plant, in the Bago region, which will employ about 300 people and have an annual output capacity of 10,000 cars at full production.
Nissan anticipates that it will sell more than 1,000 units annually in two or three years.
Nissan is the second Japanese automaker to set up production facilities in Myanmar after Suzuki Motor Corp began producing its Ertiga multi-purpose vehicle there last year.
&#8220;Demand in Myanmar is expected to grow rapidly following economic and political reforms in the country,&#8221; Nissan said in a statement.
Nissan has been selling imported vehicles in Myanmar since 2013 and estimates current vehicle sales there to be around 104,000 units annually, roughly 3 percent of which are new. By 2020, it expects the market to grow to more than 150,000 units sold each year, of which around 10 percent will be new vehicles.
Myanmar&#8217;s private sector has been thriving after the military ceded power to a semi-civilian government in 2011, triggering a broad liberalisation of its fledgling economy that has attracted foreign investors seeking growth in a country of more than 50 million.
Myanmar&#8217;s agriculture, mining and energy resources are largely untapped, while sectors such as banking, tourism, textiles and construction are booming. Foreign direct investment stood at $8 billion in fiscal 2014/15, more than five times the flows recorded just two years earlier.
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Reuters
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Nissan says to start assembling cars in Myanmar this year

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