US car manufacturer Ford has become the recent foreign firm to announce plans to enter Burma market, after investment sanctions against the country were suspended.
Ford has signed a deal with the Burmese company Capital Diamond Star Group to launch a showroom in Yangon.
Different countries suspended their agreement against Burma in 2012 because of the democratic reforms.
Ford announced it would offer a variety of cars and trucks across different vehicle segments in Burma, which is also known as Myanmar.
The company also announced its other plans to expand its presence in other countries once the business begins to grow.
Regional manager of Asia Pacific, Ford Export & Growth Operations, David Westerman, said “Part of Ford’s core values as a company is to invest in the places where we do business – to invest in people, in their careers and in the local communities.”
Read the rest of the news here to know more about Ford’s plans.