YANGON, Feb. 6 (Xinhua) -- Suzuki Motor Corp will resume its vehicles and spare parts manufacturing in Myanmar's Yangon after 11 years' absence, local media reported Wednesday.
Suzuki's resumption of the undertakings have been approved by Myanmar Investment Commission, said the Weekly Eleven in its website.
Its former plant is situated in the Industrial Zone in South Dagon while the new plant will be located in Thilawa Special Economic Zone.
Suzuki was expected to invest several billion yens in an assembly plant, which is tentatively targeted for completion by 2015, the report added.
As Japan's 4th largest auto manufacturer, Suzuki first began its vehicle production in the Southeast Asian country in 1999, and halted production in 2010.
Statistics show that the number of various registered motor vehicles operating in Myanmar stood 3.6 million as of November in 2012, including 3.1 million motorcycles, 308,983 passenger cars, 69,953 trucks, 19,440 buses, according to the road transport administration.
Myanmar has recently claimed clearing of its debt of 502.457 billion yens (over 5 billion U.S. dollars) owed to Japan since 1970 after settlement of the remaining debt of 198.881 billion yens (nearly 2 billion U.S. dollars).
Those arrears of 303.576 billion yens (over 3 billion U.S. dollars) will be written off by the Japanese government within one year period.
As a follow-up, the Japanese government announced it would take steps to offer very-low-interest rate development loan and assistance to Myanmar which will use in people-centered development.