NNA Asia top stories Tuesday, Oct. 30
TOKYO, NNA – The following are the top stories from NNA Asia for Tuesday, Oct. 30.
Myanmar to continue tight rules on second-hand vehicle imports next year
YANGON, NNA - The Myanmar government will maintain its tight grip on imports of second-hand vehicles in 2019 in a campaign to drive out right-hand-drive cars and older models and boost local automobile production.
The total ban on imports of right-hand-drive passenger cars and commercial vehicles adopted this year will remain in place.
Industry officials believe most of the remaining second-hand car dealers in the country will disappear next year as the government continues to crack down on illegal trading in right-hand-drive vehicles, stripping dealership licenses.
Leasing firm Tokyo Century building solar power facility in Philippines
MANILA, NNA – Japanese leasing firm Tokyo Century Corp. is gearing up solar power generation in the Philippines, backed by Tokyo’s credit financing scheme to reduce greenhouse gas emissions.
The company is the first financial institution to initiate such projects by utilizing the joint crediting mechanism, a bilateral agreement to share reduction targets between Japan and the Southeast Asian country.
Nippon Shokubai to ramp up acrylic acid capacity by 71% in Indonesia
JAKARTA, NNA – Japanese chemical maker Nippon Shokubai Co. will ramp up acrylic acid production capacity by 71 percent to 240,000 tons annually in Indonesia to meet its growing demand in Asia.