Bangladesh to produce its own brand of Vehicles

The state-owned company “Pragati Industries Limited” is going to produce the automobiles with technical assistance from “Mitsubishi Corporation” origin of Japan. This will be Bangladesh's own brand car.

Industries Minister “Nurul Majid Mahmud Humayun” made the cpmment on a meeting with Japanese Ambassador to Bangladesh “Ito Naoki” at the Industries Ministry on Monday (August 31st).

The Automobile Industry Development Policy-2020 will be finalized soon with the aim of producing its own brand of automobiles. According to this policy, opportunities for technical assistance from Japan in the automobile industry of Bangladesh will be opened.

On that following meeting, the whole matter has discussed about the Japanese investment in Bangladesh. During this time, Japan provided technical assistance for production of Bangladesh's own brand motor vehicles, following the formulation of National Industrial Policy-2021 and creation of industrial database, modernization of motorcycle industry, development of vendor industry related to automobile and light engineering industries in Bangladesh, establishment of automobile testing institute for motorcycle certification. Other issues of mutual interest including technical cooperation were also discussed on the same discussion.

By mentioning the historic friendship with Japan, Industry Minister “Nurul Majid Mahmud Humayun” remembers the cooperation that Japan Government did in the last few decade in almost all the sectors in Bangladesh. Japan has enhanced their hands on the fertilizer factories under BCIC. Japan has already active on the project of Ghorashal – Polash Urea fertilizer factory. He drew the attention of the Japanese Ambassador to invest to modernization of state-owned sugar mills, setting up of agro-based industries, processing of agricultural products and food, development of light engineering industries and development of vendors for small and medium industries and so on.

At the same time, Ambassador “Ito Naoki” remarks about Prime Minister Sheikh Hasina's for her far-sighted steps in tackling the coronavirus epidemic which have created a positive investment climate in Bangladesh. Others automobile industry entrepreneurs, including Japan's Mitsubishi Corporation, are keen to increase investment in Bangladesh.
He further said that, Japan is quite cordial to help the own brand of vehicle of Bangladesh. The Ambassador of Japan opined that in order to develop the motorcycle industry in Bangladesh, it is necessary to fix a reasonable amount of motorcycle registration fee. He also said that the proposal of the Ministry of Industry for modernization of state-owned sugar mills and diversification of products in the sugar industry would be seriously considered just on time.

Mentioning that the Japan Economic Zone at Araihazar in Narayanganj district is at the top in Asia considering the terms of quality, the Ambassador said bilateral dialogue needs to be intensified to increase Japanese investment in Bangladesh. Emerging sectors for investment will be identified through this dialogue. For this we have to work jointly and to the point.

“Ito Naoki” informed the Minister of Industry that Japan would extend necessary assistance in setting up an “Automobile Testing and Research Institute” for the certification of motorcycles.

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