Bangladesh to produce own brand motor vehicles: Humayun...

Dhaka, Tuesday   27 October 2020

Bangladesh to produce own brand motor vehicles: Humayun

 Staff Correspondent daily-bangladesh.com

 Published: 05:44 PM, 31 August 2020   Updated: 06:07 PM, 31 August 2020

Bangladesh to produce own brand motor vehicles: Humayun

Bangladesh to produce own brand motor vehicles: Humayun

Industries Minister Nurul Majid Mahmud Humayun today said the ministry is working to produce Bangladesh’s own brand motor vehicles.

“Pragoti Industries Limited, a state-owned company, will manufacture the automobiles with technical assistance from Mitsubishi Corporation of Japan. To this end, the Automobile Industry Development Policy 2020 will be finalized very soon. In light of this policy, the opportunity to provide technical assistance to Japan in the automobile industry will be open,” he said.

The minister made the remarks during a meeting with the Japanese Ambassador to Bangladesh Ito Naoki at the Industries Ministry conference room in the city.

Additional Secretary of the Industries Ministry Begum Parag and officials of the Industries Ministry and the Embassy of Japan were present on the occasion.

During the meeting, they discussed various bilateral issues, including Japanese investment in Bangladesh’s industrial sector.

Referring to Bangladesh’s historically friendly relations with Japan, Humayun said Japanese entrepreneurs are making a significant contribution to Bangladesh’s socio-economic development and industrialization.

Ito Naoki said the far-sighted steps taken by Prime Minister Sheikh Hasina to tackle the coronavirus situation have created a positive investment climate in Bangladesh.

“Other automobile industry entrepreneurs, including Japan’s Mitsubishi Corporation, are keen to increase investment in Bangladesh,” he added.

He mentioned that Japan will provide technical assistance for the production of Bangladesh’s own brand of automobiles.

He opined that in order to develop the motorcycle industry in Bangladesh, it is necessary to fix a reasonable amount of motorcycle registration fee.

He said the proposal of the industry ministry to modernize state-owned sugar mills and diversify products in the sugar industry would be seriously considered.

The Minister also called on the Japanese Ambassador to invest in the 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.

He also mentioned that Japan would provide technical assistance for the production of Bangladesh's own brand of automobiles.

The Japanese Ambassador 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 the modernization of state-owned sugar mills and diversification of products in the sugar industry would be seriously considered.

Mentioning that the Japan Economic Zone at Araihazar in Narayanganj district is one of the tops in Asia in terms of quality, the Ambassador said that 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.

He emphasized on tax incentives and adequate land allocation to increase Japanise investment. He also hoped that the Ministry of Industry's timely action plan for other sectors, including the automobile industry, would make a significant contribution to attracting foreign investment.

DailyBangladesh/SA