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Industry Minister Nurul Majid Mahmud Humayun has said that Bangladesh will make its own brand of cars from next year.
He said that “Made in Bangladesh” cars will be introduced under the development policy of the automobile industry. The minister also said that the price of a car of his own brand will be less than the price of an imported car.
The minister said that the Automotive Industry Development Policy-2020 will be finalized very soon. We will start manufacturing cars in Bangladesh from next year.
He said that the state-owned Pragati Industries Limited would start making cars with technical assistance from the Mitsubishi Corporation of Japan.
Regarding the various benefits of domestic car production, he said that the price of foreign cars in Bangladesh is higher due to import duties. But if the car is manufactured in the country, its price will drop. People will be able to buy cars at affordable prices. If the country produces its own brand of cars, there will be no shortage of buyers.
The minister said: “I had a meeting with the Japanese ambassador to Bangladesh, Naoki Ito, recently. During the meeting, the ambassador said that Mitsubishi Corporation and other Japanese auto entrepreneurs are interested in increasing investment in Bangladesh.
The Minister of Industries said Japanese Ambassador Naoki Ito said that Japan would provide technical assistance for the production of Bangladesh’s own car brand. He also proposed to help develop the supplier industry related to the automobile and light engineering industries in Bangladesh and establish an automobile research and testing institute in Bangladesh.
Noting that the Ministry of Industries has already formulated a plan for the development of other industries, including the auto industry, Nurul Majid said that the action plan would make a significant contribution to attracting foreign direct investment (FDI).
Describing the country’s youth as an ‘innovative workforce’, the Minister of Industries said that if the industry develops by employing youth, domestic demand will be met and opportunities will be created to export cars and motorcycles to the world market.
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