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Industries Minister Nurul Majid Mahmud Humayun said the ministry was working to produce Bangladesh’s own brand of motor vehicles. He said Pragati Industries Limited, a state-owned company, would produce motor vehicles with technical assistance from the Mitsubishi Corporation of Japan. The Automotive Industry Development Policy, 2020 will be finalized soon, with the opportunity to provide technical assistance to Japan in the automotive sector.
The Minister of Industries made the remarks after a meeting with the Japanese Ambassador to Bangladesh, Naoki Ito, at the Ministry of Industries on Monday. The meeting was attended by the Additional Secretary of the Ministry of Industries Begum Parag and other officials from the Embassy of Japan.
The meeting discussed Japanese investment in the industrial sector of Bangladesh. At the same time, Japan’s technical assistance for the manufacture of its own brand of motor vehicles in Bangladesh, the formulation of the National Industrial Policy 2021 and the creation of an industrial database, the modernization of the motorcycle industry, the development of the supplier industry related to the automobile and light engineering industries in Bangladesh, the establishment of the automobile testing industry for motorcycle certification. Other topics of mutual interest were discussed, including cooperation.
Nurul Majid Mahmud Humayun said that Japanese entrepreneurs are making an important contribution to the socio-economic development and industrialization of Bangladesh. Japan has long provided technical assistance to BCIC fertilizer plants under the Ministry of Industry. Japan is also actively involved in the construction of the Ghorashal-Palash urea fertilizer factory.
The Minister of Industries called the attention of the Japanese ambassador to invest in the modernization of state sugar mills, the establishment of agriculture-based industries, the processing of agricultural products and food, the development of light engineering industries and the development of suppliers for small and medium industries.
Naoki Ito said Prime Minister Sheikh Hasina’s forward-thinking initiatives to tackle the Crown epidemic have created a positive investment climate in Bangladesh. Other auto industry entrepreneurs, including Japan’s Mitsubishi Corporation, want to increase investment in Bangladesh.
