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Industries Minister Nurul Majid Mahmud Humayun has said that Dhaka will launch its first ‘Made in Bangladesh’ car next year. In a media interview, the minister said: “The Automotive Industry Development Policy-2020 will be finalized very soon. We will start manufacturing cars in Bangladesh from next year.
The minister said that the state-owned Pragati Industries Limited would start manufacturing cars with technical assistance from the Mitsubishi Corporation of Japan.
He also said that he had a meeting with Naoki Ito, the recently appointed Japanese ambassador to Bangladesh. During the meeting, the ambassador said that other Japanese auto entrepreneurs, including Mitsubishi Corporation, were “interested in increasing investment in Bangladesh.”
He (Naoki Ito) said that Japan will 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 to establish an automobile research and testing institute in Bangladesh, ”said the Minister of Industries.
Noting that the Ministry of Industry has already formulated a plan for the development of other industries, including automotive, he added: “This action plan will make a significant contribution to attracting foreign direct investment (FDI).”
Regarding the various benefits of domestic car production, the minister said that the price of foreign cars in Bangladesh is higher due to import duties.
“But if the cars are manufactured in the country, their price will go down. 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, ”he said.
Describing the country’s youth as an ‘innovative workforce’, the Minister of Industries said: “If this industry is developed by employing young people, it will also create opportunities to export cars and motorcycles to the world market by meeting domestic demand.” ONE B
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