[ad_1]
Industries Minister Nurul Majid Mahmud Humayun has said that Bangladesh will build its own brand of cars from next year. Photo: collected
“>
Industries Minister Nurul Majid Mahmud Humayun has said that Bangladesh will build its own brand of cars from next year. Photo: collected
Industries Minister Nurul Majid Mahmud Humayun said that Bangladesh will make its own brand of cars from next year. Cars “Made in Bangladesh” will be introduced under the Automotive Industry Development Policy. He also said that the price of private label cars will be lower than the price of imported cars.
In an exclusive interview with UNB, the minister said: “The Automotive Industry Development Policy-2020 will be finalized 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.
The Minister of Industries further said: “Recently, he had a meeting with the Japanese Ambassador to Bangladesh, Naoki Ito. During the meeting, the ambassador said that other Japanese auto entrepreneurs, including Mitsubishi Corporation, are interested in increasing investment in Bangladesh.
The Minister of Industries said: “Japanese Ambassador Naoki Ito said that Japan will provide technical assistance for the production of Bangladesh’s own car brand. He also offered to help develop the supplier industry in the automotive and light engineering industry in Bangladesh and to 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 automotive, the Minister of Industries said: “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: ‘Foreign cars are more expensive in Bangladesh 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.
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 satisfying domestic demand.’
[ad_2]
