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Mitsubishi to assist Bangladesh in producing its own motor vehicle brand

  • Published at 05:11 pm August 31st, 2020
Mitsubishi to assist Bangladesh in producing its own motor vehicle brand
Japanese Ambassador to Bangladesh Ito Naoki calls on Industries Minister Nurul Majid Mahmud Humayun at the Industries Ministry conference room in the capital on Monday, August 31, 2020 PID

To this end, the government is going to finalize the Automobile Industry Development Policy 2020

Industries Minister Nurul Majid Mahmud Humayun on Monday said the ministry was working on producing Bangladesh’s own brand of 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,” he said.

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

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

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

Referring to Bangladesh’s historically friendly relations with Japan, Minister Humayun said Japanese entrepreneurs are making significant contributions to Bangladesh’s socioeconomic development and industrialization.

Japanese ambassador Ito Naoki said Honda is producing motorbikes and Mitsubishi will produce automobiles in Bangladesh, and these companies will be expanding their business activities.

“Other automobile industry entrepreneurs, including Japan’s Mitsubishi Corporation, are keen to increase investment in Bangladesh. I hope the Japanese economic zone in Narayanganj's Araihazar will be the number one economic zone in Asia,” he added.

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

He said that in order to develop the motorcycle industry in Bangladesh, it is necessary to settle upon reasonable motorcycle registration fees .

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

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