Pragoti to Manufacture its Own Brand Automobiles by Mitsubishi's Technical Assistance


Pragati 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. In the light of this policy, the opportunity to provide technical assistance to Japan in the automobile industry will be opened, said Industries Minister Nurul Majid Mahmud Humayun. He also mentioned, “the ministry was working to produce Bangladesh's own brand of motor vehicles. “


The Industries Minister made the remarks during a meeting with the Japanese Ambassador on Monday. The meeting was held at the Ministry of Industry. Officials from the Ministry of Industry and the Embassy of Japan were present.


The meeting discussed Japanese investment in Bangladesh's industrial sector, the industry ministry said in a statement. At this time, Japan provided technical assistance for the production of its own brand of motor vehicles, formulation of National Industrial Policy 2021 and creation of an industrial database, modernization of the motorcycle industry, development of the automobile and light engineering-related industries or vendor industries in Bangladesh, the establishment of motorcycle certification and automotive. Other issues of mutual interest, including technical cooperation, were discussed.


The Industries Minister said Japan has been providing technical assistance to BCIC fertilizer factories for a long time. Japan is also actively involved in the construction of Ghorashal-Polash Urea Fertilizer Factory. He called on the Japanese ambassador to come forward to invest in the modernization of state-owned sugar mills, setting up of agro-based industries, processing of agricultural products and food, development of light engineering industries, and vendor development for small and medium industries.


The Japanese ambassador said other automobile industry entrepreneurs, including Mitsubishi Corporation of Japan, are keen to increase investment in Bangladesh. He mentioned that Japan will provide technical assistance in the production of Bangladesh's own brand automobiles. He opined that a reasonable amount of motorcycle registration fees should be fixed for the development of the motorcycle industry in Bangladesh.


The ambassador emphasized increasing tax incentives, adequate land allocation, and other opportunities to increase Japanese investment. He said the industry ministry's timely action plan for other industries, including the automobile industry, would make a significant contribution to attracting foreign investment.








Category and Tags
More stories by
Elon Musk should focus on Aviation safety systems to prevent airplane crashes

Why Elon Musk Should Focus on Aviation Safety SystemsElon Musk, the tech visionary behind Tesla, SpaceX, and Neuralink, has made a career of tackling humanity’s most complex challenges. From transitioning the world to sustainable energy to making l

Bangladesh and Japan are signing their first free trade deal

Bangladesh and Japan have been strengthening their economic ties, culminating in the initiation of negotiations for a bilateral Economic Partnership Agreement (EPA) in 2024. This agreement, marking Bangladesh's first free trade agreement with Japan,

Pakistan is interested in buying medicine from Bangladesh

Syed Ahmed Maruf, the High Commissioner of the country appointed in Dhaka, said that Pakistan is interested in importing medicines from Bangladesh. The High Commissioner said that Bangladesh is in a very good position in the pharmaceutical industry.

Dr. Muhammad Yunus Among Top 10 Personalities of the Year by Nature

Chief advisor. Muhammad Yunus Photo: Nature.comIn a remarkable achievement that highlights the intersection of science, social innovation, and global impact, Dr. Muhammad Yunus, the Bangladeshi Nobel Peace Prize laur...

Intel Resuming Free Coffee and Tea After 15,000 Employee Layoffs

After cutting several employee benefits in an effort to save money, Intel has announced that it will once again provide free coffee and tea to its staff. Intel made the decision to fire 15,000 employees in August of this year. Intel reduced a nu

Follow Business Habit on Facebook, Twitter