Japan’s Mitsubishi Motor Corporation (MMC) will study the setting up of a Mitsubishi brand car factory in Bangladesh. For this, MMC has signed a memorandum of understanding with Bangladesh Steel Industries Corporation (BSEC) under the Ministry of Industries.
BSEC Chairman Shahidul Haque Bhuiyan and MMC’s Europe, Middle East, Africa, and South Asia Division General Manager Kurahashi Masatsugu signed the memorandum. The memorandum of understanding was signed in the conference room of the industry ministry on Thursday.
Industries Minister Nurul Majid Mahmud, State Minister for Industries Kamal Ahmed Majumder, Japanese Ambassador to Dhaka Ito Naoki, and Bangladesh Ambassador to Japan Sahabuddin Ahmed took part in the signing ceremony presided over by Industries Secretary Zakia Sultana. The matter has been informed in the press release of the Ministry of Industry.
According to the memorandum, MMC will explore the possibility of setting up a company in a joint venture with BSEC to manufacture and integrate Mitsubishi brand vehicles in Bangladesh by 2025.
The Industries Minister urged domestic and foreign investors to set up factories for manufacturing vehicles and parts in Bangladesh. He said all kinds of assistance are being provided to foreign investors for industrialization in the country. The Industries Minister hopes that the Bangla Car brand will be launched by 2025.
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Nurul Majid Mahmud said that the industry has been kept in a special system in compliance with the hygiene rules. He also remarked that there is no alternative to running a full-time industrial plant to become a developed country by 2041.
State Minister for Industries Kamal Ahmed Majumder said the automobile industry is a promising sector for Bangladesh. The demand for automobiles in the country is increasing due to the increase in purchasing power at the consumer level. The government will continue to work to increase foreign investment by setting up industries in a joint venture between Mitsubishi Motor Corporation and Ispat Corporation. BSEC Chairman Shahidul Haque Bhuiyan said, “In collaboration with MMC, we will be able to manufacture globally recognized Bangladeshi brand cars in the near future.”
