Industries Minister Nurul Majid Mahmud Humayun today said the ministry is working towards facilitating the production of locally created motor vehicles.
"Pragoti Industries Limited, a state-owned company, will manufacture the automobiles with technical the help of Mitsubishi Corporation of Japan. To the end, the auto Industry Development Policy 2020 will be finalised soon. In the light of the policy, the opportunity to provide technical assistance to Japan in the automobile industry will most probably," he said.
The minister made the remarks during a ending up in Japanese Ambassador to Bangladesh Ito Naoki at the Industries Ministry conference room in the town, said a news release.
Additional Secretary of the Industries Ministry Begum Parag, officials of the ministry and the Embassy of Japan were present on the occasion.
Through the meeting, they discussed various bilateral issues, including Japanese investment in Bangladesh's professional sector.
Referring to Bangladesh's historically friendly relations with Japan, Humayun said Japanese entrepreneurs are making significant contribution to Bangladesh's socio-economic development and industrialisation.
Ito Naoki said the far-sighted steps taken by Prime Minister Sheikh Hasina to tackle the coronavirous situation have created a positive investment climate in Bangladesh.
"Other automobile industry entrepreneurs, including Japan's Mitsubishi Corporation, are keen to improve investment in Bangladesh," he added.
He mentioned that Japan provides technical assistance for the production of Bangladesh's own make of automobiles.
He opined that in order to develop the motorcycle industry in Bangladesh, it is necessary to fix a reasonable amount for motorcycle registration fee.
He said the proposal of the industry ministry to modernise state-owned sugar mills and diversify products in the sugar industry would be seriously considered.