Government is considering policy revision to attract car manufacturers in Bangladesh
Obaid
Fri, 01 Mar 2019
Government is considering policy revision to attract car manufacturers in Bangladesh
Obaid
Fri, 01 Mar 2019
Government is considering policy revision to attract car manufacturers in Bangladesh
Obaid
Fri, 01 Mar 2019
Goverment is drafting plans to attract car manufacturers
While opening the second Indo-Bangla Automotive Show (IBAS) on Friday at International Convention City Bashundhara, Commerce Minister Tipu Munshi said “We are working with the Bangladesh Investment Development Authority. They have drafted something; we’ll see that in the next 15 days”. He also said that a draft policy will be ready in six months. Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam was also present at the event.
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”.
The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
Car manufacturing operation in a plant in India
Society of Indian Automobile Manufacturers (SIAM) is the organizer of the four day event. It features participation from many Indian Automobile manufacturers like Ashok Leyland, Bajaj Auto, Eicher Motors, Force Motors, Hero MotoCorp, India Yamaha Motor (ACI Motors), Mahindra & Mahindra, Maruti Suzuki India, SML Isuzu, Tata Motors, TVS Motor Company, VE Commercial Vehicles along with their Bangladeshi partners. Many component manufacturers and few tyre manufacturers are also participating in the show. It showcases the latest products manufactured by the members of SIAM and ACMA, the company said in a statement. An Indian delegation, including senior industry leaders, will meet the government officials of Bangladesh as part of the four-day event.
Presently there are a number of India-Bangladesh joint ventures in operation in Bangladesh. Uttara Motors is teaming up with Bajaj Auto to set up bike production plant in Bangladesh. Nitol-Niloy Group and Tata Motors has an assembly plant in Jessore. Ifad Auto and Ashok Leyland have assembly plant at Dhamrai. Hero MotoCorp is setting up a plant in Jessore.
India has become the fourth largest motor vehicle producer in the world with total production of over 5 million motor vehicles in 2018 based on Organisation Internationale des Constructeurs d'Automobiles (OICA). As per SIAM, India produced a total 29,075,605 (29 million) vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-March 2018 as against 25,330,967 in April-March 2017, registering a growth of 14.78 percent over the same period last year.
Car manufacturing operation in a plant in India
India's automobile industry is likely to contribute 12 per cent to the country's GDP over the coming decade, from 7.1 per cent at present, Union Minister Anant Geete predicts. India exported more than 4 million vehicles in 2017-18. Bangladesh is the fifth largest automotive export market of India and with its growing GDP, disposable income and road infrastructure, has the potential to become a even bigger market.
Mobility helps to a country to develop and a developing country needs even more mobility to cope. Thus, automotive industry is becoming more and more important for Bangladesh. BIDA Chairman Islam said, “We have seen a lot of investments in two-wheelers due to our friendly policy. If we can make good policy, three-wheelers and four-wheelers industry will also develop”. To bring the car manufacturers come and set up plants, Bangladesh needs to first develop the supporting parts and the service industry or else it will be difficult to import all.”
Islam considers that high taxation on car imports was a sensible policy but also thinks we need to make it affordable. He also said, “We have to make it affordable. In the last ECNEC meeting, we have planned to expand all roads to four lanes. There is scope to increase roads infrastructure and manufacturing as well. We have to make the right policy.”
Government is considering policy revision to attract car manufacturers in Bangladesh
Government is considering policy revision to attract car manufacturers in Bangladesh
Obaid
Fri, 01 Mar 2019
Goverment is drafting plans to attract car manufacturers
While opening the second Indo-Bangla Automotive Show (IBAS) on Friday at International Convention City Bashundhara, Commerce Minister Tipu Munshi said “We are working with the Bangladesh Investment Development Authority. They have drafted something; we’ll see that in the next 15 days”. He also said that a draft policy will be ready in six months. Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam was also present at the event.
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”. The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”. The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”.
The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
Society of Indian Automobile Manufacturers (SIAM) is the organizer of the four day event. It features participation from many Indian Automobile manufacturers like Ashok Leyland, Bajaj Auto, Eicher Motors, Force Motors, Hero MotoCorp, India Yamaha Motor (ACI Motors), Mahindra & Mahindra, Maruti Suzuki India, SML Isuzu, Tata Motors, TVS Motor Company, VE Commercial Vehicles along with their Bangladeshi partners. Many component manufacturers and few tyre manufacturers are also participating in the show. It showcases the latest products manufactured by the members of SIAM and ACMA, the company said in a statement. An Indian delegation, including senior industry leaders, will meet the government officials of Bangladesh as part of the four-day event.
Society of Indian Automobile Manufacturers (SIAM) is the organizer of the four day event. It features participation from many Indian Automobile manufacturers like Ashok Leyland, Bajaj Auto, Eicher Motors, Force Motors, Hero MotoCorp, India Yamaha Motor (ACI Motors), Mahindra & Mahindra, Maruti Suzuki India, SML Isuzu, Tata Motors, TVS Motor Company, VE Commercial Vehicles along with their Bangladeshi partners. Many component manufacturers and few tyre manufacturers are also participating in the show. It showcases the latest products manufactured by the members of SIAM and ACMA, the company said in a statement. An Indian delegation, including senior industry leaders, will meet the government officials of Bangladesh as part of the four-day event.
Car manufacturing operation in a plant in India
Presently there are a number of India-Bangladesh joint ventures in operation in Bangladesh. Uttara Motors is teaming up with Bajaj Auto to set up bike production plant in Bangladesh. Nitol-Niloy Group and Tata Motors has an assembly plant in Jessore. Ifad Auto and Ashok Leyland have assembly plant at Dhamrai. Hero MotoCorp is setting up a plant in Jessore.
India has become the fourth largest motor vehicle producer in the world with total production of over 5 million motor vehicles in 2018 based on Organisation Internationale des Constructeurs d'Automobiles (OICA). As per SIAM, India produced a total 29,075,605 (29 million) vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-March 2018 as against 25,330,967 in April-March 2017, registering a growth of 14.78 percent over the same period last year.
India's automobile industry is likely to contribute 12 per cent to the country's GDP over the coming decade, from 7.1 per cent at present, Union Minister Anant Geete predicts. India exported more than 4 million vehicles in 2017-18. Bangladesh is the fifth largest automotive export market of India and with its growing GDP, disposable income and road infrastructure, has the potential to become a even bigger market.
India's automobile industry is likely to contribute 12 per cent to the country's GDP over the coming decade, from 7.1 per cent at present, Union Minister Anant Geete predicts. India exported more than 4 million vehicles in 2017-18. Bangladesh is the fifth largest automotive export market of India and with its growing GDP, disposable income and road infrastructure, has the potential to become a even bigger market.
Mobility helps to a country to develop and a developing country needs even more mobility to cope. Thus, automotive industry is becoming more and more important for Bangladesh. BIDA Chairman Islam said, “We have seen a lot of investments in two-wheelers due to our friendly policy. If we can make good policy, three-wheelers and four-wheelers industry will also develop”. To bring the car manufacturers come and set up plants, Bangladesh needs to first develop the supporting parts and the service industry or else it will be difficult to import all.”
Islam considers that high taxation on car imports was a sensible policy but also thinks we need to make it affordable. He also said, “We have to make it affordable. In the last ECNEC meeting, we have planned to expand all roads to four lanes. There is scope to increase roads infrastructure and manufacturing as well. We have to make the right policy.”
Islam considers that high taxation on car imports was a sensible policy but also thinks we need to make it affordable. He also said, “We have to make it affordable. In the last ECNEC meeting, we have planned to expand all roads to four lanes. There is scope to increase roads infrastructure and manufacturing as well. We have to make the right policy.”
Car manufacturing operation in a plant in India
Goverment is drafting plans to attract car manufacturers
While opening the second Indo-Bangla Automotive Show (IBAS) on Friday at International Convention City Bashundhara, Commerce Minister Tipu Munshi said “We are working with the Bangladesh Investment Development Authority. They have drafted something; we’ll see that in the next 15 days”. He also said that a draft policy will be ready in six months. Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam was also present at the event.
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”. The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”. The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
The commerce minister especially talked about joint ventures which will enable Bangladesh to export to the countries where it enjoys duty-free market access after supplying to own local market. He said, “I think we can have incentives on that too. It’s a good idea for manufacturers to come here and start manufacture here. I am optimistic because the government is very much business friendly”.
The Commerce Minister also said, “The prime minister has instructed me to do whatever possible to increase foreign investments in Bangladesh. If we can manufacture parts in our country, then it will really help us make that kind of vehicles in Bangladesh.”
Society of Indian Automobile Manufacturers (SIAM) is the organizer of the four day event. It features participation from many Indian Automobile manufacturers like Ashok Leyland, Bajaj Auto, Eicher Motors, Force Motors, Hero MotoCorp, India Yamaha Motor (ACI Motors), Mahindra & Mahindra, Maruti Suzuki India, SML Isuzu, Tata Motors, TVS Motor Company, VE Commercial Vehicles along with their Bangladeshi partners. Many component manufacturers and few tyre manufacturers are also participating in the show. It showcases the latest products manufactured by the members of SIAM and ACMA, the company said in a statement. An Indian delegation, including senior industry leaders, will meet the government officials of Bangladesh as part of the four-day event.
Society of Indian Automobile Manufacturers (SIAM) is the organizer of the four day event. It features participation from many Indian Automobile manufacturers like Ashok Leyland, Bajaj Auto, Eicher Motors, Force Motors, Hero MotoCorp, India Yamaha Motor (ACI Motors), Mahindra & Mahindra, Maruti Suzuki India, SML Isuzu, Tata Motors, TVS Motor Company, VE Commercial Vehicles along with their Bangladeshi partners. Many component manufacturers and few tyre manufacturers are also participating in the show. It showcases the latest products manufactured by the members of SIAM and ACMA, the company said in a statement. An Indian delegation, including senior industry leaders, will meet the government officials of Bangladesh as part of the four-day event.
Car manufacturing operation in a plant in India
Presently there are a number of India-Bangladesh joint ventures in operation in Bangladesh. Uttara Motors is teaming up with Bajaj Auto to set up bike production plant in Bangladesh. Nitol-Niloy Group and Tata Motors has an assembly plant in Jessore. Ifad Auto and Ashok Leyland have assembly plant at Dhamrai. Hero MotoCorp is setting up a plant in Jessore.
India has become the fourth largest motor vehicle producer in the world with total production of over 5 million motor vehicles in 2018 based on Organisation Internationale des Constructeurs d'Automobiles (OICA). As per SIAM, India produced a total 29,075,605 (29 million) vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-March 2018 as against 25,330,967 in April-March 2017, registering a growth of 14.78 percent over the same period last year.
India's automobile industry is likely to contribute 12 per cent to the country's GDP over the coming decade, from 7.1 per cent at present, Union Minister Anant Geete predicts. India exported more than 4 million vehicles in 2017-18. Bangladesh is the fifth largest automotive export market of India and with its growing GDP, disposable income and road infrastructure, has the potential to become a even bigger market.
India's automobile industry is likely to contribute 12 per cent to the country's GDP over the coming decade, from 7.1 per cent at present, Union Minister Anant Geete predicts. India exported more than 4 million vehicles in 2017-18. Bangladesh is the fifth largest automotive export market of India and with its growing GDP, disposable income and road infrastructure, has the potential to become a even bigger market.
Mobility helps to a country to develop and a developing country needs even more mobility to cope. Thus, automotive industry is becoming more and more important for Bangladesh. BIDA Chairman Islam said, “We have seen a lot of investments in two-wheelers due to our friendly policy. If we can make good policy, three-wheelers and four-wheelers industry will also develop”. To bring the car manufacturers come and set up plants, Bangladesh needs to first develop the supporting parts and the service industry or else it will be difficult to import all.”
Islam considers that high taxation on car imports was a sensible policy but also thinks we need to make it affordable. He also said, “We have to make it affordable. In the last ECNEC meeting, we have planned to expand all roads to four lanes. There is scope to increase roads infrastructure and manufacturing as well. We have to make the right policy.”
Islam considers that high taxation on car imports was a sensible policy but also thinks we need to make it affordable. He also said, “We have to make it affordable. In the last ECNEC meeting, we have planned to expand all roads to four lanes. There is scope to increase roads infrastructure and manufacturing as well. We have to make the right policy.”
Car manufacturing operation in a plant in India