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The Financial Express

Bangladesh approves policy to boost local production of automobiles

| Updated: June 15, 2021 08:41:21


Bangladesh approves policy to boost local production of automobiles

The cabinet has approved a policy with an aim to enhance scopes for cooperation and joint-investment between local automobile industries and international automobile brands so that the products of famous brands and models can be produced in the country at lesser costs.

The Automobile Industry Development Policy, 2021 was okayed at the weekly cabinet meeting held at the Cabinet Room of the Jatiya Sangsad on Monday with Prime Minister Sheikh Hasina in the chair, reports UNB.

“We need to develop the automobile industry in our own interest amid growing demand…. We’re thinking of the development of the automobile industry to some extent, not remaining dependent only on import,” said Cabinet Secretary Khandker Anwarul Islam during a media briefing after the cabinet meeting.

He said there is a potential for the development of the automobile industry in the country.

The main objective of the policy is to develop the local industry by ensuring competence in automobile engineering and necessary facilities for the production of automobiles and parts, he said.

The cabinet secretary quoted the Japanese ambassador in Dhaka as saying that a famous Japanese company has shown interest to make their brands in Bangladesh.

Besides, the cabinet gave the final approval to the draft of the Delimitation of Constituencies Bill, 2021 seeking to formulate an act to replace a military regime-era ordinance in line with the court’s judgment.

“The proposed law has been designed aiming to make an act instead of the existing Delimitation of Constituencies Ordinance 1976,” said the cabinet secretary.

No major change was brought to the draft law, he said.

The cabinet also cleared a proposal for accepting the membership of OIC’s Women Development Organisation (WDO) as well as ratification and signing of the WDO Statute to this end.

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