Mitsubishi to set up automobile plant in Bangladesh

Mitsubishi Motors Corporation (MMC), a renowned automotive manufacturer of Japan, has taken steps to conduct a feasibility study to establish an automobile assembly plant in Bangladesh.

Shahidul Haque Bhuia, chairman of state-owned Bangladesh Steel and Engineering Corporation (BSEC), and Kurahashi Masatsugu, division general manager, department of Europe and the Middle East/Africa/South Asia at MMC, signed a memorandum of understanding in this regard today. 

The MoU is signed to set out the principal and assumption based on which BSEC and MMC will conduct a study and negotiate about the opportunity of setting up a joint venture company for manufacturing of Mitsubishi brand vehicles by 2025.
Bangladesh is the big market for selling Japanese cars, which has encouraged Mitsubishi to build a car factory in Bangladesh.

Industries Minister Nurul Majid Mahmud Humayun said the government is working for industrialisation and development of the industry to reach the highest level of development of the country, providing all sorts of support to foreign investors for industrialisation in the country.

Bhuia said they will be able to make Bangladeshi branded cars in the near future with the help of MMC.

"The feasibility study is the beginning of our new journey. The feasibility study will be completed in December," he said.