Cabinet okays policy to develop local automobile industry

The Cabinet today approved the draft of a policy to develop automobile industry in the country, considering the growing demand.

 

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

 

"We need to develop the automobile industry for our own interest, amid growing demand. We're thinking of development of the automobile industry to some extent, not remaining dependent only on import," said Cabinet Secretary Khandker Anwarul Islam during a post-meeting briefing at the Secretariat.

 

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

 

Khandker Anwarul said, another objective of the policy is to enhance scopes for cooperation and joint-investment between local automobile industries and international brands so that the products of famed brands can be produced here at lesser costs.

 

He quoted Japanese ambassador in Dhaka as saying that a renowned Japanese company has shown interest in making their products in Bangladesh.