The government plans to set up a car-making plant in the country to roll out low-cost vehicles, Industries Minister Dilip Barua said yesterday.
A car may cost Tk 6 lakh to Tk 7 lakh in Bangladesh if the plant goes into operation, he said at a press conference at his ministry on return from a D-8 meeting in Tehran, the capital of Iran.
Eight developing countries (D8) agreed to jointly produce a car under a common brand name.
Once the plant is set up, Bangladesh will not need to import reconditioned vehicles at higher prices, Barua said. But he did not say when a plant could be set up.
The first meeting of industry ministers from D8 member countries took place from February 28-March 2.
Barua also said his ministry has already signed an agreement with Japanese Mitsubishi Company to revive Progoti, a state-owned car assembling company.
The D-8 leaders discussed how to introduce cars to be branded as 'Made by D-8' through expanding business among the member states. Only the member countries will make the common-brand cars.
"The leaders of the D-8 countries will meet again in Istanbul to finalise the next course of action," Barua said.
Barua said he visited Sipa, an Iranian automobile company, and invited them to invest in Bangladesh either individually or in joint venture.