Dhaka:Toyota Tsusho Corporation aims to start vehicle manufacturing in Bangladesh, as a delegation from the Japanese company briefed Prime Minister Tarique Rahman on its investment plans.
According to United News of Bangladesh, the delegation, led by Toyota Tsusho Vice Chairman Ichiro Kashitani, met with the Prime Minister at the Secretariat. They outlined plans to establish a Toyota vehicle manufacturing plant in Bangladesh, as reported by PM's Deputy Press Secretary Shahadat Hossain Shadhin.
The initiative is expected to boost employment, industrial expansion, technology transfer, and skill development in the country. Discussions also included expanding Toyota's operations, exploring investment opportunities, and the company's long-term business plans.
Prime Minister Rahman welcomed Toyota Tsusho's interest, emphasizing the government's efforts to create a stable, competitive, and investment-friendly environment for investors. He assured the delegation of necessary policy support and infrastructure facilities for foreign investors.
Rahman also highlighted the potential of waste-to-energy and renewable energy sectors, offering support if Toyota Tsusho chooses to invest in these areas. The Toyota delegation revealed plans to enhance Toyota Bangladesh's distribution network across all divisional cities to improve accessibility.
Toyota Bangladesh is set to begin establishing a Hybrid Electric Vehicle manufacturing industry in an economic zone by 2027, with full-scale production targeted for 2029 under the vision 'With Bangladesh, for Bangladesh'. They also expressed interest in developing human resources through technical and vocational training for youth.
The meeting was attended by Commerce Minister Khandakar Abdul Muktadir, Prime Minister's Adviser on Finance and Planning Dr. Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humaiun Kobir, and other officials. Toyota Tsusho Mobility Division CEO Shigeru Harada and President of Toyota Bangladesh Ltd Premmit Singh were also present.