Honda Motor Company in a joint venture with the state-owned Bangladesh Steel and Engineering Corporation (BSEC) is going to start manufacturing motorcycles locally this year.
The joint venture company 'Bangladesh Honda Private Limited' is setting up a motorcycle assembling and manufacturing plant in the country.
Industries Minister Amir Hossain Amu said, “The spare parts for motorcycles will be produced through joint investment or at the Industries Ministry-operated factories.”
He said this while talking to a delegation from Bangladesh Honda Private Limited at the ministry office in Dhaka, said a press release on Tuesday.
Mr Amu said, “The government is providing special focus on modern technology-based industrialisation by way of extending all sorts of policy supports to build manufacturing industries.”
“Hence, the motorcycle industries are also getting all facilities, including tax benefit, in the country,” he noted.
Industries Secretary Muhammad Abdullah, Chief Operating Officer of the Honda Motor Company Limited Noriaki Abe, Director of Asia and Oceania Region of Honda Motor Akira Murayama and Managing Director of Bangladesh Honda Private Limited Yuichiro Ishii were also present.
The meeting discussed a number of issues, including policy supports for the development of motorcycle industry and spare parts production for motorcycles.
As per the plan, they will produce one million motorcycles in the first year. In the fifth year, they want to increase production to three million units.
Honda Motor Company produces motorcycles, cars, robots, equipments for electricity and fuel and aircraft products.