South Korean Ambassador to Bangladesh Park Young-sik today said the local automobile manufacturing industry here needs to be encouraged so that Bangladesh can make its own vehicles reducing dependency on importing second-hand cars.
“Domestically made cars will also be good for the environment,” he told reporters while visiting the Fair Technology-Hyundai factory at the Bangabandhu Hi-Tech Park in Gazipur.
The envoy said Bangladesh could impose a ban on importing old cars like some developing countries like Mongolia and Laos.
After visiting the plant, the Ambassador said the car manufacturing plant is a unique example of how Bangladesh is preparing for its graduation from the LDC group.
He emphasized further improvement of the investment environment with an improved taxation system to attract more investment in the country. Fair Group founder and Chairman Ruhul Alam Al Mahbub said currently they are currently assembling 150 Hyundai cars per month and have the target to deliver 6000 cars to the Bangladesh domestic market next year. He said they have a plan to export made-in-Bangladesh cars in the future.
