S Korea to help Bangladesh in manufacturing own brand cars

FE REPORT
South Korea expressed on Thursday its interest in collaborating with Bangladesh to facilitate the production of its domestically branded automobiles.
Park Young-sik, the South Korean Ambassador in Dhaka, conveyed this enthusiasm during a meeting with Industries Minister Nurul Majid Mahmud Humayun at his city office.
The discussions between the ambassador and the minister covered various topics, including new investments in Bangladesh.
Industries Minister Humayun highlighted the government's initiatives to establish Bangladesh's own brand of cars through Pragati Industries, a subsidiary of the Bangladesh Steel and Engineering Corporation (BSEC) under the Industries Ministry.
Humayun emphasized that cooperation from South Korea in this endeavour would expedite car manufacturing activities.
He noted the inclusion of 1500-1600 cc car manufacturing in the Automobile Industry Development Policy-2021.
The minister also shared the experience of his personal visits to Hyundai Motor Company's factory in Kaliakoir, Gazipur, and Samsung factory in Narsingdi, Bangladesh.
He expressed optimism that other Korean companies might consider investing in Bangladesh for mutual benefits.
Anticipating an increase in bilateral trade, the minister conveyed his hopes for strengthened economic ties between the two nations, recognizing the existing potential.
In response, the Korean envoy sought the minister's cooperation in simplifying visa procedures for Korean nationals in Bangladesh and addressing duty and tax-related issues.
The Minister assured the envoy that he would discuss these matters with government officials.
The meeting was attended by Industries Secretary Jakia Sultana and other high-ranking officials from the ministry.
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