A Memorandum of Understanding (MoU) has been signed between Mitsubishi Motors and Pragati Industries Limited to jointly manufacture Mitsubishi cars in Bangladesh.
The ministry organized a virtual discussion where Minister of Industries Nurul Majid Mahmud Humayun presided over the function under the chairmanship of Secretary KM Ali Azam, read a press release.
State Minister for Industries Kamal Ahmed Majumder said, "State-owned enterprises should modernize their progress as well as increase quality production. Competition has increased in every field in the age of globalization and to survive in this race, progress must be modernized first."
Mentioning that industrial factories have to be set up in a planned manner to overcome the space crisis in the country, the state minister also said that multi-storied factories can be built following the developed world.
Regarding the factory space, State Minister suggested that space can be taken from the closed sugar mills for which sugar corporations can receive payment.
"If all goes well, the project can be signed by the Ministry of Industries," he added.
According to the state minister, world-renowned Japanese brand Mitsubishi would jointly produce cars in Bangladesh through Pragati Industries Limited under the Ministry of Industries. Before the final agreement, the government will do a joint study to decide the future workplan.
The discussion was attended by project officials from the ministry and Pragati Industries.