POST TIME: 15 March, 2019 10:42:00 AM
Invest in local automobile industry
Humayun urges young entrepreneurs
BSS, Dhaka

Invest in local automobile industry

Industries Minister Nurul Majid Mahmud Humayun is seen with others at the Dhaka Motor Show in the capital yesterday. Photo Courtesy: BSS

Industries Minister Nurul Majid Mahmud Humayun yesterday called upon the young entrepreneurs to invest in motor car manufacturing industry to develop the country’s automobile sector. He said local market has a huge demand of automobiles so “it [market] has to be retained by manufacturing car locally.
Humayun inaugurated a three-day international motor show, along with concurrent expositions of bikes, commercial vehicles and auto parts, in the capital’s International Convention City Bashundhara yesterday. Speaking on the occasion he said, “Handing over this [market] to others never be logical only depending on the imported cars.”
Putting emphasis on developing “own brand” instead of assembling and import cars, he said imported reconditioned cars would loss market soon in the country due to the evolvement of modern automobile industry.
The industries minister said his ministry would provide all types of cooperation including land allocation to the entrepreneurs who come forward for local automobile brands.
CEMS Bangladesh in association with CEMS Global is organising the 14th edition of the Dhaka Motor Show. The 5th Dhaka Bike Show 2019, the 3rd Dhaka Commercial Vehicle Show 2019, and the 4th Dhaka Auto Parts Show 2019 are also taking place the motor show at the same venue simultaneously.
A total of 265 exhibitors from 16 countries such as Bangladesh, Germany, Italy, France, US, Japan, China, India and Malaysia are showcasing their products and services in more than 580 booths.
Managing Director of REL Motors Limited Reyad Hasnain, Managing Director of Rancon Motor Bikes Limited Shawn Hakim, Director of Energypac Power Generation Limited Enamul Haque Chowdhury and Executive Director of Karnaphuli Group Anis-Ud-Dowla, among others, also spoke with President and Group Managing Director of CEMS Global -USA and Asia Pacific Meherun N Islam in the chair.
Reyad Hasnain said Bangladesh’s car market is booming with 63 new cars hitting the streets every day.
The Dhaka Motor show, along with the concurrent expositions, is the only gateway to the automotive industry of Bangladesh. The exposition exhibits new vehicles and aftermarket components of the rapidly expanding automotive market and offers a perfect business-to-business platform, said the organiser.
Vehicles in the categories of cars, sports utility vehicles, multi-utility vehicles, commercial vehicles, buses, trucks, three wheelers, alternative energy-driven vehicles, electric vehicles, motor cycles, and scooters are showcasing at the event.
The expos are also showcasing auto parts and services such as automotive components and spares, garage, garage equipment, accessories, insurance products and services, auto finance and leasing, IT for auto industry, oil and lubricants, CNG kits and units, tyres, wheels, design concepts, auto electronics, coach builders and design vehicles.