Bangladesh has failed to exploit its immense potential in the automobile sector due to absence of policy, design and drawings of two, three and four wheelers, according to the FBCCI. As a result, almost 99 per cent of automobiles are manufactured by foreign vendors. Entrepreneurs in this sector urged the government to shield the sector with proper policy. Read: Skilled manpower shortage holds back development: FBCCI They made this call at the first meeting of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Standing Committee on Automobile Manufacturers and Assemblers held at FBCCI Icon on Wednesday. Speaking as the chief guest, FBCCI president Md. Jashim Uddin said Bangladesh is now gradually lessening its dependence on import, while strengthening the local manufacturing capacity, which enables the country to expand its export base in addition to meeting domestic demand. Proper branding of this capacity would have led to more investment and employment as well, he said. Md. Habib Ullah Dawn, director in charge of the Standing Committee called for ensuring a competitive market of quality products besides solving the problems related to policies regarding automobile industries. In future, FBCCI would organize seminars inviting the representatives from concerned ministries, he added. Read:FBCCI calls for extension of loan moratorium till June Chairing the meeting, the Chairman of the Standing Committee and the Chairman of Runner Group, Hafizur Rahman Khan urged the businessmen to work on sector wise development and to prepare a draft on various issues to be submitted to the government through FBCCI. The FBCCI already started working with the government regarding vendor policy, Hafizur Rahman informed the meeting.

The Cabinet on Monday approved the draft of a policy to develop automobile industry in the country considering the growing demand. The Automobile Industry Development Policy 2021 was okayed at the weekly Cabinet meeting held at the Cabinet Room of the Jatiya Sangsad with Prime Minister Sheikh Hasina in the chair. “We need to develop the automobile industry in our own interest amid growing demand…. We’re thinking of the development of the automobile industry to some extent, not remaining dependent only on import,” said Cabinet Secretary Khandker Anwarul Islam during a post-meeting media briefing at the Secretariat. Also read: Working to build Bangladesh as regional automobile manufacturing hub: Humayun He said there is a potential for the development of the automobile industry in the country. The main objective of the policy is to develop the local industry by ensuring competence in automobile engineering and necessary facilities for production of automobiles and parts, he said. Khandker Anwarul said another objective of the policy is to enhance scopes for cooperation and joint-investment between local automobile industries and with international automobile brands so that the products of famous brands and models can be produced here at lesser costs. He said quoted Japanese ambassador in Dhaka as saying that a famous Japanese company has shown interest making their brands in Bangladesh. Also read: Bangladesh to produce own brand of automobiles: Minister Besides, the Cabinet gave the final approval to the draft of the Delimitation of Constituencies Bill, 2021 seeking to formulate an act to replace a military regime-era ordinance in line with the court’s judgment. “The proposed law has been designed aiming to make an act instead of the existing Delimitation of Constituencies Ordinance 1976,” said the Cabinet Secretary. No major change was brought to the draft law, he said. The Cabinet also cleared a proposal for accepting the membership of OIC’s Women Development Organisation (WDO) as well as ratification and signing of the WDO Statute to this end.

A 3-day trade show on automobile industry was postponed  following the detection of coronavirus patients in the country.