Prime Minister Tarique Rahman on Tuesday stated that his administration is actively working to ensure a stable, competitive, and investment-friendly environment for both domestic and foreign investors. He made the remarks during a courtesy call at his office at the Secretariat by a high-level delegation of Toyota Tsus Corporation, led by its Vice Chairman Ichiro Kashitani, according to the PM's Deputy Press Secretary Shahadat Shadhin.
During the meeting, the Toyota Tsusho delegation informed the prime minister about its plan to establish a Toyota automobile manufacturing plant in Bangladesh. The delegation noted that the initiative would create employment, promote industrialization, facilitate technology transfer, and help develop skilled human resources in the country.
Welcoming Toyota's expansion interest, Prime Minister Tarique Rahman pledged that the government is fully committed to ensuring necessary policy support, infrastructure, and other facilities for foreign investors. He also highlighted the potential of waste-to-energy generation and renewable energy in Bangladesh, offering government cooperation if Toyota Tsusho explores investments in those sectors.
The Toyota representatives informed the prime minister that plans are underway to expand Toyota Bangladesh's distribution network to all divisional levels to make services more accessible regionally. Furthermore, Toyota Bangladesh expects to begin work in 2027 to establish a hybrid electric vehicle manufacturing industry in an economic zone under the vision of "With Bangladesh, For Bangladesh", with full-scale production slated for 2029.
Toyota Bangladesh also expressed interest in contributing to human resource development by establishing technical and vocational training opportunities for young people. Attendees at the high-level meeting included Commerce Minister Khandakar Abdul Muktadir, Prime Minister's Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humaiun Kobir, and Mobility Division CEO Shigeru Harada.
Why it matters
The proposed investment by Toyota Tsusho Corporation advances industrialization, brings advanced automotive manufacturing technology, and creates vocational training opportunities in Bangladesh.