Bangladesh Honda Private Limited (BHL), the Japanese Honda Motor Company’s joint venture in Bangladesh, has started motorcycle manufacturing in Bangladesh at its new factory in the Abdul Monem Economic Zone at Gazaria under Munshiganj district.
Industries Minister Amir Hossain Amu today inaugurated the new plant as the chief guest at a function, said a press release here.
Speaking on the occasion, Amu traced back the existing relations between Bangladesh and Japan and said Japan lent support to Bangladesh’s Liberation War.
The government is establishing 100 economic zones (EZs) across the country and providing all sorts of supports to the investors in the EZs, he added.
As per the demand of Japan, Amu said a separate economic zone for the Japanese investors has already been earmarked.
Parliament Member Saber Hossain Chowdhury, Executive Director of the Bangladesh Economic Zone Authority (BEZA) Paban Chowdhury, Bangladesh Steel and Engineering Corporation (BSEC) Chairman Mizanur Rahman, Senior Managing Director and Chief Officer for Production Operations of Honda Motor Company Limited Yoshi Yamane and Managing Director and CEO of BHL, among others, were present at the function.
Yoshi Yamane said, the inauguration of the new factory demonstrates one of the most important initiatives to realize the 2030 Vision. The Bangladesh Honda Limited will aim to develop further by providing reliable and quality products from this new factory, he added.
Yuichiro Ishii said as the leading motorcycle manufacturer, and with the guidance and expertise of Honda Motor in Japan, Honda believes that the motorcycle industry will expand and contribute to the national economy by generating more employment, developing a skilled workforce, transferring technology, encouraging the growth of a parts supplier industry, and attracting more direct foreign investment.
Honda, along with its partner BSEC under the Ministry of Industries, has invested a total of Taka 2.3 billion on buildings, equipment, facilities, and a land area of 25 acres for the new factory. It will have an initial annual production capacity of 100,000 units of motorcycles.
In line with market trends, BHL plans to continue to invest in expanding its production capacity to 200,000 units by 2021, and will build its full-phase factory on the remaining two-thirds of the property to accommodate future market growth.
The Bangladesh Honda Limited is committed to offering the highest-quality products at reasonable prices while contributing to society by providing people with the joy and freedom of mobility. Through these efforts, BHL will strive to be a company that society wants to exist in Bangladesh. Driven by strong passion, the company will take on new challenges to fulfill this mission.
Honda is a well known name in the motorcycle market of Bangladesh. Many people in the country still call motorcycles as Honda. The concerned people said that Honda will increase their production capacity in new factories. The factory will increase the value addition in the country and the price of the motorcycle is expected to reduce the concerned people.-BSS