The Revolution Brings Opportunity for Bangladesh.
According to PM’s private sector industry and investment adviser Salman F Rahman, reducing import duty on high cc cars will generate more revenue. The government will provide essential amenities to potential investors to manufacture EV and high-tech cars.
He was attending the webinar as a chief guest. Policy Research Institute of Bangladesh (PRI) hosted the event which was entitled as ‘Car market in Bangladesh: Challenges and prospects’.
Countries all around the globe are being responsible. They took the initiative to get rid of petrol burned cars then why not Bangladesh? ” We should abide by the new technologies. “I have already discussed with German’s Volkswagen Company to invest in Bangladesh and set up electric car plants”, said Salman F Rahman. He also notified at the webinar that Bangladesh will offer free land and space in terms of electric car production.
By 2040 most vehicles will be going electric considering the climate change and this is an opportunity for the automobile industry. To support that on the electric vehicles the government has remarked 28 per cent as duty rate.
There are new technologies coming. As Bangladesh is still growing and the automobile industry has recently started to charge the turbo so moving from one to another will be easy. However, we need to focus on new tech and trends also the policy should be modified according to the fourth revolution, added Mr. Rahman.
Bangladesh should leapfrog in the next-generation car-making, not traditional fossil fuel-based car plants, said Salman Fazlur Rahman.
Therefore, Mr. Rahman strongly recommends to come up with new technologies to set up a car manufacturing plant. Furthermore, he emphasized the fact that automobile policy needs to integrate road and traffic management. While addressing to the aspects, Salman F Rahman was critical with his words.
In the meantime, Dr Ahsan H Mansur the PRI Executive Director gave support of the views of Salman F Rahman and said “Automobile Manufacturing Plants need to think about solar and power-based vehicles”.
In his presentation, he mentioned that in Bangladesh registered vehicle per capita 0.003 per cent, which is even lower than 0.129 percent in Myanmar. The vehicle per capita is 0.031 percent in Vietnam, 0.099 percent in the Philippines, 0.548 in Thailand, 0.500 in Indonesia and 0.897 percent in Malaysia.
“A domestic market has to be in size and shape for development and in our case that is missing”, said Ahsan H Mansur. He labelled high tax rates, poor road management and extreme road congestions as constraints to development also reason behind the lower number of car owners in Bangladesh.
World Bank Former Lead Economist Dr Zahid Hussain was the moderator of the programmer. If one dollar is invested the automobile industry gives back three dollars as value addition to the economy. As time is moving forward, consumers need safe and eco-friendly cars.
The car industry is high- flier in terms of economy. It has the potential to grow added former NBR Chairman Dr Muhammad Abdul Mazid. But new investment has to make for local and export markets as well as the backward linkage industries, he exclaimed.
During the programme, the respectable personnel discussed the different features and frequencies of the automobile industry. Thus, Salman F Rahman tried to intensify the possibilities and coax everyone to adopt the change along with the new tech otherwise we will fall behind.