Myanmar agrees with Asian Highway plan
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integra
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I think for starter bangladesh should at first go for ckd vehicles may be after the experience gathered they can opt for the raw materials. Price wise the chinese can provide the cheapest options, which is good.
TopCat
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For steel its India. We could import iron ore directly from India and make steel....
TopCat
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Great news....the trade increase shall be good for BD economy....however, isnt there possibility that trade deficit with China will expand further as well....??
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No it will not.. There will be huge chinese investment on the pipeline specaially after people to people contact and after deep sea port.
bd_4_ever
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In 2-3 years time, Pragoti will be producing and exporting cars, if i read the article properly....and hence its quite obvious that India will be the first preference for steel import....
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TopCat
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how is the Tegaz factory coming along in Kishoreganj. They suppose to export 50000/yr sedan to europe by 2013
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Yes....but the deep port in BD will be a trump card for China, especially in term of ecomony....apart from benefiting us, the rate of benefit China will be experiencing will be much larger then us....
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integra
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but I've heard TATA criticised the export of gud quality ores from India . Therefore its not viable I guess.
Still assam has huge reserve.
bd_4_ever
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Really....??
I did not hear anything regarding it, but great if its true....!!! Sedan will be produced by Pragoti, that is what i knew....so is Tegaz another concern of Pragoti....??I also heard that an "automobile park/industry" would be made for further development in this sector....?? Please correct me if i am wrong....
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TopCat
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I understand your concern, but in the long run its the smaller economy which benefits from the bigger economy. Look at Taiwan, Hongkong, Vietnam who are making fortunes export to China. We just need right mind to explore the possibilities. If we cant then its us to be blamed.
TopCat
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Really....??
I also heard that an "automobile park/industry" would be made for further development in this sector....?? Please correct me if i am wrong....
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Progoti will be assembling and 300/500 cars a year. But Tegaz will be building cars from scratch on a 300 acre factory in Kishoreganj.
Tata is also setting up factory in Kishoreganj near Bhairab.
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bd_4_ever
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TopCat
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South Korean company to manufacture cars in Bangladesh
A South Korean automaker will invest around two billion US dollars in Bangladesh to manufacture cars aiming to grab the South Asian country's booming market and avail the opportunities for export abroad, officials said Thursday.
Secretary of Bangladesh's Industries Ministry Dewan Zakir Hussain told Xinhua Thursday, the South Korean company -- Tagaz Korea -- has already procured 350 acres of land near the country 's capital city Dhaka for establishing its plant.
"We welcome the company's mega investment plan in Bangladesh," he said, adding "Our doors are open for any sorts foreign investment in the country."
The company has planned to complete establishing its plant in Bangladesh by the next 24 months, Hussain said adding the Korean and Russian joint venture company wants to manufacture cars in Bangladesh because of its low labor cost and strategic location for export market.
Automobile industry is a semi-labor intensive industry so the labor cost is a factor for more competitiveness in global market, said Abdul Mannan Nasir, managing director of Cimillae Development Co, a concern of the Tagaz in Bangladesh.
He said, "A sedan costs 10,000 US dollars in South Korea but we can reduce the cost here by around 3,000 US dollars due to low labor cost and other facilities."
Apart from cheap labor, Nasir said Bangladesh as a developing nation is enjoying some special benefits in exporting its goods to European market which also impressed Tagaz to choose the country for its investment destination and become first automobile company in the country.
According to local media report, Bangladesh's car market has been growing steadily over the past few years mainly because of the ease credit facility. The country imports around 30,000 re-conditioned cars a year.
Global Times - South Korean company to manufacture cars in Bangladesh
---------- Post added at 05:54 PM ---------- Previous post was at 05:53 PM ----------
Seems like as two giants already made their plan.
A South Korean automaker will invest around two billion US dollars in Bangladesh to manufacture cars aiming to grab the South Asian country's booming market and avail the opportunities for export abroad, officials said Thursday.
Secretary of Bangladesh's Industries Ministry Dewan Zakir Hussain told Xinhua Thursday, the South Korean company -- Tagaz Korea -- has already procured 350 acres of land near the country 's capital city Dhaka for establishing its plant.
"We welcome the company's mega investment plan in Bangladesh," he said, adding "Our doors are open for any sorts foreign investment in the country."
The company has planned to complete establishing its plant in Bangladesh by the next 24 months, Hussain said adding the Korean and Russian joint venture company wants to manufacture cars in Bangladesh because of its low labor cost and strategic location for export market.
Automobile industry is a semi-labor intensive industry so the labor cost is a factor for more competitiveness in global market, said Abdul Mannan Nasir, managing director of Cimillae Development Co, a concern of the Tagaz in Bangladesh.
He said, "A sedan costs 10,000 US dollars in South Korea but we can reduce the cost here by around 3,000 US dollars due to low labor cost and other facilities."
Apart from cheap labor, Nasir said Bangladesh as a developing nation is enjoying some special benefits in exporting its goods to European market which also impressed Tagaz to choose the country for its investment destination and become first automobile company in the country.
According to local media report, Bangladesh's car market has been growing steadily over the past few years mainly because of the ease credit facility. The country imports around 30,000 re-conditioned cars a year.
Global Times - South Korean company to manufacture cars in Bangladesh
---------- Post added at 05:54 PM ---------- Previous post was at 05:53 PM ----------
Seems like as two giants already made their plan.
