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Pragati Industries Limited assembles cars and buses, of the
Pajero, Vauxhall, and Mitsubishi brands. Pragati Industries Limited is based in
Dhaka, Bangladesh. Mitsubishi wants to
grow the company as a whole and Pragati is holding a negotiation with
Mitsubishi to produce its cars. The country's lone state-owned automobile
assembling industry is now assembling Mitsubishi's Pajero car.
This proposal comes nearly two years after Pragati
Industries of Bangladesh started assembling Mitsubishi cars. Mitsubishi for
years has been trying to expand more to the open market, currently Mitsubishi
is the 6th largest automaker in Japan and 16th in the
world by production. Mitsubishi has very strong interests after companies from
South Korea and Malaysia planned to set up car plants in Bangladesh to increase
their growing market.
Both Mitsubishi and Bangladesh will benefit from this deal
if it fully goes through. Mitsubishi will have more car plants and more of a
market to appeal too and Bangladesh economy will improve. Why? Well one example
stated by Md Abdul Hamid Sharif, chief executive officer of Auto Con Group, is
that the cost of a Mitsubishi Pajero Car, which is sold in Japanese market,
will come down by 35% to 40% in the local market, if such vehicle is
manufactured in Bangladesh with minimum value addition of 50%-60%.
“Once the agreement is done, it will move
Bangladesh to another level of industrialization,” said Md Abdul Hamid Sharif,
chief executive officer of Auto Con Group.
