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Toyota Tsusho Corporation is planning to establish a vehicle manufacturing plant in Bangladesh, with a high-level delegation of the Japanese company briefing Prime Minister Tarique Rahman on its investment plans on Tuesday.
Led by Toyota Tsusho Vice Chairman Ichiro Kashitani, the delegation met the Prime Minister at his office in the Secretariat and discussed plans to establish a Toyota vehicle manufacturing facility in Bangladesh, PM’s Deputy Press Secretary Shahadat Hossain Shadhin said.
According to the delegation, the proposed investment would help create jobs, expand industrialisation, facilitate technology transfer and develop skilled human resources in Bangladesh.
The meeting also covered the expansion of Toyota’s operations, potential investment opportunities and the company’s long-term business plans in the country.
Prime Minister Tarique Rahman welcomed Toyota Tsusho’s interest in expanding its investment and operations in Bangladesh, saying the government is working to create a stable, competitive and investment-friendly environment for both local and foreign investors.
He assured the delegation of necessary policy support, infrastructure facilities and other assistance to facilitate foreign investment.
The Prime Minister also highlighted Bangladesh’s potential in waste-to-energy and renewable energy, saying the government would extend necessary support if Toyota Tsusho is interested in investing in these sectors.
The Japanese company informed the Prime Minister that it is already working to expand Toyota Bangladesh’s distribution network to all divisional cities, aiming to make its services and operations more accessible nationwide.
The delegation also said Toyota Bangladesh plans to begin work in 2027 on establishing a Hybrid Electric Vehicle (HEV) manufacturing industry in an economic zone under its “With Bangladesh, for Bangladesh” development vision. Full-scale production is targeted for 2029, according to the company.
Toyota also expressed interest in supporting human resource development by creating technical and vocational training opportunities for young people, enhancing their skills and preparing a workforce for future industries.
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, Prime Minister’s Adviser on Science and Technology Rehan Asif Asad, and Prime Minister’s Special Assistant for Overseas Employment Affairs in the Asia-Pacific Region Dr Md Shakirul Islam Khan, among others, attended the meeting.
Toyota Tsusho Mobility Division CEO Shigeru Harada, Toyota Bangladesh Ltd President Prem