Motorcycle assemblers and manufacturers on Wednesday demanded a separate industrial park for motorcycle industry to help the sector flourished.
They also demanded reduction of motorcycle registration fee at rationale level.
Bangladesh Motorcycle Assemblers and Manufacturers Association (BMAMA) raised the demand at a meeting with industries minister Amir Hossain Amu at the ministry in Dhaka.
Entrepreneurs claimed that the prices of motorcycles had already dropped by around 50 per cent in the country due to domestic production.
Five companies have already started motorcycle manufacturing in the country while another four companies will start their production soon, they said.
BMAMA president Matiur Rahman, who is also Uttara Motors Ltd chairman, Bangladesh Honda Private Ltd managing director Yuichiro Ishii, TVS Auto Bangladesh Ltd chief executive officer Biplob Kumar Roy, Rassel Industries director Shamsul Bashar, Speedoz Ltd managing director Mehediur Rahman, representatives of Aftab Automobiles Ltd and ACI Motors Ltd, among others, attended the meeting.
Investors hoped that the sector would turn into a billion dollar industry within next five years following additional investment in line with the new policy.
Cabinet in last month approved the Motorcycle Industry Development Policy-2018 to facilitate the development of manufacturing
sector and export of locally made motorcycles.
At the meeting Amu advised entrepreneurs to boost investment in manufacturing rather than in assembling.
The government will provide all-out support, both fiscal and policy, to the investors in thriving the industry.
Industries secretary Md Abdul Halim, Bangladesh Steel and Engineering Corporation chairman Md Mizanur Rahman and other high officials were present at the meeting.
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