CaPtAiN_pLaNeT
SENIOR MEMBER
- Joined
- May 10, 2010
- Messages
- 7,685
- Reaction score
- 0
Bangladesh enjoying heavy industry expansion, attracting Japan firms
Bangladesh enjoying heavy industry expansion, attracting Japan firms - The Mainichi Daily News
TOKYO (Kyodo) -- Local companies in Bangladesh are aggressively diversifying into heavy machinery industries, offering a new window of opportunity for Japanese manufacturers in a promising Asian market with a population of some 160 million.
Topping the list of such firms is the Dhaka-based home electronics maker Walton High-Tech Industries Ltd., which is planning automobile production. The company, which started production in 2006 as the first domestic electronics manufacturer, said it hopes to begin making cars at its new plant next year.
Walton executives say they want to put three or four passenger car models on the market in the near future, possibly by tying up with some Japanese companies and gaining their technical support.
Walton is among the local companies rapidly expanding and growing into major exporters in Bangladesh, where the textile business has been the main industry and imported products have commanded large shares of the domestic market.
While grabbing a large market share in the domestic home appliance market with its low-priced products, Walton has expanded into motorcycle production.
Bangladesh has been seeing annual economic growth of around 6 percent in recent years and its government is seeking development of industrial clusters by setting up special economic zones.
Hoping to beat foreign rivals in establishing a presence in the promising market, a Japanese economic delegation led by the government-backed Japan External Trade Organization, known as JETRO, visited Bangladesh in February. Officials from about 40 Japanese companies including electronics and auto parts makers took part in the program, reflecting Japanese firms' growing interest in the country's cheap labor and economic growth.
Fast Retailing Co., which operates Uniqlo casual clothing stores in Japan and in some major cities abroad, is among the Japanese companies already operating in Bangladesh.
Some of the officials who visited the country cited concerns about lagging infrastructure development, but voiced hope for business potentials arising from gaining a foothold before more companies from around the world come into the market.
The head of JETRO's office in Bangladesh said the number of Japanese companies contacting the trade-promoting organization for information and advice about the Bangladesh market has doubled since around 2006.
Other rapidly growing industries in the country include shipbuilding. Propelled by technologies and business know-how brought by Bangladeshi-born engineers with overseas working experience, Western Marine Shipyard has been winning a series of orders from Europe and elsewhere for small vessels.
(Mainichi Japan) March 10, 2012
Bangladesh enjoying heavy industry expansion, attracting Japan firms - The Mainichi Daily News
TOKYO (Kyodo) -- Local companies in Bangladesh are aggressively diversifying into heavy machinery industries, offering a new window of opportunity for Japanese manufacturers in a promising Asian market with a population of some 160 million.
Topping the list of such firms is the Dhaka-based home electronics maker Walton High-Tech Industries Ltd., which is planning automobile production. The company, which started production in 2006 as the first domestic electronics manufacturer, said it hopes to begin making cars at its new plant next year.
Walton executives say they want to put three or four passenger car models on the market in the near future, possibly by tying up with some Japanese companies and gaining their technical support.
Walton is among the local companies rapidly expanding and growing into major exporters in Bangladesh, where the textile business has been the main industry and imported products have commanded large shares of the domestic market.
While grabbing a large market share in the domestic home appliance market with its low-priced products, Walton has expanded into motorcycle production.
Bangladesh has been seeing annual economic growth of around 6 percent in recent years and its government is seeking development of industrial clusters by setting up special economic zones.
Hoping to beat foreign rivals in establishing a presence in the promising market, a Japanese economic delegation led by the government-backed Japan External Trade Organization, known as JETRO, visited Bangladesh in February. Officials from about 40 Japanese companies including electronics and auto parts makers took part in the program, reflecting Japanese firms' growing interest in the country's cheap labor and economic growth.
Fast Retailing Co., which operates Uniqlo casual clothing stores in Japan and in some major cities abroad, is among the Japanese companies already operating in Bangladesh.
Some of the officials who visited the country cited concerns about lagging infrastructure development, but voiced hope for business potentials arising from gaining a foothold before more companies from around the world come into the market.
The head of JETRO's office in Bangladesh said the number of Japanese companies contacting the trade-promoting organization for information and advice about the Bangladesh market has doubled since around 2006.
Other rapidly growing industries in the country include shipbuilding. Propelled by technologies and business know-how brought by Bangladeshi-born engineers with overseas working experience, Western Marine Shipyard has been winning a series of orders from Europe and elsewhere for small vessels.
(Mainichi Japan) March 10, 2012
plus they are cheap and walton even provides loan to purchase them.Just today i ride in one, it's light and good, but not for great pick-up
