It is certainly encouraging to see that brand-new Kia SUVs assembled in Bangladesh, and could mark a significant milestone for Bangladesh's economy. This development goes beyond just introducing new vehicles to the market - instead, it could hopefully be the first step towards reducing reliance on imports to fulfil our automotive needs.
Assembling cars locally, first and foremost, creates jobs. The establishment of assembly plants necessitates a skilled workforce, which can lead to job creation in manufacturing, engineering, and support services, helping to reduce unemployment rates and improving living standards for many families.
Indeed, we have been informed that while Korean engineers and technicians would operate the Gazipur assembly plant for the first two years to ensure original quality, by that time, local engineers and technicians would be expected to have the efficiency and quality to take over.
Moreover, local assembly can stimulate the economy by fostering ancillary industries. Suppliers of parts and materials will see increased demand, leading to the growth of local businesses. This interconnectedness can help diversify the economy and reduce dependency on a few sectors.
By enhancing local production capabilities, we can reduce our trade deficit while simultaneously positioning Bangladesh as an emerging player in the regional automotive market, leading to more foreign investment and partnerships.
What is important now is to remain pro-active in this field. Bangladesh is in the nascent stage of establishing assembly plants for manufacturers, and as we continue to develop this sector, it has the potential to help our economy in a meaningful way and pave the way for a more prosperous future.
