Toyota Tsusho plans vehicle manufacturing in Bangladesh

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Toyota Tsusho Corporation is planning to establish a vehicle manufacturing facility in Bangladesh, with a senior delegation of the Japanese company presenting its investment plans to Prime Minister Tarique Rahman on Tuesday.

Led by Toyota Tsusho Vice Chairman Ichiro Kashitani, the delegation met the prime minister at his office in the Secretariat and outlined plans to set up a Toyota vehicle manufacturing plant in the country, according to the prime minister’s Deputy Press Secretary Shahadat Hossain Shadhin.

The company said the project could create jobs, support industrial expansion, facilitate technology transfer and help develop skilled workers.

During the meeting, the two sides also discussed expanding Toyota’s operations, possible investment areas and the company’s long-term business plans.

Tarique welcomed Toyota Tsusho’s interest in increasing its investment and operations in Bangladesh. He said the government was working to maintain a stable, competitive and investment-friendly environment and would provide policy support, infrastructure and other facilities to foreign investors.

The prime minister also invited Toyota Tsusho to explore investment in waste-to-energy and renewable energy, assuring the company of government support in these sectors.

Toyota said its plan to expand Toyota Bangladesh’s distribution network to all divisional cities is already underway to make its services more accessible nationwide.

The company further said Toyota Bangladesh would begin work in 2027 to establish a Hybrid Electric Vehicle manufacturing industry in an economic zone under the “With Bangladesh, for Bangladesh” vision, with full-scale production planned for 2029.

Toyota Tsusho also expressed interest in supporting human resource development by creating technical and vocational training opportunities for young people and preparing workers for future industries.

Several senior government officials and Toyota Tsusho and Toyota Bangladesh executives attended the meeting.