South Korean Ambassador to Bangladesh Park Young-sik said as Bangladesh is moving towards the next stage of its development journey, it needs to encourage domestic production of cars and reduce dependency on import of reconditioned second-hand cars.
According to him, the new cars will also help reduce pollution in the country.
The South Korean Ambassador said many countries have already stopped importing old cars and Bangladesh can also adopt a similar policy.
Fair Group Founder and Chairman Ruhul Alam Al Mahbub, Director and CEO of Fair Technology Limited Mutassim Daiaan, Daily Sun Editor and President of Diplomatic Correspondents Association, Bangladesh (DCAB) Rezaul Karim Lotus and DCAB General Secretary Emrul Kayesh, among others, were present.
After visiting the plant, the Ambassador said if Bangladesh expands its manufacturing base, it will help create quality jobs in the country.
He laid emphasis on further improvement of the investment environment with an improved taxation system to attract more investment in the country.
Park Young-sik said the car manufacturing plan is a unique example of how Bangladesh is preparing for the next stage of development.
Fair Group Chairman Mahbub said they need to create employment for the young talented people and laid emphasis on quality education with the presence of more vocational institutes in the country.
He acknowledged the support they are receiving from the government. “We do not want money, we want policy support from the government.”
Mahbub said that they are giving the most competitive price for the Hyundai cars manufactured in Bangladesh with five years warranty. “We are expanding our service centers across the country,” he added.
Remembering that the Fair Technology-Hyundai factory was inaugurated at the Bangabandhu Hi-Tech Park in January
this year, DCAB President Lotus said the factory's inauguration was undoubtedly a decisive step towards implementing Bangladesh's vision of "Smart Bangladesh".
There are a number of models currently being produced in the plant. These are Creta: 1497cc, 5 seater; Creta Grand: 1493cc, 7 seater.
The current production capacity of the plant is 7000 per year, officials said.
Though the company, having over 350 employees, is currently focusing on the domestic market, it has a plan to export made-in-Bangladesh cars in the future, they said.
The number of showrooms will be increased to 20 while the current number of showrooms are six.