Toyota Tsusho Corporation is eying to launch vehicle manufacturing in Bangladesh, as a high-level delegation of the Japanese company briefed Prime Minister Tarique Rahman on its investment plans on Tuesday.

The delegation, led by Toyota Tsusho Vice Chairman Ichiro Kashitani, met the Prime Minister at his office in the Secretariat and informed him of the company’s plan to establish a Toyota vehicle manufacturing plant in Bangladesh, said PM’s Deputy Press Secretary Shahadat Hossain Shadhin.

The delegation said the initiative will contribute to employment generation, industrialisation expansion, technology transfer and the development of skilled human resources in the country.

The two sides also discussed expanding Toyota’s operations in Bangladesh, potential investment opportunities and the company’s long-term business plans.

Tarique Rahman welcomed Toyota Tsusho’s interest in expanding its investment and operations in Bangladesh.

He said the government is working to ensure a stable, competitive and investment-friendly environment for both domestic and foreign investors.

The Prime Minister said the government is committed to providing necessary policy support, infrastructure facilities and other opportunities to foreign investors.

He also highlighted the potential of waste-to-energy and renewable energy in Bangladesh, saying the government will provide necessary support if Toyota Tsusho is interested in investing in these sectors.

The Toyota delegation said its plan to expand Toyota Bangladesh’s distribution network to all divisional cities is already underway.

The expansion is aimed at making Toyota’s services and operations more accessible across the country.

The company also informed the Prime Minister that Toyota Bangladesh will begin work in 2027 to establish a Hybrid Electric Vehicle (HEV) manufacturing industry in an economic zone under the development vision of “With Bangladesh, for Bangladesh”, with full-scale production targeted for 2029.

Toyota also expressed interest in contributing to human resources development in Bangladesh, particularly by creating technical and vocational training opportunities for young people, enhancing their skills and developing a workforce suited to future industries.

Commerce Minister Khandakar Abdul Muktadir, Prime Minister’s Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humaiun Kobir, Prime Minister’s Adviser on Science and Technology Rehan Asif Asad and Prime Minister’s Special Assistant for Overseas Employment Affairs in the Asia-Pacific Region Dr Md Shakirul Islam Khan, among others, attended the meeting.

Toyota Tsusho Mobility Division CEO Shigeru Harada, President of Toyota Bangladesh Ltd Premmit Singh and other senior officials of the company were also present.