Staff Reporter :
A leading Japanese company has planned to set up an automobile accessories manufacturing plant with an aim to link Bangladesh with the global supply chain.
Eyeing dynamic workforce of Bangladesh, the planned factory has been initially designed to manufacture high-quality cozy seats for overseas markets.
The TS Tech Co. Ltd, one of world’s top ten seat-component manufactures, initially planned to install state-of-the-art machinery for the key component of automobile products in Adamjee Export Processing Zone (AEPZ) by April 2016 to prepare for commencing its operation from late 2016.
The management of the TS Tech Co. Ltd has initially planed to manufacture 0.3 million seats per annum and along with ensuring employment of 500 Bangladeshi people according to sources at the AEPZ.
According to a recent interview of Senior Managing Director (Asian and European Operations) of the firm Yoshiaki Yui on their goals, objectives and future investment plan, a memorandum of understanding (MoU) was signed between BEPZA and JETRO during the visit of Bangladeshi Prime Minister Sheikh Hasina to Japan in May 2014 to keep some industrial plots in EPZs (export processing zones) solely for Japanese investors.
As an outcome of the MoU, the company has signed lease agreement with BEPZA for making its maiden investment in automobile sector here. It holds immense opportunities for connecting Bangladesh with global supply-chain business by using the firm’s network.
He noted that Bangladesh has no automobile industries but the sector is well-developed in neighbouring India.
“So, we can connect Bangladesh with the global supply chain exporting such quality products there,” Yui said.
According to him, the company will go for operation in full swing from late 2016 to export to Asian booming market, including Japan.
The Saitama-based firm, which was established in 1960, has 71 facilities and 45 subsidiaries in 13 countries around the world, with an annual supply of 4.0 to 4.50 million seats (car and motorbike).
About the company’s future business plan, Mr. Yui said Bangladesh economy is steadily growing and has immense potential with the blessings of demographic dividend.
“Besides doing our business, we will learn lots about Bangladeshi people and her environment before going for further expansion of operations,” he said.
Asked about reasons that drove the company into Bangladesh, he said they came here on two major things – high population base with 160 million people, including the enough cost-competitive garment workers, and good relationship between the friendly nations.
About local market, he said Bangladesh market is a big one but there is no automobile industry. “You know the country has huge potential and the government should develop necessary infrastructures like enough land with smooth connectivity to reap out the benefits.”
Mr. Yui said the investment by TS Tech in Bangladesh is very significant as it bears every possibility to promote the image of the country across Japan and encourage prospective Japanese investors who are willing to choose Bangladesh as their next destination for investment, trade and commerce.
Having a strong capital stock of 4.7 billion yens, the prominent Japanese company issued 68 million shares and around 90 per cent of its annual sales accounted for automobile-maker Honda’s seat component and the rest are Suzuki and other automobile interior trim and interior components.
A leading Japanese company has planned to set up an automobile accessories manufacturing plant with an aim to link Bangladesh with the global supply chain.
Eyeing dynamic workforce of Bangladesh, the planned factory has been initially designed to manufacture high-quality cozy seats for overseas markets.
The TS Tech Co. Ltd, one of world’s top ten seat-component manufactures, initially planned to install state-of-the-art machinery for the key component of automobile products in Adamjee Export Processing Zone (AEPZ) by April 2016 to prepare for commencing its operation from late 2016.
The management of the TS Tech Co. Ltd has initially planed to manufacture 0.3 million seats per annum and along with ensuring employment of 500 Bangladeshi people according to sources at the AEPZ.
According to a recent interview of Senior Managing Director (Asian and European Operations) of the firm Yoshiaki Yui on their goals, objectives and future investment plan, a memorandum of understanding (MoU) was signed between BEPZA and JETRO during the visit of Bangladeshi Prime Minister Sheikh Hasina to Japan in May 2014 to keep some industrial plots in EPZs (export processing zones) solely for Japanese investors.
As an outcome of the MoU, the company has signed lease agreement with BEPZA for making its maiden investment in automobile sector here. It holds immense opportunities for connecting Bangladesh with global supply-chain business by using the firm’s network.
He noted that Bangladesh has no automobile industries but the sector is well-developed in neighbouring India.
“So, we can connect Bangladesh with the global supply chain exporting such quality products there,” Yui said.
According to him, the company will go for operation in full swing from late 2016 to export to Asian booming market, including Japan.
The Saitama-based firm, which was established in 1960, has 71 facilities and 45 subsidiaries in 13 countries around the world, with an annual supply of 4.0 to 4.50 million seats (car and motorbike).
About the company’s future business plan, Mr. Yui said Bangladesh economy is steadily growing and has immense potential with the blessings of demographic dividend.
“Besides doing our business, we will learn lots about Bangladeshi people and her environment before going for further expansion of operations,” he said.
Asked about reasons that drove the company into Bangladesh, he said they came here on two major things – high population base with 160 million people, including the enough cost-competitive garment workers, and good relationship between the friendly nations.
About local market, he said Bangladesh market is a big one but there is no automobile industry. “You know the country has huge potential and the government should develop necessary infrastructures like enough land with smooth connectivity to reap out the benefits.”
Mr. Yui said the investment by TS Tech in Bangladesh is very significant as it bears every possibility to promote the image of the country across Japan and encourage prospective Japanese investors who are willing to choose Bangladesh as their next destination for investment, trade and commerce.
Having a strong capital stock of 4.7 billion yens, the prominent Japanese company issued 68 million shares and around 90 per cent of its annual sales accounted for automobile-maker Honda’s seat component and the rest are Suzuki and other automobile interior trim and interior components.
