Outgoing Malaysian High Commissioner Haznah Md. Hashim said that the Malaysian business entities' cumulative investment rose to US$ 5 billion in Bangladesh.
“This has mainly propelled by the two telecommunication companies- Robi and Edotco Bangladesh as they reinvested their profits here”, the envoy said adding that the local automobile company PHP Motors is assembling Malaysian brand, Perodua car here.
The envoy told this while she paid a farewell call on Prime Minister Sheikh Hasina at her office on Thursday.
She said PHP Motors, a concern of PHP Family, has tied up with Perodua, a top Malaysian automobile brand, to assemble their cars and SUVs in Bangladesh and sell those in the local market.
According to the website of the company, the PHP Automobiles Limited – the country’s first private automobile assembling organization in Chattogram, has planned to spread its services across the country.
To get the plan implemented, the organization is going to set up its showroom and develop other facilities in the capital by January of 2019. Later, the service will be taken to Sylhet, Khulna, Rajshahi, Bogura and other city’s gradually.
The Managing Director Mohammed Akther Parvez shared his plans regarding PHP Automobiles Ltd. He is also MD of the PHP Motors, a sister concern of the country’s business conglomerate PHP Family.
Narrating the story behind the journey, the MD said the then Malaysian Prime Minister Dr Mahathir Bin Mohamad arrived at a program of University of Information Technology and Sciences (UITS) in the capital in 2015.
Dr. Mahathir Bin Mohamad delivered a speech at the program as special guest. He insisted and requested the PHP Family to get engage in automobile business and invited to visit Malaysia to experience their automotive industry.
PHPA realized that as some 20,000 to 22,000 sedan cars are being sold in the country every year, there is a room in the market while 90 percent of the imported vehicles are reconditioned.
