It is surely a good news for the local economy of Habiganj district. Pran group is investing US $10 million on a bicycle assembly plan there. The plant is going to have two units- one for the domestic Bangladeshi market and the other one is for exporting to foreign markets.
According to Banglanews.com, the company is targeting for the European Union market in the initial stage. The company is also going to produce different kind of bicycles, from ‘from BMX to mountain trekking and road bikes’.
Bangladesh has special access to the EU market when it comes to exporting bicycles. Already the country export a decent number of bikes to EU already. So, Pran Group has taken a good decision to take advantage of this opportunity.
Bicycles are a part of daily life in Bangladesh. However, these days, it has gained considerable popularity in Dhaka among the young generation. So, the demand for fashionable, modern and expensive bikes is going increase. Bangladesh has a population of 160 million and has a consistent economic growth of 6%. So, there is a lot of room for producing and manufacturing almost anything including bicycles.