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Bangladesh businesses look to Japanese investment in special economic zones

ba+ja-e1384920724919Japanese investors could invest in building international standard special economic zones in Bangladesh in view of the government policy to attract foreign direct investment (FDI), said speakers at a seminar in the capital Sunday.

They laid emphasis on increasing collaboration between Bangladesh and Japanese entrepreneurs for mutual trade benefits of the two countries.

Dhaka Chamber of Commerce and Industry (DCCI) and Japan External Trade Organisation (JETRO) jointly arranged the seminar titled “Business Climate in Asia and Bangladesh Position” at DCCI auditorium on the day.

DCCI president Mohammad Shahjahan Khan delivered the address of welcome, while secretary of the ministry of planning Bhuiyan Shafiqul Islam was present as chief guest.

The DCCI president said that Bangladesh and Japan have been maintaining good relations since long, and Japan has contributed a lot to the economic development of the country.

Mentioning the government initiative to attract FDI, the DCCI president said the Bangladesh government has established a task force comprising business leaders and government officials with a goal to eliminate impediments to Japanese investment.

He said the task force was also aimed at exploring the prospective areas of Japanese investment in Bangladesh and identifying problems standing in the way of attracting investment from the world’s third largest economy.

Shahjahan Khan sought Japanese investment in gas exploration, power generation, communication network, infrastructure and agro-based industries in Bangladesh. Japanese cooperation is important for boosting the efficiency of Bangladesh’s fertiliser factories, he added.

Planning secretary Bhuiyan Shafiqul Islam said the present government of Bangladesh was working hard to improve the people’s living standard through eradicating poverty and creating employment opportunities.

He laid emphasis on Japan’s cooperation in the economic development of Bangladesh.

He called upon JETRO to collaborate with the Bangladesh private sector to make the country an attractive investment destination.

He added that Bangladesh has taken an open-door policy to attract FDI. He called upon the Japanese investors to invest more in Bangladesh.

DCCI and JETRO signed a memorandum of understanding (MoU) to facilitate bilateral trade ties.

DCCI president Mohammad Shahjahan Khan and JETRO Dhaka Representative Kei Kawano signed the MoU on behalf of their respective sides.

DCCI and JETRO will provide relevant market information and support government to formulate more business-friendly policies.

JETRO representative Kei Kawano said JETRO was closely working with Bangladesh to strengthen bilateral relations between Bangladesh and Japan.

He hoped the MoU signed between DCCI and JETRO would have a positive effect on Bangladesh’s economy. He said Bangladesh was a good investment destination and Japanese investors were keen to invest in this country.

Senior Research Fellow of JETRO, Bangkok, Hirotoshi Ito and Director and Industry Researcher of JETRO, New Delhi, and Special Adviser to the Ministry of Economy, Trade and Industry, Japan, Ichiro Abe presented two different keynote papers.

They highlighted the importance of regional economic integration.

They observed that eighty per cent of Japanese companies operating in Bangladesh were planning to expand their business activities in the country. DCCI vice president Kh. Shahidul Islam gave the vote of thanks.

DCCI directors Haider Ahmed Khan, FCA, Humayun Rashid, Muktar Hossain Chowdhury, S Rumi Saifullah, Md. Iftekharuddin (Naushad), Hossain A Sikder, Alhaj Abdus Salam, Md. Shoaib Choudhury and A.K.D. Khair Mohammad Khan, former senior vice presidents Ashraf Ibne Noor, MS Shekil Chowdhury, convener MS Siddiqui, among others, were present at the programme.

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Source: Financial Express

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