Khandaker Abdul Muktadir, minister for commerce, industries, and textiles and jute, has stressed making use of new opportunities for industrialisation, technology transfer and job creation through the expansion of Japanese investment in Bangladesh.
He said the government is working to make doing business easier, remove administrative complications and ensure an investment-friendly environment in order to attract foreign investment. The government will provide the policy and institutional support needed to strengthen the economic partnership with Japan further.
He was speaking on Sunday at the commerce ministry in the Secretariat at a meeting with a delegation led by Masayuki Omoto, president and chief executive officer (CEO) of the Japanese multinational Marubeni Corporation. At the meeting Marubeni expressed interest in investing in new industrial sectors as well as expanding its existing investment in Bangladesh. Industries Secretary Abdun Naser Khan was present.
The bilateral meeting discussed in detail proposals on fertiliser production, information technology, energy, the ship recycling industry and the manufacture of Japan’s Toyota-brand cars. Progress on signing and implementing the Bangladesh-Japan comprehensive economic partnership agreement (CEPA), diversification of the jute industry and the prospects for expanding bilateral trade and investment were also given importance.
The commerce minister said Japan’s technology, experience and investment can play an important part in developing Bangladesh’s manufacturing industry. There is scope to expand joint ventures in shipbuilding and recycling, automobiles, agro-based industry and high-technology sectors in particular. The government is taking forward the reforms needed to make investment in these sectors easier, he said.
He added that the jute industry is being moved beyond conventional goods towards high-value diversified products. Importance is being given to making new products by blending jute fibre with cotton, viscose and polyester, to developing improved seed and to expanding research. The government wants to use the opportunities for international technical cooperation and investment in this field.
At the meeting Masayuki Omoto set out the company’s long business involvement in Bangladesh and mentioned the prospects for modernising Kafco, using natural gas efficiently and raising fertiliser production capacity. He also expressed interest in new investment and technical cooperation in producing DAP and TSP fertiliser.
Setting out Bangladesh’s potential in information technology, the Marubeni chief executive said hundreds of Bangladeshi engineers at BJIT, which is run with joint investment, are serving the international market, including Japan. There is scope to expand this cooperation in artificial intelligence and IT offshoring.
The meeting also discussed environmentally sound modern technology and investment in ship recycling, the proposal to manufacture Toyota cars and uninterrupted power supply to the economic zones. The potential of small modular reactor (SMR) technology as a possible alternative for long-term energy security also came up.
The commerce minister gave an assurance that the government attaches the highest importance to simplifying company registration, trade licences and investment approvals, and to ensuring that foreign investors can repatriate profits and capital. Any Japanese company interested in expanding investment in Bangladesh will be given every kind of support it needs, he said.
Both sides agreed on deepening Bangladesh-Japan economic relations, making use of the possible benefits of the CEPA and expanding long-term partnership in industry and technology.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report