Prime Minister seeks Japanese investment in 5 sectors of Bangladesh

Bangla Press Desk: Prime Minister Tareq Rahman has invited Japanese companies to invest in five priority sectors in Bangladesh: automobile manufacturing; energy; technology and space cooperation; rail and logistics; and the processing and production of agricultural products.

He made this call on Wednesday (October 28) while delivering the keynote address at the Bangladesh-Japan Economic Forum dialogue, held at the Japan External Trade Organization (JETRO) headquarters in Tokyo.

The Prime Minister stated, "Currently, approximately 350 Japanese companies are operating in Bangladesh. However, the volume of Japanese direct investment in the country remains below 500 million US dollars. In the last fiscal year, Bangladesh’s exports to Japan amounted to 1.36 billion dollars, while imports from Japan totaled 2.16 billion dollars."

Tareq Rahman noted, "The government has welcomed Toyota’s plan to commence full-scale production at an automobile manufacturing plant in Bangladesh by 2029," and assured the company of the government's full support for this initiative.

In the energy sector, the Prime Minister encouraged Japanese investment in liquefied natural gas (LNG) infrastructure, gas-based power generation, and renewable energy. He also outlined a proposal to establish a Bangladesh-Japan Technology Park, focusing on artificial intelligence, cloud computing, robotics, and electronics manufacturing.

Regarding the rail and transport sector, Tareq Rahman shared plans to develop a nationwide high-speed rail network, connecting major cities including Dhaka, Chittagong, Sylhet, Rajshahi, Khulna, and Barishal.

Inviting Japanese companies to invest in the processing of agricultural products, he added, "Industrial facilities are being established in the Bangladesh Special Economic Zone in Araihazar, adhering to Japanese standards." Sumitomo Corporation is working on the development of the region.

The Prime Minister further stated, "The government is working to address the concerns of Japanese investors regarding uninterrupted energy supply, improved infrastructure, tariff concessions, and predictability in the tax regime."

Highlighting the long-standing friendly relations between the two nations, she remarked, "Japan plays a significant role as a development partner for Bangladesh. Moving beyond the scope of mere development cooperation, Bangladesh now seeks to further strengthen its trade and investment ties with Japan for the next 30 to 50 years."

Bp/Sp