Japan, Bangladesh working to dev business climate, attract more FDI

Published : 10 Sep 2023 11:16 PM | Updated : 11 Sep 2023 04:53 PM
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Experts at a networking session on Sunday observed that the governments of Japan and Bangladesh have been working together to create a favorable business environment and attract more Japanese investment.

They said Bangladesh-Japan economic partnership has reached a new height with Japan being the largest bilateral development partner of Bangladesh.

Japan Bangladesh Chamber of Commerce and Industries (JBCCI) organised the session titled "12th Networking Program" held at the Lakeview Hotel, Gulshan in the capital. 

Ambassador of Japan to Bangladesh IWAMA Kiminori was present in the networking session as the chief guest while Myungho Lee, President, JBCCI delivered address of welcome. 

AB Bank Chairman Khairul Alam Chowdhury, JBCCI Executive Director Md. Emran Ahmed and JBCCI Secretary General, Anwar Shahid also spoke on the occasion among others.  

Recently, during Prime Minister Sheikh Hasina's visit to Japan, the two countries have signed 8 agreements.

Ifty Islam, Chairman, Asian Tiger Capital Partners presented  the keynote paper titled "Strengthening Ties: The Next Phase of Economic Partnership between Bangladesh and Japan". 

In the keynote he mentioned that Japan is the most effective player in its “Geo Economic” strategy in Asia as the least controversial and most trusted partner. Geo-economic strategy or the deployment of economic instruments to secure foreign policy aims and exercise power, has been a key element in many countries’ statecraft even before political theorists coined the term.

The keynote also said the geo-economics, however, has returned as a major theme with the advent of China’s signature Belt Road Initiative (BRI) whereby geopolitical and economic interests are driven by massive state-financed infrastructure projects.

Speakers also opined that Bangladesh need to improve negotiation with Japan to get preferential trade facility after LDC graduation, also to remove costraints such as Tax and Tariff regime, investment policy, business regulations and access to long term finance.  

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