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Japan plans to invest bigger in Bangladesh


Bangladeshpost
Published : 07 Oct 2020 08:38 PM

Around 50 Japanese companies are expected to arrive in Bangladesh every year with investment plan due to getting favorable environment. But the environment of the investment needs further congenial and friendly atmosphere.

Country representative of Japan External Trade Organization(JETRO) Yuji Ando said on Wednesday while exchanging views with some executive committee members of Economic Reporters Forum (ERF) at the ERF office in Dhaka.

Also President of Japan-Bangladesh Chamber of Commerce Ando requested the government to improve investment climate in the country in favor of Japanese companies.

He said 310 Japanese companies are now in Bangladesh and Japan investment is around US $ 3.0 billion.

Highlighting the friendly relationship with Bangladesh, the JETRO chief said collaboration with ERF and JETRO can help improve investment climate for the investors and expressed his willingness to work in this connection with the ERF.

Yuji Ando said there are many challenges still exist for Japanese companies and other foreign companies in Bangladesh citing examples of infrastructure and taxation. 

Referring to a question on relocation of Japanese companies from China, the JETRO Country representative said it is practically not like it has been reported due to scope of business in China.

He, however, said there is still scope of coming of Japanese companies though ASEAN countries are getting priority in the case of relocation.

Citing example of JETRO annual study, Yuji Ando said 70 per cent Japanese companies here want to expand their investment which is highest among other countries. He termed the relationship between investors andthe targeted country as husband and wife. The relationship of husband and wife will be cemented when there is good relationship and trust. He mentioned a number of bottlenecks in the way of smooth investment, but heexpressed his willingness to invest further. `It should be a win-win situation’ he said.

ERF President Saiful Islam Dilal, General  Secretary S M Rashidul Islam, AFP bureau chief M ShafiqulAlam, former Reuters Bureau Chief Serajul Islam Quadir and other EC members also spoke. Media Professional Group Chief Executive Officer Somor Roy was also there.