Bangladesh seeks Japanese investment in joint economic dialogue

Bangladesh on Tuesday invited Japan to invest here, especially in Maheshkhali Economic Zone, assuring them of providing all kinds of cooperation from the government.

The invitation was made at the 5th Japan-Bangladesh public-private joint economic dialogue held online, said a press release of the Prime Minister's Office (PMO).

Principal Secretary to the Prime Minister Tofazzel Hossain Miah led the Bangladesh delegation, while Hirai Hirohide, vice-minister for International Affairs, Ministry of Economy, Trade and Industry led the Japan delegation.

Japan, by turn, was the host country for the economic dialogue, but considering the current global economic condition the dialogue was held online.

Both Bangladesh and Japan discussed future plans in expanding the business of Japanese investors in Bangladesh and expressed satisfaction on the progress made in the activities of the Bangladesh Special Economic Zone in Araihazar upazila of Narayanganj based on a G2G (government to government) model.

The Japanese side made comments on the existing Japanese investment in Bangladesh as well as on the future plan of investment and cooperation in different sectors of Bangladesh on priority basis.

At the same time, they briefed on different measures to be taken by Bangladesh to expand Japanese investment.

Bangladesh assured Japan that it will provide all kinds of cooperation from the government's side to attract and expand Japanese investment in the country, and has informed Japan about the progress in areas that were previously highlighted by Japanese investors.

Japan has expressed satisfaction with the progress of the programs implemented in Bangladesh and has expressed hope that this progress will continue in the future without interruption.

The meeting discussed Prime Minister Sheikh Hasina's visit to Japan in 2014, which marked the beginning of a new horizon of economic relations between the two countries.

In continuation of such development, a decision was made to hold Japan-Bangladesh public-private economic dialogue in order to enhance the economic relationships between the two countries.

The National Board of Revenue chairman, senior secretaries and secretaries of ministries of foreign affairs, commerce, agriculture, livestock and fisheries, the Economic Relations Division, Power Division, Energy and Mineral Resources Division, Prime Minister's Office, executive chairman of Bangladesh Investment Development Authority (Bida), Bangladesh Economic Zones Authority (Beza), Bangladesh Export Processing Zones Authority (Bepza), deputy governor of Bangladesh Bank, Bangladesh ambassador to Japan and director generals of Prime Minister's Office joined the dialogue.

From the private sector, representatives of the FBCCI, the BGMEA and Japan-Bangladesh Chamber of Commerce and Industry were present.

Iwama Kiminori, ambassador of Japan in Dhaka, Kokubu Fumiya, chairman of Japan-Bangladesh Committee for Commercial and Economic Co-operation of Japan Chamber of Commerce and Industries, representatives from Ministry of Foreign Affairs of Japan and other ministries and heads of Bangladesh offices of Jica and Jetro were present in the dialogue.

In the dialogue, secretary, Ministry of Agriculture and director general (Executive Cell and Private EPZ), Prime Minister's Office pointed out the policy support and the incentives provided form the government in Agribusiness and Logistics sector respectively.

Dr FH Ansarey, president, Agribusiness Division of ACI Limited, and Dr M Masrur Reaz, chairman and CEO of Policy Exchange Bangladesh, presented on the immense opportunities of Japanese investment in Bangladesh's agribusiness and logistics.

Both parties concluded the 5th Japan-Bangladesh public-private dialogue, expressing hope that through the upcoming visit of the Bangladesh prime minister to Japan the economic relations between the countries will reach a new height.