Bangladesh, Japan sign six MoUs

Bangladesh and Japan on Friday signed six MoUs on economic, investment and other cooperation on the third day of the ongoing visit of Chief Adviser Muhammad Yunus to Japan.

Yunus witnessed the signing of the MoUs on the sidelines of a seminar titled 'Bangladesh Business Seminar' in Tokyo, his Deputy Press Secretary Abul Kalam Azad Majumder said.

The first MoU involves the Japan Bank for International Cooperation and the Ministry of Energy and Mineral Resources of Bangladesh.

The MoU is expected to strengthen cooperation between JBIC and Bangladesh to realise projects in the energy sector, Azad said.

The second MoU was signed between ONODA Inc and Bangladesh SEZ Ltd for a land lease contract of BSEZ.

ONODA has implemented a gas metre installation project initiated by JICA and plans to conduct new assembly manufacturing, inspection, and maintenance of gas meters at the factory in BSEZ.

The third MoU involves Bangladesh Naxis Co Ltd and Bangladesh SEZ Ltd for a land lease contract of BSEZ.

Bangladesh SEZ Ltd (BSEZ) and Bangladesh Naxis Co. Ltd (Naxis) will sign a land sublease agreement. Naxis plans to manufacture apparel accessories at the factory in BSEZ.

The fourth MoU involved Glagit and Musashi Seimitsu Industry Glafit and the Bangladesh Investment Development Authority (BIDA) on support for setting up a factory for battery-run cycles and an electric motorcycle manufacturing plant.

The fifth MoU involves Cipher Core Co Ltd, which is investing $20 million in its Bangladesh venture to launch a national pilot project for information security based on Complete Cipher Technology by award-winning inventor Takatoshi Nakamura.

The project aims to make Bangladesh a quantum-resilient digital economy, with exclusive rights granted to the local entity for technology deployment and global expansion.

The sixth MoU involves the Japan International Cooperation Agency and BIDA.

This MoU confirms JICA's engagement to provide technical and in-kind support for the early-stage development of the Integrated Single Window Platform (ISWP).

This platform is a BIDA-led effort to consolidate the individual one-stop services currently operated by various investment promotion agencies across Bangladesh.

Speaking at the signing ceremony, Chief Adviser Muhammad Yunus congratulated all parties involved.

"Now it is our task to implement. I am moved," he said.

Mentioning the situation Bangladesh faced in the past 16 years, the chief adviser said that the country faced continuous earthquakes in the past 16 years, which left nothing in shape.

"In this situation, a good friend came up... and that friend is Japan. I came here to thank you and design the next step," he said.

Calling the challenge historical, the chief adviser said, "We want to show the history that it was done, done in a perfect way."

"We have kind of tightened our belt and say here we are to work. With your support, it is doable."

"Let's put our hands together and execute it... It's not about making money. It's about changing people's lives," he said.

Shinji Takeuchi, Parliamentary Vice-Minister of Economy, Trade and Industry (METI), noted at the event that the number of Japanese companies operating in Bangladesh now exceeds 300, three-fourths higher than 10 years ago.

Norihiko Ishiguro, Chairman and CEO, Japan External Trade Organisation (JETRO), delivered the welcome speech, where Fumiya Kokubu, chairman of Japan Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) and Director, Member of the Board, Executive Corporate Advisor, Marubeni Corporation, also spoke.