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Japan, BD both for strengthening partnership

06 September,2014

RTNN News Desk : Prime Minister Sheikh Hasina on Saturday urged the Japanese businessmen to come up with more investment, especially in high-tech manufacturing, in Bangladesh as the country offers highest opportunities for foreign investors.

"We, specifically, expect Japanese investment in high-tech manufacturing like automobiles and microprocessors. We’ve also adopted Public Private Partnership (PPP) policy for building infrastructure projects," she said addressing a Japanese business delegation at her office (PMO).

On the other hand, the visiting Japanese Prime Minister Shinzo Abe addressing the closing ceremony of Bangladesh-Japan Business Forum at the city’s Sonargaon Hotel stressed further improvement in Bangladesh’s investment environment to get increased Japanese investment.

“For the promotion of investment from Japan, I would like to ask the further improvement of investment environment reflecting the voices of Japanese cooperation,” Abe said.

Hasina said Bangladesh is working towards the establishment of an exclusive economic zone for the Japanese investors. "We have investment potentials in sectors like textiles, leather, petrochemicals, pharmaceuticals, shipbuilding, agro-based industries, light engineering and electronics, telecommunications and IT," she said.

In her recent Japan visit, Hasina with her Japanese counterpart Shinzo Abe decided to carry forward the ‘Comprehensive Partnership’ between Bangladesh and Japan.

This partnership is aimed at encompassing wide-ranging economic cooperation among other things, while the private sector is likely to play a key role in this effort.

The Japanese Prime Minister in his meeting also mentioned about US$ 6-billion dollar economic cooperation to Bangladesh over the next 4-5 years, including US$ 1.2 billion that has been provided (committed) in May this year.

Abe also talked about the Bay of Bengal Industrial Growth Belt (BIG-B) initiative proposed in the May summit meeting with Bangladesh Prime Minister Sheikh Hasina.

He said Japan wants to cooperate under the initiative for the economic development of Bangladesh and infrastructure improvement to promote industry and achieve a better investment environment.

The Japanese Prime Minister laid emphasis on three major areas of infrastructure improvement, stable supply of power and energy, urban development, especially development of an economic zone and private sect development.

“I hope in these areas Japanese technologies will be used. By doing so, I’m convinced this will bring mutual benefit for the two countries.

About Matarbari coal-fired power plant, Abe said they have already provided US$ 400 million of ODA loan for the construction of highly efficient power plant. “This is one of the flagships cooperation between the two countries.”

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