Japanese investors plan to expand investments in Bangladesh: JETRO

Around 50 Japanese companies are expected to arrive in Bangladesh every year with investment plans due to the favourable investment environment in the country, said Japan External Trade Organisation country representative Yuji Ando.

He also said that the investment environment needed to be further congenial alongside having a friendly atmosphere. The JETRO country representative said this on Tuesday while exchanging views with some executive committee members of the Economic Reporters Forum at the ERF office in the capital.

Ando, also the president of Japan-Bangladesh Chamber of Commerce, requested the government to improve the investment climate in the country in favour of Japanese companies.

He said that some 310 Japanese companies were now in Bangladesh with Japanese investment reaching around $3 billion.

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

Yuji Ando said that many challenges still existed for Japanese companies and for 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 that it was practically not like what had been reported due to the scope of business in China.

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

Citing the example of JETRO annual study, Ando said that 70 per cent of Japanese companies here wanted to expand their investment which was the highest among other countries.

Mentioning that there were a number of bottlenecks in the way of smooth investment, Ando expressed his willingness to invest further.

‘It should be a win-win situation’ he said.

ERF president Saiful Islam Dilal, general secretary SM Rashidul Islam, AFP bureau chief M Shafiqul Alam, former Reuters bureau chief Serajul Islam Quadir and EFR executive committee members also spoke. Media Professional Group chief executive officer Somor Roy was also there.