A Dedicated Taskforce To Support Japanese Companies Will Be Constituted: PM

"We highly value the Japanese investment," she said adding forty industrial plots in the Export Processing Zone (EPZ) areas were kept reserved exclusively for the Japanese investors. She hoped that Japanese investors would respond positively to the gesture.

Sheikh Hasina was addressing a seminar on Investment and Business Opportunities in Bangladesh at the headquarters of Japan External Trade Organization (JETRO) here.

Bangladesh Prime Minister said it gave her great pleasure to speak before the JETRO leaders with the earnest hope that it would strengthen the existing collaboration between the two countries.

"As leaders of the private sector, you have produced miracles in economic development through exceptional entrepreneurship, hard work and sincerity," she told the JETRO members.

She said, despite many odds, Japanese investors have associated their innovation and human resources with all nations and have been helping the least developed and developing countries over the decades.

Bangladesh is one of those countries which was benefited from Japanese trade, investment and technological cooperation, she added.

Midori Matsushima, state minister of economy, trade and industry of Japan, Koji Takayanagi, committee chairman of the Japan-Bangladesh committee for commercial and economic cooperation, Hiroyuki Ishige, chairman, JETRO also spoke on the occasion.

Later, a memorandum of understanding between Bangladesh Export Processing Zone Authorities (BEPZA) and JETRO was signed on allocating plots for Japanese investors in BEPZA zones.

BEPZA Chairman Major General Habibur Rahman and JETRO Representative K Kawano inked the MoU in the presence of Prime Minister Sheikh Hasina and state minister of economy, trade and industry of Japan Midori Matsushima.

Prime Minister Sheikh Hasina said, Bangladesh possesses great potentials which could be tapped fully with the external assistance.

"Japan, as a good friend, has stepped forward with liberal ODA in our infrastructural and human resources development and in other critical areas including power generation and environmental protection," she added.

Sheikh Hasina said, "In recent years, we are happy to see that Japanese businessmen and tourists are traveling to Bangladesh to seek business and cultural ties."

Leading Japanese business houses have established connections in Bangladesh, she said adding, it is heartening that companies like NTT DOCOMO, KDDI, YKK, UNIQLO, Mitsubishi, Itouchu, Mitsui, SEIYU, MARUBENI are building business with Bangladesh.

She thanked Japanese investors for choosing Bangladesh as one of their next destinations for doing business.

Focusing on Bangladesh's economic progress, she said the country with a GDP of US $ 133 billion, foreign currency reserve of US $ 20 billion and a sound credit rating, is now within the top forty-two economies of the world.

Despite climate change and world economic recession, Bangladesh has maintained a GDP growth rate of over 6 percent during the last five years, she mentioned.

"Our aim is to reach 10 percent by 2017 and go beyond thereafter," she said adding, "our success is due to our resilient people and trusted trade and development partnership with a great country like Japan."

The Prime Minister said, "Other factors contributing to the success is our young and industrious workforce with very competitive and affordable wages, cheaper costs of establishing businesses in South and South East Asian countries, duty free and quota free access to the European Union, Canadian, Australian and Japanese markets."

Sheikh Hasina said, "Moreover, Bangladesh is offering the most liberal investment opportunities in South Asia that allows 100 percent foreign equity with unrestricted exit policy; easy remittance of royalty, repatriation of profits, protection of foreign investment and steady energy prices."

Earlier, the Prime Minister attended a luncheon hosted by Japan Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) in her honour.
-Bangladesh Sangbad Sangstha (BSS)