PM Urges Japanese Businessmen To Invest More In Bangladesh

"Specifically, we expect Japanese investment in high-tech manufacturing like automobiles and microprocessors. We have also adopted Public Private Partnership (PPP) policy for building infrastructure projects," she said while addressing the Japanese business delegation at her office.

Sheikh Hasina said that Bangladesh is working towards the establishment of an Exclusive Economic Zone only for Japanese investors.

"We have investment potentials in the sectors like textiles, leather, petrochemicals, pharmaceuticals, shipbuilding, agro-based industries, light engineering and electronics, telecommunications and IT," she said.

In this connection, the Prime Minister said that the Joint Bangladesh-Japan Public Private Economic Dialogue which has just concluded its first meeting in Dhaka has suggested various measures to facilitate Japanese investment in Bangladesh.

"I am confident that the Japanese industrialists would come forward to take full advantage of our prevailing investment opportunities."

Recalling her recent visit to Japan, she said that during talks with Prime Minister Shinzo Abe, they had decided to carry forward the Comprehensive Partnership between the two countries.

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

She thanked the business delegates for considering Bangladesh as their next possible destination for extensive investment and business.

Sheikh Hasina mentioned that within the framework of a market economy, Bangladesh stands amongst the first forty-four economies in the world, both in terms of size of GDP and foreign currency reserve.

"With about 160 million people and a rapidly growing middle class, there is an increasing domestic demand for consumer goods and services," she said.

In this connection, the Prime Minister said that Bangladesh offers a young, industrious workforce with comparatively lower wages. It has proven export competitiveness by offering most competitive fiscal and non-fiscal investment incentives and the most liberal FDI regime in South Asia.

"Foreign investment in Bangladesh is secured by law, which also ensures no discrimination between local and foreign investors."

She also said that Bangladesh encourages private sector investors from Japan to visit Bangladesh and be acquainted with the investment opportunities here.

"Let us work together towards peaceful, progressive and prosperous economies to fulfill the aspirations of the peoples of our two great Asian nations," Sheikh Hasina said.

Earlier, the Japanese Prime Minister Shinzo Abe introduced the business delegation.

He also gave a short introductory remark followed by brief remarks of the 10 Japanese business leaders.

-Bangladesh Sangbad Sangstha (BSS)