Japan seeks assurance on projects, Salehuddin confirms continuation

Japan has received assurances from Finance and Commerce Advisor Salehuddin Ahmed that all ongoing projects, initiated during the Awami League government, will continue under the interim administration.

A delegation led by Japanese Ambassador Iwama Kiminori met Salehuddin at the Secretariat in Dhaka on Monday to discuss Bangladesh’s changing political landscape.

“They sought assurances that the ongoing projects would continue. I assured them that every project would proceed as planned,” Salehuddin said after the meeting.

Japan has been involved in several major projects initiated by the Awami League government, including the Dhaka Metro Rail, the Matarbari Power Plant, and the seaport in Cox’s Bazar.

About 350 Japanese companies operate in Bangladesh, with investments exceeding $380 million.

Their presence has quadrupled over the past decade under the previous government.

The advisor also said Japan responded positively to the request for additional budget support to address the country’s economic crisis.

“We have received a very positive assurance from Japan. There is no doubt about this. They are considering future projects with us. The Japanese representatives said, ‘We are very pleased with you, but stability needs to be restored.’ I assured them that stability is already returning.”

Salehuddin said he had requested additional budget support from Japan and the expedited release of funds for ongoing projects.

He also asked for increased allocations for Bangladeshi students in Japan.

“They said ‘we have a global context to consider, but we will convey this message to our higher authorities’.”

The Japanese delegation also inquired about the interim government’s steps towards financial sector reforms.

They asked about reforms in the banking sector, National Board of Revenue, or NBR, and customs, Salehuddin said.

“They want these institutions reformed to improve the business environment. I told them that immediate reforms are necessary.”

Salehuddin also sought Japan’s assistance in expanding technical education.

“Japan is highly skilled in technical education and has been supportive of this area,” he said.

“We also asked for more foreign investment, which is crucial for boosting our reserves. They responded positively,” said the former head of the country’s financial sector regulator.

The finance advisor said Japan is “pleased” with the interim government’s reform efforts.