Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
More companies from Japan will be investing in Bangladesh, if the bottlenecks to investments are removed, a Japanese trade diplomat told newsmen in Dhaka on Wednesday.
Around 50 companies are now arriving in Bangladesh every year with investment proposals, said JETRO Country Representative Yuji Ando.
In case of relocation of Japanese companies’ investments from China due to trade war with the US, he mentioned that countries of the Southeast Asia are getting priority.
Mr Ando, also President of the Japan-Bangladesh Chamber of Commerce, however, pointed out that almost 70 per cent of the Japanese companies, surveyed by Japan’s External Trade Organisation (JETRO) last year, showed interest in expanding investment in Bangladesh.
That ratio is the highest in comparison with their interest in other countries, he added.
Citing the examples of infrastructure deficiency and taxationdifficulties, the JETRO country chief said, “There’re many challenges which still exist for the Japanese companies and for other foreign companies in Bangladesh.”
“It should be a win-win situation,”he maintained.
The Japanese official came up with his observations about the investment climate and issues facing the Japanese companies while exchanging views with some members of Economic Reporters Forum (ERF) at ERF office.
Currently, some 310 Japanese companies are working in Bangladesh with their investment reaching $3.0billion, he said adding that some companies want to make investmentsin the area of consumer goods.
The JETRO Bangladesh chief also expressed his willingness to work with the ERF members to help improve the investment climate in the country.
ERF President Saiful Islam Dilal, Secretary SM Rashedul Islam, AFP bureau chief M ShafiqulAlam, former Reuters bureau chief Sirajul Islam Quadir and other executive committee members of ERF were present.
Media Professional Group Chief Executive Officer Somor Roy was also there.