I have never faced such colossal contradictions while penning an opinion. Sorry to admit, I have been a regular smoker for nearly two decades. Despite the long list of disadvantages, I still smoke. And I smoke because until something extremely dangerous happen, I will not quit. On that note, I am a typical Bangladeshi. It usually takes an earth-shaking blow to bring about new changes in this country, but in my case I would like to quit smoking before suffering a massive cardiac arrest or a stroke.
However, let's come to the point. Japan Tobacco Inc., one of the five largest tobacco companies in the world has been reported to have acquired the local Akij Group's tobacco business for $1.47 billion (about Tk 12,430 crore). Indisputably, it is the biggest ever single foreign direct investment in the history of Bangladesh.
The burning question here, is it good or a bad deal?
As far as foreign direct investment is concerned, it is good but when it involves the national health issue, it becomes difficult to comment on.
Sitting on the fence, this writer would say, if the Japanese investment solely aims to grow tobacco and manufacture cigarettes here for an international market, this writer has no problem. But if the market is here with a target audience of self-destructive tobacco consumers like me, there is no point congratulating the Japanese investor.
Needs be mentioned, since his school days this writer came to learn that Bangladesh was the eighth largest population in the world. Bangladesh is also the eighth largest cigarette market in the world - with volumes exceeding 86 billion units and growing by about 2 percent year-on year. The similar eighth position - what a quirk of fate!
Whatever, what's more important money or health?
For non-smokers it will be money without smoking, but for the smokers it's both money plus smoking.
The biggest problem here - how to deal with this visible contradictions? On one hand the country should continue to lure direct foreign investments while on the other smoking must be discouraged at all spheres. Those of us who had picked up the habit out of sheer thrill, now finds it difficult to quit.
Since this writer cannot offer a direct answer in this regard, readers will have to choose their respective opinions.
The investor, president and also the chief executive of the Japan Tobacco International has been quoted in our media that "Bangladesh is one of the fastest growing economies in the world with a pro-business mindset, which is why we are keen to expand our presence in the country".
Then why not assemble Toyota cars in Bangladesh, since our labour cost is one of the cheapest in the world. Our workers are believed to be one of the best in acquiring technical skills quickly. Mitsubishi has been producing some 500 pieces of Mitsubishi Pajero Sport in collaboration with Pragoti. The local PHP group is assembling Proton cars since last year.
In terms of saving shipment and assembling cost, Japan can well cover all the SAARC countries if the Toyotas are shipped from here. Why invest more than a $ billion in the tobacco industry?
The high-up of the Japan Tobacco International has further added "With our strong track record of integration, we can accelerate operational efficiencies and introduce some of our global flagship brands alongside Akij's well-established portfolio". No question about Japan's industrial and manufacturing efficiencies, but it will be somehow difficult for this writer to shift from his preferred Swiss made red Marlboro cigarettes smuggled-out from our airport's duty-free shops.
Whatsoever, a question must be asked regarding business strategies and profit margins.
Is the 'pro - business mindset all? ' Isn't there a highly potential consumer market in Bangladesh? Most importantly, following the largest single foreign direct investment, our international ranking in tobacco consumption may well improve. (Meaning our current ranking may drop to number 7 or 6 within a year)
Nevertheless, this smoker is not the only victim to have been suffering from a contradictory lifestyle. There are millions scattered here and there. Ask them about alcohol, most of them would say it is 'Haram'. Offer them a peg for free at a cosy and dimly lit bar after dark - at least 51% would consume it without a second thought.
This writer's intention is not to purely condemn Japanese investment.
Rather it is about offering an opportunity for our soul-searching. Ask ourselves, which could be the relatively non-harming potential sectors for attracting foreign money.
However, the key beneficiaries of the largest foreign direct investment in Bangladesh will be the local Akij group (thanks to its questionable but valuable contribution to our economy), and more than Akij, the Japan Tobacco International. Given the British American Tobacco's presence here - it is about to have a new and a strong Japanese competitor in the market - it will be more than absorbing to follow - which party spreads cancer faster and also which company becomes the top taxpayer in the tobacco sector.
The world has a mysterious love-and-hate relation with tobacco, and Bangladesh is no exception to it. Volumes can be written about the detrimental effects and the human dependency of nicotine. However, the Lucifer hiding within the brownish gold leaves somehow manages to reign supreme against all oppositions. The money surrounding the tobacco business is too tempting to resist, and the magic Lucifer performs with the nicotine is highly addictive. It cleverly maintains a distance from the divine and since the god resides in our hearts, so its primary target has become the lungs.
It's time for a puff eyeing Japanese money.
The writer is the Assistant Editor,The Daily Observer
