Japan turns investment spotlight on Bangladesh as market surges

CHATTOGRAM, Sept 8: Japanese investors are increasingly eyeing Bangladesh as the country’s expanding domestic market, strategic location and growing industrial base open up fresh opportunities for foreign capital.

More than 350 Japanese companies are already operating and investing in Bangladesh, while a growing number of potential investors are exploring opportunities in the country, said Kazuiki Kataoka, country representative of the Japan External Trade Organization (JETRO) in Bangladesh.

“The Bangladesh market is increasing day by day, and more potential investors are showing interest in investing here,” Kataoka said while exchanging views with business leaders at the World Trade Center in Agrabad, Chattogram, on Monday.

He said Japanese companies already operating in Bangladesh are also using the country as a base for exports to third markets, creating scope for further investment as Bangladesh’s market and production capacity expand.

Japan is investing in a range of development projects in Bangladesh and remains interested in working with both the government and private sector to deepen bilateral economic ties, Kataoka said.

Japanese companies are particularly interested in Chattogram, including investment opportunities in the energy sector, alongside the Japanese Economic Zone at Araihazar in Narayanganj.

Kataoka said implementation of an Economic Partnership Agreement (EPA) between Bangladesh and Japan could provide Bangladesh with significant advantages in investment and bilateral trade by creating a more favourable framework for Japanese businesses.

Chattogram Chamber President Mohammad Amirul Haque said Bangladesh offered “endless potential”, particularly because of Chattogram’s strategic geographical position.

He said the port city could emerge as Bangladesh’s premier investment and logistics hub, with the private sector working alongside the government to unlock its economic potential.

Amirul Haque urged JETRO to encourage greater Japanese investment in renewable energy and liquefied natural gas (LNG) projects, alongside other major development initiatives.

Business leaders at the meeting also called for increased Japanese imports of Bangladeshi ready-made garments and greater Japanese investment in renewable energy, solar batteries, light engineering, small and medium-sized enterprises (SMEs) and human-resource development.

Former chamber president Engineer Ali Ahmed presided over the meeting.

Chamber Senior Vice President Md Amjad Hossain Chowdhury, directors Abu Haider Chowdhury (Amjad), Md Afsar Hasan Chowdhury (Jasim), Mohammad Nurul Islam, Shahidul Alam and Md Selim Noor, former Bangladesh House Building Finance Corporation chairman Professor Dr Md Selim Uddin and Chittagong University Faculty of Commerce dean Dr Saleh Zahur, among others, attended the event.