Japan suggests improving governance for investment

FE Report | Published: August 22, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Members of a visiting Japanese team at a 'Japan-Bangladesh Public-Private Economic Dialogue' in a city hotel laid emphasis on Thursday on improving the country's physical and social infrastructure to receive more Japanese investments.
Japan's investment in China has dropped by 45.4 per cent to $2.83 billion in the first seven months.
Tokyo is now trying to find new investment destinations in the Asian region, business leader Salahuddin Kashem Khan told the meeting making a strong case for more Japanese investment in Bangladesh.
The team, led by Norihiko Ishiguro, Vice Minister in the Japan's Ministry of Trade, Economy and Industries (METI), is visiting Dhaka prior to the scheduled visit of Japanese Prime Minister Shinzo Abe here early next month.
The Japanese team told the business leaders at the dialogue arranged under the auspices of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) that Japan is ready to bring in more investments in this country.
But it must create the necessary environment that includes improvement in quality of governance, hospitality services, upgraded tariff system, roads, ports, highways and energy supply.
Availability of land and special zone, simplification of regulations and supply of skilled workforce are also some other issues that need to solved.
They wanted to know about the socio-political stability.
President of the Bangladesh Federation of Chambers of Commerce and Industry (FBCCI) Akram Uddin Ahmed led the Bangladesh side at the talks.
Special Adviser to the Japanese Commerce and Industry Association in Dhaka Abdul Haque told the FE after the meeting that Japan is looking for relocating investment in this region. Japan is working on a 'China plus' agenda which aims at relocating investment to Bangladesh, Cambodia, Vietnam, Indonesia, the Philippines, Myanmar and India.
He said there are many competitors but Bangladeshi business leaders have told the Japanese delegation that Bangladesh needs Japanese investment most to accelerate the country's economic growth and industrialisation.
The Japanese team also included representatives of leading corporate houses.
"With more Japanese investment coming, the country will be able to join supply chain of the Asia-Pacific region and it means a lot towards integrating the country's economy to East Asian economies," he said.
JBCCI Vice President Salahuddin Kashem Khan told the FE that the plunge in Japan's investment in China has placed other Asian countries prominently in the map of Japanese investment.
Referring to the Japanese Prime Minister's idea of developing the Bay of Bengal Growth Triangle conveyed to Prime Minister Sheikh Hasina during her visit to Japan
in June this year, Khan said his forthcoming visit will bear fruit in this regard.
He said Bangladesh lies at the centre of the Bay of Bengal Triangle.
"With the SAARC member-states including India on the west, China to the north and ASEAN plus 3 to the east, the region could be a Mega Asian Growth Triangle with the backing of Japanese investment," he said.