Amu seeks more Japanese investment to boost country\\\'s GDP

Industries minister Amir Hossain Amu Wednesday sought more Japanese investment in Bangladesh to boost the country's present GDP growth rate of 6.0 per cent to achieve the goal of becoming a middle income country by 2021.
He made the appeal as the chief guest at the signing ceremony of a Memorandum of Understanding (MoU) between Board of Investment (BoI), Bangla-desh and The Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), Japan at a city hotel with an aim to promote foreign direct investment in Bangladesh by the Japanese companies.  
"With 6.0 per cent GDP growth rate over the last few years, Bangladesh is on the threshold of becoming an economic powerhouse in the region," said the minister.
"We need to do more and here we need cooperation from our Asian neighbours, particularly the Japan," said Mr Amu, adding we are giving more thrust on the establishment of knowledge based hi-tech green industries.
"In order to materialise our dream of becoming a middle-income country by 2021, we have been pursuing a liberal investment and industrial policy for foreign investors with attractive incentive package.
BoI Executive Member Nabhash Chandra Mandal and Bank of Tokyo-Mitsubishi UFJ, Managing Executive Officer and Chief Executive Officer for Asia and Oceania Mr Go Watanabe signed the MoU on behalf of their respective organisations.  
Bangladesh Bank (BB) governor Atiur Rahman, Nabhash Chandra Mandal,  JICA Chief Representative Mr Mikio Hataeda, Japanese Charge d'Affaires Mr Takeshi Matsunaga, FBCCI President Kazi Akramuddin Ahmed, Bank of Tokyo-Mitsubishi UFJ Managing Executive Officer and Chief Executive Officer  for Asia and Oceania Go Watanabe spoke on the occasion.
Board of Investment Executive Chairman SA Samad chaired the programme.
Mr Amu said the bilateral trade of Bangladesh and Japan is showing an upward trend. "We must make all out efforts to increase our bilateral trade & investment and encourage more interactions between the business communities of the two countries.
"I consider this signing ceremony as a milestone of cooperation between Bangladesh and Japan, after the fruitful visit of Prime Minister of Japan Mr Shinz? Abe to Bangladesh in September this year," he added.
In his speech as special guest Atiur Rahman said that this is for the first time BOI has been signing an MOU with an international financial institution.
He said despite a very good diplomatic relation between Bangladesh and Japan, growth of trade and investment relationships between the businesses of these countries have remained sluggish and far below the potential.
Japanese FDI inflows into Bangladesh remain small, below USD 100 million in 2013 even after more than trebling from the preceding year's figure and until September 2014 Japan has only 6.87 per cent of total FDI inflows in Bangladesh, Atiur Rahman added.
"I am sure this small step will pave the way for attracting many more Japanese corporates to come to Bangladesh for long term investment," the governor said.
The BB governor also said Bangladesh economy is the most stable one in the Asia Pacific Region. "No doubt for this, FDI including that from Japan has already started flowing to Bangladesh."
He also said the macroeconomic stability of Bangladesh is well reflected in prospective indicators like the consistent six plus growth rate, falling inflation, rising export and import, increasing foreign exchange reserve and stable exchange rate.
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