Japan urged to relocate hi-tech industries to Bangladesh

FE Report Industries Minister Dilip Barua has urged the Japanese government to transfer technologies and relocate its hi-tech industries to Bangladesh to help boost her economy. "Japanese entrepreneurs can invest in the country's energy and power sector," he said while Japanese Ambassador in Dhaka Shiro Sadoshima met him at his office Thursday. Japan is Bangladesh's best friend and also on top of list in terms of aids and grants to the country, he said seeking its continuous support. "The government is providing logistic support for making the country's private sector vibrant," Mr Barua said. "People of Bangladesh are creative in nature and the country has many experienced engineers," Mr Sadoshima said. Bangladesh is one of the most potential countries in Asia for economic development, he said emphasising on proper utilisation of foreign direct investment and private sector investment for the better outcome. Industries Secretary KH Masud Siddiqui, Additional Secretary ABM Khorshed Alam and First Secretary of Japan Embassy in Dhaka Yasuharu Shinto, among others were present. Meanwhile, FBCCI President AK Azad Thursday urged a Japanese delegation led by its envoy to Dhaka to invest in infrastructural sector including road, rail, port, construction, power generation and agriculture. The FBCCI chief came up with the call when newly appointed Ambassador of Japan to Bangladesh Shiro Sadoshima called on him at the FBCCI office in the city. The envoy emphasised the importance of mutual interaction between the two friendly countries. Among others, First Vice-President of FBCCI Md Jashim Uddin, Vice-President of FBCCI Mostofa Azad Chowdhury Babu, Directors of FBCCI Abdul Haque, Obaidur Rahman, Md Helal Uddin, Md Jalaluddin Ahmed (Yeamin), First Secretary (Economic & Development Assistance), Embassy of Japan in Bangladesh Yasuharu Shinto and Md Enamul Houqe, Secretary (Int) of FBCCI were present at the meeting. AK Azad congratulated the Japanese Ambassador to Bangladesh and assured him of all sorts of cooperation. He said Japan is one of Bangladesh's leading partners in economic development. Trade between Japan and Bangladesh is increasing quite satisfactorily, he added. In 2010-2011, Bangladesh's export to Japan was worth US$ 434.12 million and import from Japan was worth $ 1309.14 million and the trade balance was against Bangladesh. The FBCCI president urged Japan to explore business opportunities in road, expressways, metro rail projects, deep seaport, airport construction, power generation, tourism as well as agriculture. He also stressed the need for further deepening the political contacts. As of April 2011, the proposed foreign and joint venture investment to Bangladesh from Japan stood at $ 13.18 million and the actual investment from Japan as of 2009 was $ 17.47 million. These investments were in various sectors which include telecommunication, textiles, infrastructure projects etc. Md Jashim Uddin requested the Japanese Ambassador to set up an exclusive Japanese export processing zone (EPZ) in Bangladesh. He also urged the ambassador to invest more in infrastructure development under public-private partnership (PPP). Mr Sadoshima appreciated the economic growth of Bangladesh and mentioned that there are a lot of areas where Japan may invest specially in infrastructure development, information and telecommunications technology (ICT), energy and logistics etc. Both sides stressed the need for enhancing bilateral trade and economic ties between the two countries.