Japanese cos eye business expansion

Around 50 Japanese companies are expected to arrive in Bangladesh every year with their investment plan, Country Representative of Japan External Trade Organisation (JETRO) Yuji Ando said on Wednesday in Dhaka.
"Seventy per cent of Japanese companies surveyed by JETRO under its annual programme last year showed interest in expanding investment in Bangladesh. The rate is the highest among other countries surveyed," he said while exchanging views with some executive committee members of Economic Reporters Forum (ERF) at the ERF office on Wednesday.
Mr Ando, also president of Japan-Bangladesh Chamber of Commerce and Industry, stressed the need for improving the investment climate in favour of Japanese companies in Bangladesh. He particularly focused on a number of investment issues, including infrastructure and taxation.
Some 310 Japanese companies are now working in Bangladesh having an investment worth around US$ 3.0 billion, he said, adding that many want to make investment in consumer goods production.
The JETRO chief said Japanese and other foreign companies are still facing many challenges in Bangladesh which need to be addressed.
Referring to the issue of relocation of Japanese companies from China, Yuji Ando said relocation is not happening the way it is being reported as the opportunities for doing business in China are still there.
He, however, said there exists scope of relocating businesses in Bangladesh from China, but ASEAN countries are getting priority in this case.
The JETRO chief also expressed his willingness to work in collaboration with ERF for improving the investment climate in the country.
ERF president Saiful Islam Dilal, secretary Rashedul Islam, AFP bureau chief M Shafiqul Alam, former Reuters bureau chief Sirajul Islam Quadir and chief executive officer of Media Professional Group Somor Roy were present, among others.

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