Japanese investors likely to be given 8,000-acre SEZ in Ctg

The government will provide lands for setting up special economic zone (SEZ) for Japanese investors aiming to boost bilateral trade between the two countries.  
 "We will provide lands for setting up SEZ for Japanese investors that will help boost trade and investment between the two countries," Commerce Minister Tofail Ahmed told the media after meeting a Japanese delegation at his Secretariat office Thursday.
Vice-Minister of the Ministry of Economy, Trade and Industry (METI) of Japan Norihiko Ishiguro led the delegation.  
He hinted that eight thousand acres of lands in Mirsarai in Chittagong might be offered to the Japanese investors.
Earlier the government decided to allocate lands for the Japanese investors as entrepreneurs of the world's third largest economy have expressed to invest in Bangladesh considering cheap labour force and the prevailing investment-friendly atmosphere.   
The Commerce Minister said the government will build SEZs at eight places following immense interest by the foreign investors, especially the Japanese and the Chinese.
Prime Minister Sheikh Hasina visited Japan in May last to gear up bilateral trade, investment and cooperation between the two countries.
Terming Japan as a 'tested and vital development partner' for the country's development, the Commerce Minister said the Japanese investors could set up automobile and other industries in the SEZ.     
The meeting between the Commerce Minister and the Japanese Vice-Minister was seen as 'important' as the Prime Minister of Japan will visit Bangladesh in the first week of September.
 "Different bilateral issues will be discussed during the upcoming meeting between the Prime Ministers of Bangladesh and Japan," he said.
He said the government will do everything to attract more Japanese investment as Japan has done a lot so far for the development of the country.
Asked about the possible site for SEZ for Japanese investors, he said, "We will build SEZs in eight places of the country. We have eight thousand acres of lands at Mirsarai in Chittgaong that may be offered to them (Japanese investors)".     
Mr Tofail said apart from Japan, the government will also give lands for building SEZ for Chinese investors.
 "Japan is helping us in our development efforts. They helped us a lot. We will give the required facilities for the Japanese investors here," he said.     
He said during the meeting, the Japanese delegation has also expressed to cooperate for leather sector development of the country.
The Commerce Minister said the upcoming bilateral meeting between the two PMs of the two countries will discuss about the SEZ for Japanese investors.  
He said the Sixth Five-Year Plan of the government laid emphasis on increasing export and in this case Japan is important.
Japan has allowed duty-free market access of readymade garments (RMG) from Bangladesh. Japan needs RMG items worth US $35 billion annually, and 50 per cent of the total demand is being fulfilled through import, mainly from China.
Bangladesh has the opportunity to grab a significant share of the market that could help the country to fetch $7-8 billion by increasing export of RMG to Japan.  Bangladesh also exports leather goods to Japan.