Bangladesh and Japanese business leaders on Saturday highlighted potential business and investment areas in a move to take the bilateral relations to the next level.
At the Bangladesh-Japan Business Forum held at a city hotel, Bangladesh side favoured Japanese investments in infrastructure development and ship building, while corporate captains of Japan showed interest in safe drinking water, food, textiles, ports and hospitality sectors.
They expressed the hope that trade and investment between the two countries, which grew eight times in the last five years, will continue to expand, helping Bangladesh to become a middle-income nation by 2021.
The Forum was held on the sidelines of a one-day visit of the Japanese Prime Minister Shinzo Abe to Bangladesh where more than 150 business delegations of both the countries attended.
Around 50 Japanese business delegation including Chief Executive Officers of top Japanese companies travelling with the Japanese Prime Minister attended the forum.
Japan External Trade Organisation (JETRO) organised the event in cooperation with the Board of Investment and the Federation of Bangladesh Chambers of Commerce and Industry
FBCCI President Kazi Akram Uddin Ahmed highlighted the duty and quota free market access to Japan and said it would help rebrand Bangladesh with Japanese quality goods.
Mir Nasir Hossain, Managing Director of Mir Group, placed importance on infrastructure development in view of growing urbanisation and industrialisation.
Being the single source for the infrastructure spending, the government faces challenge to meet the country's demand, he said, adding that the private sector is also struggling to get long term finances.
The Bangladesh business leader stressed foreign direct investment (FDI) in physical communication infrastructure and energy sectors and said the Japanese investment in the form of public-private-partnership in road, rail and waterways network will help the country bridge the gap.
He also expected Japanese participation in big projects such as monorail project in Dhaka, dedicated railway bridge over the Jamuna, multi modal Dhaka eastern bypass and ecological restoration of four rivers around the capital.
Sakhawat Hossain, MD of Western Marine Shipyard Ltd, called for Japanese investment in ship building, leather goods and pharmaceutical sectors among other sectors and said the country has good base of tax, credit and policy level government support to boost the sector.
Bangladesh has earned world reputation in building ships including eco, solar ships, oil tanker, trawler etc, he said adding that the sector has survived despite the Great Recession sweeping through advanced economies.
But Mr Hossain said Japanese machines and knowhow will help the country get branding, technology and wider market to accelerate the growth of the economy.
Kuniharu Nakamura, President and CEO of Sumimoto Corporation of Japan, highlighted his company's activities since the 1960s and said the company wants "to contribute to your vision of becoming a middle income economy."
He said his corporation wants to invest in the Mass Rapid Transit line-6 project through its expertise, 'Matarbari ultra super critical coal fired power project', safe online operation, and industrial park development.
The CEO, however, recommended some measures like preferential tax system, land prices and corporate activities for advancement of the investment of economic achievement.
Yukio Yamada, President and CEO of Kume Sekkei Company Ltd, said his company wants to provide consistent solutions for urban and architectural design with Japan's quality.
"KUME SEKKEI has the network capable of quickly providing Bangladesh with Japan's quality and technology related to architectural design and development solutions," he added.
Ichiji Ishizu, MD of Mayekawa MFG Co, Ltd, highlighted his company's expertise in producing eco-friendly and energy saving production in industries, systems and products and offered Bangladesh of quality technology to preserve and maintain controlled atmosphere, super fresh and high freshness system in all kind of food items including for sea food, fruits and vegetable maintaining humidity and temperature.
Mayekawa is doing business globally, having 57 domestic offices and 3 plants, and 91 overseas offices.
Kunihisa Furukawa, Chairman of Ship Healthcare Holdings Inc, said his company provides support in hospital construction and remodeling buildings and wants to continue its support in this regard.
Kiminobu Hiraishi, President of Maruhisa Co Ltd, showed interest in expanding its industrial unit in Bangladesh next November, which would help increase employment generation from the present 2000 to 3000 people.
He laid importance on setting up bonded warehouse, consultant, accountant, lawyers as well as increasing the port facility with direct shipment by large size vessels and added to contributing to the education including women for the better future of the country.
Yuichi Tagawa, President and CEO of Bonmex Company Ltd, his company's programme 'Work for Bangla' wants to create job, produce high quality work wear in Bangladesh
Kanetoshi Oda, Chairman and CEO of Nippon Poly Glu Company Ltd, said Japan considers safety first in all cases and his company is interested in ensuring safe drinking water so that people can drink water without fear.
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