Investment in Bangladesh will bring huge success: PM Hasina to Japanese businesses

Prime Minister Sheikh Hasina on Thursday invited the Japanese businesses to be the partner of Bangladesh’s development and achievements as it is moving towards a prosperous future.

“Bangladesh is moving forward to a prosperous future. We want you all to be partner of our development and achievements,” she said while inaugurating the Bangladesh Investment Summit at Hotel Westin here.

She invited all to come to Bangladesh and explore the potentials of business and investment opportunities.

“Do invest in Bangladesh. We are confident that your investment will bring you huge success,” she said.

Minister of Economy, Trade and Industry of Japan Nishimura Yasutoshi, Japan External Trade Organization (JETRO) Chairman Ishiguro Norihiko and Chairman of Japan Chamber of Commerce and Industry (JCCI) Ken Kobayashi also spoke at the programme.

Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Investment Development Authority (BIDA) jointly organised the summit titled "Trade and Investment Opportunities between Bangladesh and Japan.

Hasina expressed her happiness to see collaboration between Bangladeshi and Japanese companies.

“We expect more investments from Japanese investors especially in the Japanese Economic Zone in Araihazar,” she said.

Also read: Will ensure a level playing field for better business in Bangladesh: PM Hasina tells Japanese businesspeople

She said the number of non-resident Bangladeshis (NRBs) and people of Bangladeshi origin living in Japan are gradually increasing and they provide significant support to Bangladesh's economic activities through their remittances.

“I also urge them to develop more entrepreneurship, engage in business initiatives and joint ventures with their Japanese friends,” she said.

PM Hasina said since Bangladesh is going to graduate from LDC status by 2026, it is working with Japan to make possible Economic Partnership Agreement to expand bilateral trade and investment.

She said that in Bangladesh’s ever-expanding economy, opportunities have increased considerably in different sectors such as ICT, electronics, infrastructure, leather, textile, hospitality and tourism, heavy industry, chemical and fertilizer, and in SMEs.

“Our government is doing everything it can to facilitate smooth, easy and efficient ways of doing business. We are building 100 economic zones, Hi-tech and software parks to offer them for foreign investment, "she told the gathering.

She assured the Japanese investors that Bangladesh is ready for them, and that they will have great experience once there.

“All required agencies and framework to facilitate your business has been setup for convenience," she said.

She said that during her successive terms in the government she has been uplifting the socio-economic condition of the people as per the government’s Vision 2021 and Vision 2041.

“Bangladesh, as a country, is now cited as a role model for development and sets example in many fields ranging from poverty reduction, empowerment of women, digitalisation, food production, and in addressing climate change challenges.”

She said the resilient people are now looking ahead with hope and optimism to emerge from LDC category to a developing country by 2026.

“We are determined in our journey towards a modern, developed and knowledge-based “Smart Bangladesh” by 2041,” she said.

She mentioned that Bangladesh is a country of 170 million people which is itself a growing market. Its location in the heart of a bigger market of nearly three billion consumers, provides a huge attraction for business expansion.

“With our pragmatic policies and Vision, Bangladesh is guaranteed to emerge as a regional hub for investment, industrialization and exports to diverse destinations in the region and beyond, " she observed.

Sheikh Hasina said returns on investment in Bangladesh have been consistently high. In addition, business friendly fiscal and non-fiscal policies and incentives, stable democracy, prudent governance and leadership guarantees your investment will return good value.

“We can confidently assure you that Bangladesh ensures a solid future for global investors. We thus welcome all investors from world over, and Japanese investors in particular to see the opportunities for investment in Bangladesh.”

She said that during the Covid-19 pandemic that has caused havoc worldwide, and severely impacted trade and investment, Bangladesh could tackle the crisis through effective measures and interventions.

“Our economy has shown strong resilience, maintained growth and is still sustaining the pressure from the volatile world financial situation and supply side constraints.”

The premier mentioned that Bangladesh has maintained her economic growth and achieved 7.1 per cent GDP growth rate in fiscal year 2021-2022.

“Despite the Ukraine War, we are projecting 6.5 percent growth rate during the current fiscal year," she said.

In the event, 11 memorandums of understanding (MoUs) between private companies from Bangladesh and Japan that include JCCI and FBCCI were exchanged in presence of the Bangladesh prime minister.