Bangladesh Seeks Japanese Investment in ICT, Energy

Bangladesh is seeking greater Japanese investment in information and communication technology (ICT), artificial intelligence, cybersecurity, renewable energy and advanced manufacturing, Prime Minister Tarique Rahman said during separate meetings with Japanese business and political leaders on Monday. He also called for Japanese cooperation in modernising the Karnaphuli Fertilizer Company Limited (KAFCO), assessing the feasibility of a second fertiliser plant and strengthening technology transfer.

On the eve of his visit to Japan, the prime minister held separate meetings with Taro Aso, former Japanese prime minister and president of the Japan-Bangladesh Parliamentary Friendship League, and Masumi Kakinoki, chairman of Marubeni Corporation and president of the Japan-Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC). Discussions covered bilateral trade, economic partnership, investment, technology cooperation and people-to-people ties.

PM seeks investment in ICT and energy

Rahman met Kakinoki at 3:45 pm local time on Monday. The prime minister praised Kakinoki’s leadership in strengthening trade and economic cooperation between Bangladesh and Japan and thanked him for his role in expanding Japanese investment in Bangladesh and improving business ties.

Rahman emphasised the need to deepen the economic partnership between the two countries. Kakinoki expressed hope that effective implementation of the Economic Partnership Agreement (EPA) would expand bilateral trade, increase Japanese investment and create new business opportunities.

The prime minister called on Japanese businesses to invest more in promising sectors of Bangladesh, including ICT, renewable energy and advanced manufacturing. He said these sectors offered significant opportunities through foreign direct investment (FDI) and public-private partnerships (PPPs).

Rahman also placed particular emphasis on Japanese assistance in modernising KAFCO and assessing the feasibility of establishing a second fertiliser plant in Bangladesh.

Saying his government was committed to creating an investment-friendly environment, Rahman said it was working to expand opportunities for Japanese businesses through regulatory reforms, simpler investment approval procedures and stronger public-private partnerships.

Japanese companies keen to invest amid stability: Aso

Rahman met a delegation led by Aso at 3 pm local time on Monday, according to Shahadat Swadhin, the prime minister’s deputy press secretary.

The prime minister thanked Aso for his continued contribution to strengthening friendly relations between the two countries through his leadership of the Japan-Bangladesh Parliamentary Friendship League. Rahman recalled meeting Aso during a visit to Japan in 2006, when he was BNP’s senior joint secretary general. Aso also recalled his meeting with former Bangladesh prime minister Khaleda Zia.

Aso said a large proportion of Bangladesh’s population was young and that the country’s current political stability had created a favourable environment for investment. Japanese companies, he said, were highly interested in investing in Bangladesh under these circumstances.

Rahman praised Aso’s positive and constructive role in developing bilateral ties during his service in key positions, including Japanese prime minister, deputy prime minister and finance minister. He also noted that Aso’s longstanding personal engagement with Bangladesh had contributed to strengthening friendship between the two countries.

Both sides stressed the importance of closer political and economic relations and stronger people-to-people connections.

Rahman said his government had introduced several initiatives to create a business-friendly environment for foreign investors, including legal changes. He also outlined government initiatives in education, skills development and other sectors.

In light of the Economic Partnership Agreement between Bangladesh and Japan, Rahman sought Aso’s support for greater Japanese investment, expanded bilateral trade and stronger technology transfer. He also expressed hope for continued Japanese assistance in implementing Bangladesh’s development priorities and building a skilled workforce.

Officials from both countries attend meetings

At the meeting with Kakinoki, attendees included Finance and Planning Minister Amir Khasru Mahmud Chowdhury; Civil Aviation and Tourism Minister M Rashiduzzaman Millat; the prime minister’s adviser on finance and planning, Rashed Al Mahmud Titumir; State Minister for Foreign Affairs-1 Humayun Kabir; State Minister for Power, Energy and Mineral Resources Anindya Islam Amit; and the prime minister’s adviser on posts, telecommunications, ICT, science and technology, Rehan Asif Asad.

Also present were the prime minister’s special assistant Dr Md Shakirul Islam Khan, Bangladesh Bank Governor Md Mostakur Rahman and Additional Press Secretary Atikur Rahman Rumon.

The meeting with Aso was attended by the same ministers and advisers, along with the prime minister’s research officer, Md Abdus Sattar Patwari, and senior officials from the Prime Minister’s Office. The Japanese delegation included former minister and Liberal Democratic Party (LDP) chairman Yasutoshi Nishimura, Minister of Land, Infrastructure, Transport and Tourism Tatsunori Ibayashi, and senior members of Japan’s parliament.

Earlier Marubeni meeting focused on technology

On October 11, Rahman met a delegation led by Marubeni President and Chief Executive Officer Masayuki Omoto at the Prime Minister’s Office in Dhaka. That meeting covered cooperation in information technology, artificial intelligence, cybersecurity, fertilisers and energy, as well as expanding Japanese investment in Bangladesh.

The latest meetings put investment, technology transfer, skills development and implementation of the economic partnership at the centre of bilateral discussions, highlighting potential areas for expanding commercial and technological cooperation between Bangladesh and Japan.

//DBTech/IH/SMP/MIST//