Prime Minister Sheikh Hasina seeks Japanese investment

Prime Minister Sheikh Hasina has urged Japanese companies to invest in Bangladesh and said her government would open up 'new frontiers of production' for them.

“I want our Japanese friends to take advantage of our youthful workforce and emerging opportunities in Bangladesh,” she told Japanese business leaders here.
 
Hasina, now on a four-day Japan visit, started her last day presiding over a breakfast meeting between top Bangladeshi and Japanese businessmen.
 
Bangladesh has planned for 100 special economic zones and IT parks. Work on 33 of them have already started, said the prime minister.
 
 “In four years, we expect to add 10 million Bangladeshis in our industrial manufacturing.”
 
Describing Japan as one of Bangladesh's ‘most tested friends,’ Hasina said that the Bangladeshi people hold Japanese investors in high esteem for their work ethic.

The prime minister also touched on the security issue.
 
“You surely are pondering about safety and security of investors and foreign nationals because of some incidents in Bangladesh in recent times.
 
“I assure you that my government has a zero tolerance for any form of terrorism or extremism,” said Hasina.
 
The prime minister said that she has asked her administration to ensure ‘the highest possible security’ for Japanese citizens and their businesses and NGOs in Bangladesh.
 

Hasina urged Japanese businesses to engage with Bangladeshi SMEs and draw them into their productive value chains, just like they have done in Thailand.

“Perhaps, Bangladeshi light-engineering products could be absorbed into the Japanese heavy industries and their ancillary products.”

In information technology, she said, Bangladesh economy would have much to offer in areas like, ‘imaginative software’, ‘shared or cloud-based processing’ and ‘evolving generic computer architecture’.

In her speech, Hasina highlighted the potentials of the shipbuilding and drug manufacturing industries.

“Our Blue Economy offers huge opportunities,” she added.

Bangladesh is now working to upgrade sectors like, jute, fishing and textile, said Hasina, adding that her government is now encouraging a ‘green’ apparel industry.

“Japan may collaborate with Bangladesh in developing its eco-friendly, advanced production line - globally and in Japan. So much potential is there in developing value chain for jute.”

She also said that Japanese businesses can make the use of Bangladesh’s demand for energy-intensive, climate-resilient, water-intensive, solid waste-processing and low-wastage power distribution.

The prime minister said that Bangladesh is set to launch sovereign bonds as well as other debt and equity instruments.

Hasina told Japanese businessmen that she had discussed with her Japanese counterpart Abe on the country’s Revitalisation Strategy.

“I believe, Bangladesh’s young population, their skills and innovation, country’s strategic location, development ambition and industrialisation plans can complement Japan’s Revitalisation Plan.”