Bangladesh a new investment destination in Asia: Japanese envoy

Japanese companies consider Bangladesh as a new destination for investment in Asia, said Ito Naoki, ambassador of Japan to Bangladesh.

He spoke at a digital seminar on "Banking Support for Bangladesh-Japan Trade and Business Growth" jointly organised by Eastern Bank Ltd (EBL) and Japan External Trade Organisation (Jetro) on September 27.

"Nowadays telegraphic transfer is a standard method in international trade settlement. Bangladesh has yet to standardize it that has been a predicament of integrating Bangladesh into global supply chains," the Japanese ambassador said.

The seminar—attended by representatives of top Japanese companies operating in Bangladesh—was arranged to discuss and understand banking services and products requirements for Japanese investment in the country.

Japan is the biggest development partner of Bangladesh and as a leading private commercial bank of the country EBL should come up with products and services to meet the ever-growing banking requirements of Japanese companies operating here in Bangladesh, said Ali Reza Iftekhar, managing director and CEO of EBL.

At the seminar, he announced that EBL will soon open a 'Japan Desk' to cater to the banking needs of the Japanese companies to provide one-stop services.

Japan-Bangladesh enjoy special relationship, which has stood the test of time, said Yuji Ando, country representative of Jetro.

Ahmed Shaheen, deputy managing director and head of corporate banking of EBL, gave a presentation on services and propositions of the bank suitable for Japanese investors and responded to queries from participating companies.

The seminar was also attended by Haruta Hiroki, country representative of Jetro; Hikari Kawai, president of Japan Commerce and Industries Association in Dhaka, and SM Shariful Alam, vice president of Japan-Bangladesh Chamber of Commerce and Industry.