Japan firms keen to invest more

Japanese Prime Minister Shinzo Abe's visit to Bangladesh with 20 chief executives of top companies is a signal to developed countries that Bangladesh has the potential, said Japan.

Bangladesh could tell the West that one of the G-7 member countries is coming to Bangladesh with trust in a big way, said Kuni Sato, the spokesperson for the Japanese foreign ministry.

This sudden upswing is natural and purely driven by economy, said two top officials of the Japanese prime minister's office and the foreign ministry talking to a select group of seven journalists, including one from The Daily Star, at a special breakfast briefing at the Sonargaon Hotel. In reply to a question on Bangladesh's withdrawal of candidacy in non-permanent member in the UN Security Council, Kuni said Bangladesh's support for Japan was not in exchange for anything, not for any financial package or any give and take.

“It is because of the long term relations between Japan and Bangladesh. We will always consider Bangladesh as a trusted friend even if Bangladesh continued to run in the election,” she said.

In a major policy decision, Bangladesh withdrew its candidature for a non-permanent seat on the UN Security Council for 2016-17 after Abe arrived in Dhaka Saturday afternoon on a 21-hour official tour.

On the Abe visit, she said, “The visit by the Japanese prime minister along with a big business delegation is very timely as the CEOs of top industries in Japan are now much eager to invest in Bangladesh as they find the country very promising.”

She, however, said to maintain this upward trend, the Bangladesh government must improve the investment climate, services by Bangladesh's foreign investment regulatory authorities, stabilise           supply of electricity and build infrastructure.

“Political stability is also a must … now the situation is better and the government should ensure that there is no fear of political uncertainty,” said Kuni, who is also the director general for Press and Public Diplomacy of Japan.

She said the Japanese leadership were of the view that “Bangladesh Prime Minister Sheikh Hasina in many ways is a wise woman … Bangladesh has a good leader now. She knows how to develop relations by striking a balance.”

On utilisation of Japanese Overseas Development Assistance (ODA), Kuni said Bangladesh has to be very serious in regard to proper use of Japanese ODA. “Look at China and Vietnam and see how they developed. But Bangladesh did not although the per capita ODA given to Bangladesh is higher than Vietnam and China.”

Kenko Sone, spokesperson for the Japanese prime minister's office and deputy secretary of the cabinet secretariat, said Abe's visit to Bangladesh mainly focused on boosting economic ties.

The two prime ministers welcomed economic cooperation to be pursued under the initiative of the Bay of Bengal Industrial Growth Belt (BIG-B), he said.

The three pillars of BIG-B are developing economic infrastructure, improving investment environment and fostering connectivity.

Both the prime ministers expected that BIG-B initiative with maximum use of Japan's advanced technologies such as high efficient coal-fired power generation, would contribute to mutual benefits.

“We like to strengthen relations based on comprehensive partnership,” Kenko said, adding that it also incorporates maritime security issue and military forces cooperation in disaster management.

He said Bangladesh has many problems like lack of infrastructure and power, and Japan was ready to work with Bangladesh to overcome them.

ABE LEAVES

Japanese Prime Minister Shinzo Abe left Dhaka yesterday morning wrapping up his brief visit.

Foreign Minister Abul Hassan Mahmood Ali saw him off at Shahjalal International Airport around 10:30am.

Before leaving Dhaka for Sri Lankan capital Colombo, the Japanese prime minister visited the Faculty of Fine Arts at Dhaka University.