Invest in Bangladesh

Prime Minister Sheikh Hasina has urged Japanese businesses to be partners in Bangladesh's development and achievements as the country moves towards a prosperous future.

"Do invest in Bangladesh. We are confident that your investment will bring you a huge success," she said while inaugurating the Bangladesh Investment Summit at the Westin Tokyo yesterday.

She specifically urged them to invest in the Japanese Economic Zone in Araihazar of Narayanganj.

The numbers of non-resident Bangladeshis and people of Bangladesh origin living in Japan are gradually increasing, and they remit significant amounts back home, she said.

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

Nishimura Yasutoshi, minister of economy, trade and industry of Japan; Ishiguro Norihiko, chairman of Japan External Trade Organization; and Ken Kobayashi, chairman of Japan Chamber of Commerce and Industry, also spoke at the programme.

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

Since Bangladesh is going to graduate from LDC status by 2026, the country is working with Japan to make the Economic Partnership Agreement possible, so that bilateral trade and investment can expand, she said.

Thanks to Bangladesh's ever-expanding economy, opportunities have increased considerably in sectors like the ICT, electronics, infrastructure, leather, textile, hospitality and tourism, heavy industry, chemical and fertiliser, and small and medium-sized enterprises.

"With our pragmatic policies and vision, Bangladesh is guaranteed to emerge as a regional hub for investment, industrialisation and exports to diverse destinations in the region and beyond."

— Prime Minister Sheikh Hasina

The government is building 100 economic zones and hi-tech and software parks that will be opened for foreign investment, she said.

"All required agencies and framework to facilitate your businesses have been set up."

During her successive terms in the government, people's socio-economic condition has improved 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 examples in many fields ranging from poverty reduction, empowerment of women, digitalisation, food production, and in addressing climate change challenges.

"We are determined in our journey towards a modern, developed and knowledge-based 'Smart Bangladesh' by 2041."

Bangladesh is a country of 170 million people and it has a growing market.

"With our pragmatic policies and vision, Bangladesh is guaranteed to emerge as a regional hub for investment, industrialisation and exports to diverse destinations in the region and beyond."

Returns on investment have been consistently high, she said. "Besides, business friendly fiscal and non-fiscal policies and incentives, stable democracy, prudent governance and leadership guarantee your investment will return good value."

During the Covid-19 pandemic that severely impacted trade and investment, Bangladesh was able to 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."

Bangladesh maintained its growth and achieved 7.1 percent GDP growth in 2021-2022 fiscal.

"Despite the Ukraine war, we are projecting a 6.5 percent growth rate in the current fiscal year."

At the event, 11 memorandums of understanding between companies from Bangladesh and Japan were signed in the presence of the prime minister.