Dhaka:Japanese multinational Marubeni Corporation has expressed a strong interest in broadening its current investments and exploring new industrial opportunities in Bangladesh, focusing on sectors like fertiliser production, information technology, energy, ship recycling, and automobile manufacturing.
According to Bangladesh Sangbad Sangstha, Commerce, Industries, Textiles, and Jute Minister Khandakar Abdul Muktadir assured Marubeni of comprehensive government support during a meeting with the company's delegation led by President and CEO Masayuki Omoto. The minister emphasized efforts to streamline business procedures, eliminate administrative hurdles, and create an investment-friendly environment for foreign investors.
The meeting, which took place at the Ministry of Commerce, also included Industries Secretary Abdun Naser Khan. Discussions highlighted potential investments in various sectors and progress towards the Bangladesh-Japan Comprehensive Economic Partnership Agreement (CEPA). The participants also considered diversifying Bangladesh's jute industry and expanding bilateral trade and investment.
Minister Muktadir suggested that Japanese technology, expertise, and investment could significantly contribute to the development of Bangladesh's manufacturing sector. He identified opportunities for joint ventures in shipbuilding, agro-based industries, and high-tech sectors, and mentioned ongoing government reforms to attract investment.
On the topic of jute diversification, the minister noted the government's encouragement of higher-value product manufacturing and the importance of international technological cooperation. He outlined initiatives like blending jute fibres with other materials and enhancing seed varieties.
Omoto, representing Marubeni, highlighted the company's long-standing presence in Bangladesh and discussed plans to modernize the Karnaphuli Fertilizer Company Limited (KAFCO) and increase fertiliser production. He also expressed interest in new investments and technological collaborations in fertilizer production and the IT sector, including opportunities in artificial intelligence and IT offshoring.
Furthermore, the meeting covered investments in environmentally friendly ship recycling technologies, a proposed Toyota automobile manufacturing venture, and ensuring a stable electricity supply to economic zones. The potential adoption of small modular reactor technology for energy security was also discussed.
The minister reiterated the government's focus on simplifying company registration, trade licensing, and investment approval processes, as well as facilitating the repatriation of profits and capital for foreign investors. Both parties emphasized the importance of deepening economic relations between Bangladesh and Japan and leveraging the potential benefits of CEPA for long-term industrial and technological partnerships.