Tokyo: Japan and Bangladesh today signed six Memorandums of Understanding (MoUs) on economic, investment, and other cooperation. The agreements were finalized on the third day of Chief Adviser Professor Muhammad Yunus’s ongoing visit to Japan, with Prof Yunus witnessing the signing on the sidelines of a seminar titled ‘Bangladesh Business Seminar’ in Tokyo.
According to Bangladesh Sangbad Sangstha, the first MoU was signed between Japan Bank for International Cooperation and the Energy and Mineral Resources Ministry of Bangladesh to enhance cooperation in realizing projects in the energy sector. The second MoU involved a land lease contract between ONODA Inc and Bangladesh SEZ Ltd, with ONODA planning to expand its gas meter project and undertake new manufacturing activities in Bangladesh.
The third agreement was between Bangladesh Naxis Co. Ltd and Bangladesh SEZ Ltd for another land lease contract at BSEZ, where Naxis intends to produce apparel accessories. The fourth MoU involved Glagit and Musashi Seimitsu Industry Glafit, alongside the Bangladesh Investment Development Authority (BIDA), to support the establishment of a factory for battery-run cycles and an electric motorcycle manufacturing plant.
The fifth MoU was with Cipher Core Co. Ltd, which is investing $20 million in a national pilot project for information security in Bangladesh, focusing on creating a quantum-resilient digital economy. The sixth agreement was signed between the Japan International Cooperation Agency and BIDA to provide support for developing the Integrated Single Window Platform (ISWP), aimed at consolidating investment promotion services in Bangladesh.
Speaking at the ceremony, Chief Adviser Professor Muhammad Yunus congratulated the involved parties and emphasized the importance of implementing the agreements. He highlighted the support from Japan during challenging times and expressed gratitude, stating the collaboration is not just about financial gains but improving people’s lives. Shinji Takeuchi, Parliamentary Vice-Minister of Economy, Trade and Industry of Japan, noted the growing presence of Japanese companies in Bangladesh, while other industry leaders also spoke at the event.