Tokyo:Japan is planning to invest up to 1 trillion yen (approximately US$6.34 billion) in Bangladesh over the coming five years, potentially creating 200,000 jobs, as the two nations aim to enhance their economic collaboration and strengthen supply chains. This announcement followed a bilateral summit between Bangladesh Prime Minister Tarique Rahman and Japanese Prime Minister Sanae Takaichi in Tokyo.
According to United News of Bangladesh, Prime Minister Takaichi expressed support for the projected Japanese private investment in Bangladesh, which is expected to generate significant employment opportunities. She also praised Prime Minister Rahman's administration for its efforts to foster foreign direct investment.
The summit saw both leaders welcoming major investments anticipated during the visit and underscoring the importance of developing resilient supply chains across various sectors, including manufacturing, ICT, and pharmaceuticals. Additionally, they highlighted the significance of advancing digital transformation and developing skilled ICT professionals.
Both countries celebrated the signing of the Japan-Bangladesh Economic Partnership Agreement (EPA), committing to its early implementation to boost bilateral trade and investment, aiding Bangladesh's transition from the least developed country category. The leaders also agreed to upgrade the Bay of Bengal Industrial Growth Belt initiative to respond to global changes and supply chain risks.
The talks included plans to develop the Matarbari-Maheshkhali area as a logistics and industrial hub, and to advance projects like the third terminal at Dhaka's international airport and the city's mass rapid transit lines. Japan's 50 billion yen emergency support loan for Bangladesh's energy security was also discussed, with both leaders emphasizing cooperation on climate change and energy strategy.
Prime Minister Rahman reiterated his government's commitment to improving the investment climate, while Prime Minister Takaichi acknowledged Bangladesh's democratic progress and welcomed the country's recent peaceful elections. The summit concluded with an invitation extended by Rahman to Takaichi to visit Bangladesh.
Source United News of Bangladesh