Dhaka:Japanese multinational Marubeni Corporation has shown interest in expanding its investments and exploring new industrial ventures in Bangladesh, focusing on sectors such as fertiliser production, information technology, energy, ship recycling, and automobile manufacturing.
According to Bangladesh Sangbad Sangstha, Commerce, Industries, Textiles and Jute Minister Khandakar Abdul Muktadir has assured Marubeni of full government support. He emphasized the government's efforts to simplify business procedures, remove administrative complexities, and create an investment-friendly environment for foreign investors. These remarks were made during a meeting with Marubeni Corporation President and CEO Masayuki Omoto at the Ministry of Commerce.
The meeting discussed potential investments in various sectors, including fertiliser production, IT, energy, ship recycling, and Toyota-branded automobile manufacturing. The progress towards signing and implementing the Bangladesh-Japan Comprehensive Economic Partnership Agreement (CEPA) was also a topic of discussion. Both parties explored the diversification of Bangladesh's jute industry and ways to expand bilateral trade and investment.
Minister Muktadir identified opportunities for Japanese technology, expertise, and investment in developing Bangladesh's manufacturing sector. He highlighted areas such as shipbuilding, automobiles, agro-based industries, and high-tech sectors as promising for joint ventures. The government is advancing reforms to support investments in these industries, particularly in jute diversification, by encouraging the production of higher-value products and improving seed varieties.
Omoto discussed Marubeni's longstanding business presence in Bangladesh and opportunities to modernise the Karnaphuli Fertilizer Company Limited (KAFCO), improve natural gas usage, and increase fertiliser production capacity. He expressed interest in new investments and technological cooperation in producing diammonium phosphate (DAP) and triple superphosphate (TSP) fertilisers.
The potential of Bangladesh's information technology sector was highlighted by Marubeni, noting the contributions of Bangladeshi engineers through the Bangladesh Japan Information Technology (BJIT) initiative. Opportunities for expansion in artificial intelligence (AI) and IT offshoring were also discussed.
Additionally, the meeting covered investments in environmentally sound technologies for ship recycling, a proposed Toyota automobile manufacturing venture, and ensuring uninterrupted electricity supply to economic zones. The use of small modular reactor (SMR) technology was discussed as a possible long-term option for energy security.
Minister Muktadir reiterated the government's prioritization of simplifying company registration, trade licensing, and investment approval procedures. He assured Japanese companies of the necessary policy and institutional support for expanding their investments in Bangladesh. Both sides emphasized the importance of deepening Bangladesh-Japan economic relations and building long-term partnerships in industry and technology, leveraging the potential benefits of the proposed CEPA.