The Japan External Trade Organization (JETRO) is optimistic about large-scale Japanese investment in Bangladesh in the face of competitive labor prices, upward trend in per capita income and growing domestic demand.

In order to attract more Japanese investors, Bangladesh needs to overcome investment barriers and improve its position in the Doing Business Index to facilitate trade, said a Japanese trade diplomat.

UG Ando, ​​Jetro's Country Representative, said Bangladesh is one of the main destinations for Japanese entrepreneurs and they are investing in various sectors, including readymade garments (RMG), textiles, IT and infrastructure, with competitive human resources and huge domestic market.

He mentioned that the number of Japanese companies operating in Bangladesh has almost quadrupled in 10 years. In 2010, out of 83 Japanese companies, 321 companies are now running their business in the country.

He said many Japanese entrepreneurs are expanding their business in various fields, including electrical and consumer goods in the country. The flow of Japanese investment is now slowing due to the ongoing epidemic. However, it is hoped that this investment will increase a lot if various projects including Japan Economic Zone are implemented in Araihazar Upazila under Narayanganj District at the initiative of the Government of Bangladesh.

He added that many Japanese infrastructure development companies are coming to Bangladesh to work on the Japanese Government Development Assistance (ODA) project, including the Matarbari deep sea port.

Sunbd/NJ