Called for Japanese investment in automobile-ship-food processing

Industries Minister Nurul Majid Mahmud Humayun has called for domestic and foreign investment to accelerate industrialization in the implementation of Vision-2041. He also called for more Japanese investment in the expansion of the automobile, sugar, agro food processing and ship recycling industries.

The Industries Minister made the remarks during a courtesy call on Japanese Ambassador to Bangladesh Ito Naoki at the office room of the Industries Ministry in Motijheel on Wednesday (August 18th).

Additional Secretary of the Ministry of Industry (Policy, Law and International Cooperation) Sheikh Faizul Amin, Private Secretary to the Minister (Deputy Secretary). Abdul Wahed, Senior Assistant Secretary (Policy) said. Salim Ullah and Haruta Hiroki, First Secretary of the Head of Economic Department of the Embassy of Japan were present on the occasion.

The Industries Minister said Bangladesh’s investment relationship with Japan is long-standing. The Japanese government has already promised to invest in setting up automobile and fertilizer factories in Bangladesh. Looking for more investment in other potential industries.

He said the two countries have been working with each other for a long time on various issues including industrialization, trade and commerce, culture, education, science and technology infrastructure development. These areas of mutual cooperation will be further expanded in the future.

At present, Bangladesh has a conducive environment for setting up industries and investment, including trade and commerce, said Naoki Ito, Japan’s ambassador to Bangladesh. He said the Bangladesh government is providing all kinds of facilities to foreign investors to create an investment environment. As a developing country, Bangladesh is one of the leading countries in South Asia in terms of industrial expansion and trade.

During the talks, the Ambassador of Japan assured his government’s full cooperation in seeking the necessary assistance of the Government of Japan in setting up a new fertilizer factory at Sirajganj and an automobile testing and research institute in Bangladesh.

The Japanese Ambassador expressed satisfaction over the fact that the Memorandum of Understanding (MoU) for the Feasibility Study to set up a car manufacturing plant in Bangladesh by Mitsubishi Motors Company Limited is in the final stages. Both sides expressed hope that the Memorandum of Understanding on Feasibility Study would be signed within this month.

Meanwhile, despite the Corona epidemic, Karnafuli Fertilizer Company Limited (Kafco) is reported to be producing fertilizers and supplying fertilizers across the country. Besides, the issue of construction of buffer godown for storage and supply of fertilizers across the country was also discussed at the meeting.

Sunbd/NJ