Japanese Ambassador to Bangladesh Ito Naoki on Sunday said Bangladesh has been able to send a strong message to the world in terms of keeping positive GDP growth even during the Covid-19 pandemic.
He also said the "Japanese Economic Zone" in Araihazar will be able to go for operation by next year and it will expedite Japanese investments in Bangladesh, said a press release.
Ito Naoki made the remarks during a bilateral business meeting with Dhaka Chamber of Commerce and Industries (DCC) President Rizwan Rahman.
The Japanese Ambassador said that to sign a free trade agreement (FTA), a joint study can be conducted with an initiative of both the governments.
He also mentioned that smooth customs clearance facilities, import transactions, better infrastructure of EPZ and EZ and skilled human resources will boost ease of doing business.
"Bangladesh can be the China Plus One investment destination for Japanese companies," he added.
He also said automotive industry of Bangladesh can be a good source of investment adding Japan's Mitsubishi has completed their feasibility study and next year they will take decision on investment in Bangladesh.
During the meeting, DCCI President Rizwan Rahman reiterated automotive industry in Bangladesh could be an emerging investment destination for Japanese entrepreneurs.
"Bangladesh and Japan has a strong bilateral business relationship since long," he said.
He mentioned 2019-20 fiscal, total trade volume between the two countries was $2.92 billion, where the amount of export and import was $1.20 billion and 1.72billion respectively.
"321 Japanese companies are now operating their activities in Bangladesh and in March 2021 the Japanese FDI in Bangladesh was $397.15 million," he added.
DCCI President further said Bangladesh mainly export RMG products to Japan and urged the ambassador to facilitate other promising products for export to Japan.