The authorities of Bashundhara residential area have named one of their streets as "Japan Street" to honour the Japanese investors in Bangladesh.
Japanese ambassador to Bangladesh Naoki Ito inaugurated the street amid on Tuesday. The inauguration ceremony was organised by JCX Developments Ltd.
Ahmed Akbar Sobhan, the chairman of Bashundhara Group and JDL Managing Director Md Iqbal Hossain Chowdhury, among others, were present at the event.
Expressing his joy over the naming of the street, the Japanese ambassador said, "This is the first time that a street has been named after Japan, though the country has been a development partner of Bangladesh for a long time. I am very delighted."
And it will increase Japanese investment in newer sectors including real estate, he added.
Thanking the authorities for naming the street, Naoki Ito also said Japan is a tested friend and a big partner of economic development of Bangladesh.
In Bangladesh, 309 Japanese companies have invested so far and are implementing some of the megaprojects, Ambassador Ito added.
Ahmed Akbar Sobhan said Japan is "our old friend" and "we are delighted" to name the street after Japan.
"The present government is business-friendly. We are happy that Prime Minister Sheikh Hasina has created an option of a 20-year-long loan facility with 5 percent interest rate, creating a window of investment in the real estate sector," Akbar Sobhan said.
Md Iqbal Hossain Chowdhury said he has built the JCX business tower in partnership with Japan.