Japanese ambassador praises Bangladesh’s improvement in investment climate
Ito Naoki shared four reasons why Bangladesh matters to Japan including growth potential and geographically strategic location
Japanese Ambassador to Bangladesh Ito Naoki said the government of Bangladesh has done a wonderful job in terms of improving investment climate.
From the next year it will have impact on the flow of investment, Ambassador Naoki told diplomatic correspondents at DCAB Talk on Thursday at the National Press Club.
He said, "The investment environment in the country has improved because Bangladesh government has developed infrastructure, connectivity, and eased the process of investment."
Keep updated, follow The Business Standard's Google news channel
Highlighting Bangladesh's quality infrastructure development, Naoki said there will be a completely different picture in Bangladesh in the next three to five years.
Naoki shared four reasons why Bangladesh matters to Japan including growth potential and geographically strategic location.
The Japanese ambassador said Bangladesh will keep growing beyond Covid-19 and Bangladesh's strategic location will play more important role in integrating the market and supply chain in Asia and beyond.
He also said, "Japan will increase investment in the 'Bay of Bengal Industrial Growth Belt,' or 'BIG-B' initiative which includes projects on power generation, connectivity, urban development, and Special Economic Zone."
Naoki said medical, information technology, garments and private sectors will also receive more investment from Japan.
Already 310 Japanese companies are operating in Bangladesh. In fiscal year 2018-19, Bangladesh's export to Japan amounted to $1,365 million, which is 20.66% higher than that in previous fiscal year.
In fiscal year 2018-19, around $49 million remittance came from Japan to Bangladesh.
In 2020 Bangladesh-Japan signed 41st Official Development Assistance deal, involving approximately $3.2 billion for implementing seven projects.
Japan wants to see the start of repatriation process next year
Regarding the Rohingya crisis, the Japanese ambassador said they want to see the start of repatriation process next year as Japan supports repatriation of Rohingyas to their homes in Rakhine State.
"We should see the start of repatriation process next year. Japan will continue to help," he said.
Naoki said it is very important process for lasting solution to Rohingya crisis.
The Japanese ambassador said they are communicating directly with top military officials and the government level on the Rohingya crisis.
Bangladesh is now hosting over 1.1 million Rohingyas who have fled their homeland in Rakhine State after being persecuted by their own country.
Myanmar did not take back a single Rohingya from Bangladesh over the last two years but Myanmar, in its attempts to "mislead" the international community, claimed that a total of 397 displaced people have voluntarily returned from Bangladesh to Myanmar.
Two repatriation attempts turned futile as Myanmar "failed to remove trust deficit" among the Rohingyas and there was "lack of conducive environment" in Rakhine for their return.
Diplomatic Correspondents Association, Bangladesh (DCAB) hosted the DCAB Talk with its President Angur Nahar Monty in the chair. DCAB General Secretary Touhidur Rahman also spoke at the event.
