Japan External Trade Organization (JETRO) Dhaka representative UG Ando said, “As the political situation is gradually improving, Japanese companies have started showing interest in investing in Bangladesh.

“Speaking to Bass, Ando said, “About eight new Japanese companies from various sectors, including infrastructure, manufacturing, logistics and food, approached us this month (November) to discuss investment.” In August and September the number was almost zero and in October it was only a few.

Ando also said that many Japanese companies doing business in Bangladesh have come to JETRO to expand their business or discuss their problems. The business attitude of Japanese companies in Bangladesh is positive compared to other countries in Asia, Pacific and neighboring regions. In particular, the size and growth potential of the domestic market is high.

Mentioning that Bangladesh will be the next investment destination for Japanese companies in assessing the competitive investment environment, he said trade agreements like the Economic Partnership Agreement (EPA) will bring a more business-friendly environment to Bangladesh. He felt that the Bangladesh Special Economic Zone (BSEZ) and Matarbari deep sea port will become a completely transformed hub in the development of Bangladesh’s logistics and manufacturing industry through the development of world-class infrastructure respectively.

He also said that from a comparative perspective (especially with ASEAN countries), there is a need to improve the business environment in Bangladesh by solving the problems of Japanese companies in Bangladesh, especially customs clearance procedures and transparently.

Ando, ​​Secretary General of the Japanese Commerce and Industry Association (JCIAD, shu-ku-kai in Japanese), said that JCIAD has already submitted a set of proposals for reforms to the Bangladesh Investment Development Authority (BIDA) to ensure a business-friendly environment in the country.