Japanese entrepreneurs keen to invest in Bangladesh: Abe

[Aepsilons]

Japanese Prime Minister Shinzo Abe today said Japanese entrepreneurs want to invest in transport, infrastructure, power and energy and garment sectors mainly to increase the bilateral trade with Bangladesh.

"Bangladesh is an emerging economy. So, our government plans to promote Japanese investment in Bangladesh. Bangladesh is also an important partner of Japan in South Asia," said Abe, who arrived this afternoon in a 21-hour visit.

The Japanese PM was addressing the business luminaries of both Bangladesh and Japan at Sonargaon Hotel in Dhaka.

Chiefs of major business houses of both the countries were present at the meeting.

Bangladesh garment export to Japan is on the rise for relaxation of the Rules of Origin (RoO) by the Japanese government under the Generalised System of Preferences (GSP) of Japan, Abe pointed out.

In 2011-12 fiscal year Bangladesh’s garment export to Japan increased by 38.8 percent from the previous year for having the trade benefit, he said.


Japanese entrepreneurs keen to invest in Bangladesh: Abe

 

[extra terrestrial]

Japanese CEOs view Bangladesh as next investment destination

Visiting Japanese business leaders yesterday demanded easing of investment rules as they look to divert funds to Bangladesh from China due to rising production costs and worker shortage there.

“We want to expand business in Bangladesh but we need policy support from the government,” said Kuniharu Nakamura, president and chief executive officer of Sumitomo Corporation, one of the top three sogo shosha companies in the world.

Japanese companies that trade in a wide range of products and materials are known as sogo shosha. In addition to acting as intermediaries, sogo shosha also engage in logistics, plant development and other services, as well as international resource exploration.

Sumitomo, which has been in Bangladesh since 1961, is interested in helping the country achieve its goal of becoming a middle-income country by 2021, he said.

“If the government wants, we can help with the construction of railways and industrial parks. We are fully committed to contribute to its growth,” he said, adding that the Japanese conglomerate has been providing scholarships since 1996 to 40 students in various faculties of Dhaka University.

Nakamura's comments came at the Japan-Bangladesh Business Forum at Sonargaon Hotel in Dhaka, attended by 22 CEOs and 65 other high officials of companies from Japan. They accompanied Japanese Prime Minister Shinzo Abe during his two-day visit.

The CEOs present were from: Marubeni, Ship Healthcare Holding, Maruhisa, Kanbe, JETRO, Mayekawa, Euglena, IHI, JFE Engineering Corporation, ITOCHU, Shimizu, Mitsubishi Heavy Industries, Toshiba, Toray Industries, Nippon Poly-Glu, Medical Corporation Otsubo-Kai, Obayashi, Mitsubishi UFJ Financial Group, Bonmax and Kume Sekkei.
http://j.mp/Kaspersky-Lab-Bangladesh/
During his presentation, Yukio Yamada, president and CEO of Kume Sekkei, one of the leading architectural design firms in Japan, said he is interested in providing technological and architectural support for railways, airport and industrial park.

Ichiji Ishuzu, executive director of Mayekawa, manufacturer of industrial refrigeration equipment and automated food processing robots, said his company is interested to set up food processing, beverage and ice-making machinery plants.

Kiminobu Hiraishi, president of Maruhisa that owns factories dealing with integrated knitting, dyeing, printing and sewing at Adamjee Export Processing Zone, demanded direct sea freight between Bangladesh and Japan for shortening lead-time.

Kunihisha Furukawa, CEO of Ship Healthcare Holding that is engaged in the medical product business, said he has plans to invest 2 billion yen in Bangladesh to expand his business in medical college and hospital.

Mitsuru Izumo, president of Euglena, a venture company that engages in selling health food and development of bio-fuel with its core technology for mass cultivation of “euglena”, said he wants to expand his operations in Bangladesh.

In April 2014, the company launched “Euglena GENKI Programme,” that distributes Euglena Nutrition Biscuits to children in Bangladesh.

Kazi Akram Uddin Ahmed, president of the Federation of Bangladesh Chambers of Commerce and Industry, said China, Vietnam, Cambodia, India and many Asian countries have benefited tremendously from Japanese investment.

“Similarly, we expect Japan will support us in reaching our vision 2021 target.”

The World Bank in its recent study on South Asia showed that Bangladesh needs to spend $7.4 billion to $10 billion a year until 2020 to bring its power grids, roads, and water supplies up to the standard needed to serve its growing population, said Mir Nasir Hossain, former FBCCI president.

The power sector, on the other hand, will require an investment between $11 billion and $16.5 billion to generate electricity needed for industrial growth and supporting the people at large, he said.

Sakhawat Hossain, managing director of Western Marine Shipyard Ltd, said his company has been building high-quality ships for different companies and countries worldwide.

Japan has turned into a major export destination for Bangladeshi products, thanks to an increased demand for apparel and leather items at competitive prices.

Exports from Bangladesh to Japan increased 14.90 percent year-on-year to $862.08 million in fiscal 2013-14, riding on the back of generalised system of preferences.

Bangladesh shipped garment products worth $572.27 million to Japan last fiscal year, up almost 20 percent from the previous year.

 

[livingdead]

@Nihonjin1051 bangladeshis love japanese products... based on success of your cars, you should export kitchen appliances, television, electronic gadgets and other durables.

I expect them to be properly cleaned of course, nobody wants a dirty second hand mixer-grinder @BDforever

 

[Aepsilons]

Japanese CEOs view Bangladesh as next investment destination

Visiting Japanese business leaders yesterday demanded easing of investment rules as they look to divert funds to Bangladesh from China due to rising production costs and worker shortage there.

“We want to expand business in Bangladesh but we need policy support from the government,” said Kuniharu Nakamura, president and chief executive officer of Sumitomo Corporation, one of the top three sogo shosha companies in the world.

Japanese companies that trade in a wide range of products and materials are known as sogo shosha. In addition to acting as intermediaries, sogo shosha also engage in logistics, plant development and other services, as well as international resource exploration.

Sumitomo, which has been in Bangladesh since 1961, is interested in helping the country achieve its goal of becoming a middle-income country by 2021, he said.

“If the government wants, we can help with the construction of railways and industrial parks. We are fully committed to contribute to its growth,” he said, adding that the Japanese conglomerate has been providing scholarships since 1996 to 40 students in various faculties of Dhaka University.

Nakamura's comments came at the Japan-Bangladesh Business Forum at Sonargaon Hotel in Dhaka, attended by 22 CEOs and 65 other high officials of companies from Japan. They accompanied Japanese Prime Minister Shinzo Abe during his two-day visit.

The CEOs present were from: Marubeni, Ship Healthcare Holding, Maruhisa, Kanbe, JETRO, Mayekawa, Euglena, IHI, JFE Engineering Corporation, ITOCHU, Shimizu, Mitsubishi Heavy Industries, Toshiba, Toray Industries, Nippon Poly-Glu, Medical Corporation Otsubo-Kai, Obayashi, Mitsubishi UFJ Financial Group, Bonmax and Kume Sekkei.
During his presentation, Yukio Yamada, president and CEO of Kume Sekkei, one of the leading architectural design firms in Japan, said he is interested in providing technological and architectural support for railways, airport and industrial park.

Ichiji Ishuzu, executive director of Mayekawa, manufacturer of industrial refrigeration equipment and automated food processing robots, said his company is interested to set up food processing, beverage and ice-making machinery plants.

Kiminobu Hiraishi, president of Maruhisa that owns factories dealing with integrated knitting, dyeing, printing and sewing at Adamjee Export Processing Zone, demanded direct sea freight between Bangladesh and Japan for shortening lead-time.

Kunihisha Furukawa, CEO of Ship Healthcare Holding that is engaged in the medical product business, said he has plans to invest 2 billion yen in Bangladesh to expand his business in medical college and hospital.

Mitsuru Izumo, president of Euglena, a venture company that engages in selling health food and development of bio-fuel with its core technology for mass cultivation of “euglena”, said he wants to expand his operations in Bangladesh.

In April 2014, the company launched “Euglena GENKI Programme,” that distributes Euglena Nutrition Biscuits to children in Bangladesh.

Kazi Akram Uddin Ahmed, president of the Federation of Bangladesh Chambers of Commerce and Industry, said China, Vietnam, Cambodia, India and many Asian countries have benefited tremendously from Japanese investment.

“Similarly, we expect Japan will support us in reaching our vision 2021 target.”

The World Bank in its recent study on South Asia showed that Bangladesh needs to spend $7.4 billion to $10 billion a year until 2020 to bring its power grids, roads, and water supplies up to the standard needed to serve its growing population, said Mir Nasir Hossain, former FBCCI president.

The power sector, on the other hand, will require an investment between $11 billion and $16.5 billion to generate electricity needed for industrial growth and supporting the people at large, he said.

Sakhawat Hossain, managing director of Western Marine Shipyard Ltd, said his company has been building high-quality ships for different companies and countries worldwide.

Japan has turned into a major export destination for Bangladeshi products, thanks to an increased demand for apparel and leather items at competitive prices.

Exports from Bangladesh to Japan increased 14.90 percent year-on-year to $862.08 million in fiscal 2013-14, riding on the back of generalised system of preferences.

Bangladesh shipped garment products worth $572.27 million to Japan last fiscal year, up almost 20 percent from the previous year.

I'm impressed with Abe, truly. He promised the people of Japan when he received the mandate in 2012 -- that he would reach out to South Asia -- and he has delivered this. In one month, he's taking care of India, Bangladesh and Sri Lanka. With deals that are worth over $45 Billion. This is just the beginning...

 

[extra terrestrial]

I'm impressed with Abe, truly. He promised the people of Japan when he received the mandate in 2012 -- that he would reach out to South Asia -- and he has delivered this. In one month, he's taking care of India, Bangladesh and Sri Lanka. With deals that are worth over $45 Billion. This is just the beginning...

Abe's BIG-B Initiative looks quite encouraging for us!

BIG-B 'centrepiece' of Japanese cooperation: Abe

The Bay of Bengal Industrial Growth Belt (BIG-B) initiative is the “centrepiece” of Japanese cooperation in Bangladesh, Prime Minister Shinzo Abe has said.

In his first speech during his less than 22-hour tour of Bangladesh, he sought support of businessmen from both sides for the mutual growth of the two countries like “brothers and sisters”.

Speaking in Japanese, at a Bangladesh-Japan Business Forum event at Pan Pacific Sonargoan Hotel where he is staying, he said he would “promote” trade and investment in Bangladesh.

Bangladesh was “very important” for him for its location between South East Asia and India.

He said the country was also important for implementing his “Abenomics”, a much-talked-about economic policy he has adopted to inflate the decade long deflated Japanese economy.

“I am promoting Abenomics in Japan to lead Japanese economy. To me Bangladesh is very important to enhance trade and investment of Japan because I am leading Abenomic to lead Japanese economic growth."

“That’s why I chose Bangladesh for my visit today,” he said.

He arrived, along with his wife Akie Abe, at about 1pm on Saturday in a first visit of any Japanese prime minister to Dhaka after 14 years.

Prime Minister Sheikh Hasina received him at Hazrat Shahjalal International Airport in a rousing reception.

He went straight to the National Memorial in Savar from airport to pay respect to 1971 Liberation War heroes.

Then he went to the Bangabandhu Memorial Museum at Dhanmondi to pay homage to the Bangladesh’s founding father before delivering a brief speech to businessmen of both sides.

Businessmen of both sides including top executives of Japanese infrastructure, finance, garment, medical, food and safe water companies who are accompanying him were present during the speech.

Bangladesh’s ministers for commerce, industries and junior minister for foreign affairs were also present.

Abe said both countries entered “a new level of cooperation” which was reflected in the frequent high-level visits.


In this context he referred to his own visit, Sheikh Hasina’s visit to Japan in May and Japanese foreign minister’s Dhaka visit in March.

“This year is a memorable and special year for Japan, Bangladesh relations,” he said.

He mentioned the $6 billion loan promise he made for the next four to five years including this year’s $1.2 billion during Hasina’s visit and said these were all under Japan’s BIG-B concept.

Japan has a grand design of combining the two oceanic regions – Pacific Ocean and Indian Ocean – for more geo-political space to boost its economy.

The largest Bay in the world, Bay of Bengal forms the north-eastern part of the Indian Ocean. Bangladesh is located in the north of this Bay.

Abe mentioned three dimensions of the BIG-B concept.

One is to promote infrastructure improvement for industrial development, second is to create better environment for investments and last to promote improved “solidarity and unitedness” in the region including Bangladesh.

Specifically, he said improvement of transportation and infrastructure, stable supply of power and energy, urban development including special economic zone improvement, and also public sector development including improved market access to the financial market were the key to the BIG-B concept.

He expressed his hope that in those areas Japanese technology would be “fully leveraged and used in Bangladesh”.

“….by doing so it will bring mutual benefit and prosperity to the two countries,” he said.

He also highlighted Matarbari power generation project near the port city of Chittagong in his speech terming it as one of the “flagship” cooperation between the two countries.

But for promoting investments, he said, “voices of Japanese investors should be heard in making investment friendly environment."

He highlighted the role of Japanese companies in Bangladesh’s infrastructure development and said “this Sonargaon Hotel (where he spoke) was constructed by Japanese companies using Japanese Yen loan”.


Japan is the largest aid donor of Bangladesh.

Abe said he was “surprised to see that so many Bangladesh’s apparels in Japanese store” that he said was “inconceivable” even ten years ago.

He said it was because of duty-free market access facilities of Bangladesh’s ready-made clothes.

He also mentioned the “comprehensive partnership” both leaders launched in May, and said businessmen of both sides were “very important players” to achieve the partnership.

Cooperation toward attaining global peace and stability, economic cooperation leading towards the promotion of mutual interest and regional prosperity, and promotion of cultural and people to people exchanges were the three highlights of the partnership.

Japan also wants Bangladesh’s support for a non-permanent seat in the UN security-council in which Dhaka is the other contender. One will be elected in the next year’s elections.

Abe, however, did not mention anything about it in his speech.

But, pointing at the flags of both the countries, he said, “we are going to help each other like sisters and brothers and we are aiming to grow mutually together.”

Bangladesh and Japan’s flags are rectangular in size with red circle on the body of green and white respectively.

After his speech, he left the hotel for Prime Minister Sheikh Hasina’s office where both leaders will hold summit meeting.

They will issue a joint statement detailing further bilateral cooperation after the meeting.

 

[MohitV]

Mr. Abe has definitely got something big in mind

 

[UKBengali]

Japanese investment is always welcome in BD.

 

[eastwatch]

BIG-B 'centrepiece' of Japanese cooperation: Abe

The Bay of Bengal Industrial Growth Belt (BIG-B) initiative is the “centrepiece” of Japanese cooperation in Bangladesh, Prime Minister Shinzo Abe has said.

Source: Japanese entrepreneurs keen to invest in Bangladesh: Abe

To me it seems PM Abe wants Japan to challenge other forums in the making in our region. One such forum is BIMSTEC. As it is always, heavy fund is needed to implement projects whatever may be the forum. Japan has the fund and the needed technology that can truly challenge other such initiatives taken by other regional powers.

 

[kalu_miah]

Japan is a trusted and proven friend of Bangladesh. Japanese investments are welcome in Bangladesh as always. Any initiative that is led by Japan such as Abe's BIG-B is welcome and will be followed faithfully by Bangladesh.

I am glad to see that cooperation with Japan for Bangladesh is not being opposed by India and as a result is above partisan bickering for now. But we have to wait to see if this is a temporary phase or this situation continues. Hopefully Japan's clout with India will prevent India from trying to negatively affect a developing bilateral relationship between Japan and Bangladesh.

 

[idune]

Japanese engagement in investment, development and strategic sphere are always welcome. But one has to to be careful, specially Japanese govt, that current regime in Bangladesh with indian prescription does not impede these initiatives using bureaucratic and deceptive means.

 

[eastwatch]

Japanese engagement in investment, development and strategic sphere are always welcome. But one has to to be careful, specially Japanese govt, that current regime in Bangladesh with indian prescription does not impede these initiatives using bureaucratic and deceptive means.

My dear @idune, I am happy to note that you have finally discovered that India is behind all the Japanese tricks. Probably, India and Japan will rule BD together from now on. You must know that the Indian PM Modi was in Tokyo only ten days before to conspire with Japan about how to rule over BD jointly.

So, please enlighten us about this new conspiracy theory.

 

[kalu_miah]

My dear @idune, I am happy to note that you have finally discovered that India is behind all the Japanese tricks. Probably, India and Japan will rule BD together from now on. You must know that the Indian PM Modi was in Tokyo only ten days before to conspire with Japan about how to rule over BD jointly.

So, please enlighten us about this new conspiracy theory.

If I may clarify @idune statement above, he has concerns that if Bangladesh govt. is sincere about its intentions, in fact I have the same concerns as I have expressed in a previous post. But both idune and myself are giving our current govt. the benefit of doubt and hoping that they will not be influenced by India to backtrack and negate some of this improving bilateral relations between Japan-Bangladesh, as we all know that India loathes the idea of a developed Bangladesh which has good and improved relations with important countries of the world like Japan.

India is not Japan and Japan is not India, they have relations yes, but they do not belong to the same bloc as yet. Japan has 3-4 times the GDP of India, which has 10 times the population of Japan. So there is no comparison between a struggling 3rd country like India that is not able to feed its hungry to a developed country like Japan. Both Japan and the West are trying to recruit India in their bloc, but India is resisting and trying to stay neutral to get maximum benefit from both BRICS and Western alliance.

 

[scholseys]

He came here to get the non permanent seat at the UNSC. These Big-B initiative and the BIMSTEC are all pipe dreams.

In order for any investment to take place this damn country needs a decent infrastructure, I don't hear these Japanese investing in that sector. And what kind of a moron invests in a highly polarized nation? I don't see anything taking place unless the BNP/JeI are completely annihilated.

Note: Its interesting to see why the Japanese Prime Minister met with Khaleda Zia. She is not even the leader of the opposition. He met with her making Raushad Ershad wait...

@MBI Munshi

 

[kalu_miah]

He came here to get the non permanent seat at the UNSC. These Big-B initiative and the BIMSTEC are all pipe dreams.

In order for any investment to take place this damn country needs a decent infrastructure, I don't hear these Japanese investing in that sector. And what kind of a moron invests in a highly polarized nation? I don't see anything taking place unless the BNP/JeI are completely annihilated.

Note: Its interesting to see why the Japanese Prime Minister met with Khaleda Zia. She is not even the leader of the opposition. He met with her making Raushad Ershad wait...

@MBI Munshi

Isn't the Matarbari coal fired power station one of the biggest infrastructure projects?

Read the definition of infrastructure here:
Infrastructure - Wikipedia, the free encyclopedia
"Energy infrastructure

• Electrical power network, including generation plants, electrical grid, substations, and local distribution."

You think it is within power of India backed Awami League to annihilate BNP/JeI? I think the opposite has more chances of happening, India backed Awami League getting annihilated by the people, eventually when Hasina is too old with no one to replace her. I hope you are smart enough to not bet on a loosing horse.

 

[scholseys]

Isn't the Matarbari coal fired power station one of the biggest infrastructure projects?

Read the definition of infrastructure here:
Infrastructure - Wikipedia, the free encyclopedia
"Energy infrastructure

• Electrical power network, including generation plants, electrical grid, substations, and local distribution."

You think it is within power of India backed Awami League to annihilate BNP/JeI? I think the opposite has more chances of happening, India backed Awami League getting annihilated by the people, eventually when Hasina is too old with no one to replace her. I hope you are smart enough to not bet on a loosing horse.

I meant transport infrastructure, the Japanese controlled ADB did not allocate any money for the Padma bridge, you expect them to invest?