Bangladesh, Japan sign six MoUs to boost economic cooperation

Bangladesh and Japan signed six Memoranda of Understanding (MoUs) on Friday, aimed at enhancing economic, investment, and bilateral cooperation, during the ongoing official visit of Bangladesh’s Chief Adviser Muhammad Yunus to Japan.
The agreements were signed on the sidelines of the “Bangladesh Business Seminar” held in Tokyo, with Yunus in attendance.
The first MoU was signed between the Japan Bank for International Cooperation (JBIC) and Bangladesh’s Ministry of Energy and Mineral Resources.
The agreement aims to deepen collaboration in the energy sector, particularly in project implementation and financing.
The second MoU was signed between ONODA Inc. and Bangladesh SEZ Ltd (BSEZ) for a land lease within the BSEZ.
ONODA, which previously implemented a JICA-sponsored gas meter installation project, now plans to establish facilities in BSEZ for assembly, inspection, and maintenance of gas meters.
The third agreement also involved BSEZ and Bangladesh Naxis Co. Ltd, with a land sublease agreement enabling Naxis to set up a manufacturing facility for apparel accessories within the economic zone.
The fourth MoU was signed among Glafit, Musashi Seimitsu Industry, and the Bangladesh Investment Development Authority (BIDA), supporting the establishment of a manufacturing plant for battery-powered cycles and electric motorcycles in Bangladesh.
Under the fifth agreement, Cipher Core Co. Ltd committed to investing $20 million in a national pilot project for information security in Bangladesh.
The project, based on the Complete Cipher Technology developed by award-winning inventor Takatoshi Nakamura, aims to transform Bangladesh into a quantum-resilient digital economy. The local implementing entity has been granted exclusive rights for technology deployment and global expansion.
The sixth MoU was signed between the Japan International Cooperation Agency (JICA) and Bangladesh Investment Development Authority (BIDA). It confirms JICA’s support—both technical and in-kind—for the early-stage development of the Integrated Single Window Platform (ISWP). Led by BIDA, the ISWP will unify various one-stop services offered by different investment promotion agencies in Bangladesh, streamlining the investment process.
Speaking at the signing ceremony, Chief Adviser Muhammad Yunus expressed appreciation for the strong bilateral ties and ongoing Japanese support.
“Now it is our task to implement. I am moved,” Yunus remarked.
Reflecting on Bangladesh’s challenges over the past 16 years, he said, “Our country has been hit by continuous earthquakes over these years—nothing remained in shape. In such a situation, a good friend came forward, and that friend is Japan. I came here to thank you and to design the next step.”
Calling the partnership a “historical challenge,” Yunus added, “We want to show the history that it was done, done in a perfect way.”
“We have kind of tightened our belt and say here we are to work. With your support it is doable. Let’s put our hands together and execute it… it’s not about making money. It’s about changing people’s lives,” he said.
Shinji Takeuchi, Parliamentary Vice-Minister of Economy, Trade and Industry (METI), said that over 300 Japanese companies are now operating in Bangladesh—an increase of 75 percent compared to a decade ago.
Norihiko Ishiguro, Chairman and CEO of the Japan External Trade Organization (JETRO), delivered the welcome speech. Fumiya Kokubu, Chairman of the Japan-Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) and Executive Corporate Advisor at Marubeni Corporation, also addressed the event.