Japanese investors have outlined plans to invest an initial $1.2 billion in Bangladesh’s tourism and hospitality sector, although the proposal has yet to be formally submitted to the government.
The announcement came during a meeting with Civil Aviation and Tourism Minister M Rashiduzzaman Millat at the ministry’s conference room in the Bangladesh Secretariat on Sunday, according to a ministry press release.
The investors expressed interest in working with Bangladesh to develop its tourism industry but did not identify specific projects, investment locations or implementation timelines.
Millat welcomed the announcement and said the government would take necessary steps promptly once the investors formally submitted their proposals.
“We warmly welcome the interest of Japanese investors in Bangladesh. Once their investment proposals are formally submitted, the government will promptly take the necessary steps,” he said.
The minister also said a Bangladesh Tourism Board delegation would promptly arrange visits for the investors to potential tourism destinations.
Bangladesh wants to attract foreign capital into tourism through public-private partnerships (PPPs), with the government seeking arrangements that benefit both sides, Millat said.
He highlighted the Sundarbans, Cox’s Bazar and Sylhet’s tea gardens as examples of the country’s tourism potential, citing its natural attractions, heritage and cultural diversity.
Millat also pointed to Japan’s longstanding role in Bangladesh’s infrastructure development and pledged government cooperation with Japanese investors seeking opportunities in tourism.
The ministry did not identify the Japanese investors or disclose whether any agreements had been signed.
