Japanese conglomerate Marubeni Corporation has expressed interest in expanding its investments in Bangladesh across several sectors, including production of Toyota-branded vehicles.
The two sides also discussed potential investment and technological cooperation in fertiliser manufacturing, information technology, energy and the ship recycling industry.
The issues were discussed at a meeting held at the Ministry of Commerce on Sunday between a delegation led by Marubeni President and Chief Executive Officer (CEO) Masayuki Omoto and Commerce Minister Khandaker Abdul Muqtadir. Industries Secretary Abdun Naser Khan was also present at the meeting.
The commerce minister stressed the importance of increased Japanese investment in promoting industrialisation, technology transfer and employment generation in Bangladesh.
He said the government is working to simplify business procedures, reduce bureaucratic hurdles and ensure an investment-friendly environment to attract foreign investors.
The meeting reviewed progress in signing and implementing the Bangladesh-Japan Comprehensive Economic Partnership Agreement (CEPA), diversification of the jute industry, and opportunities for expanding bilateral trade and investment.
Masayuki highlighted the company’s long-standing business engagement in Bangladesh.
Discussions also covered environmentally sustainable technologies and investment in the ship recycling industry and the need for uninterrupted power supply in economic zones. The potential of Small Modular Reactor (SMR) technology as an alternative for ensuring long-term energy security was also raised.
Minister Muqtadir said Japanese technology, expertise and investment could play an important role in developing Bangladesh’s manufacturing industries. He noted that there is scope for expanding joint ventures in shipbuilding and ship recycling, automobiles, agro-based industries and high-tech sectors.
He also said the government is working to transform the jute sector beyond conventional products by promoting the production of high-value diversified goods. Emphasis is being placed on developing new products by blending jute fibre with cotton, viscose and polyester, as well as on improved seed development and expanded research.
The minister said the government is simplifying processes related to company registration, trade licences and investment approvals, while ensuring opportunities for foreign investors to repatriate profits and capital. Japanese companies interested in expanding investment in Bangladesh will receive the necessary policy and institutional support, he added.
Both sides underscored the importance of further strengthening Bangladesh-Japan economic relations, harnessing the potential benefits of CEPA, and expanding long-term partnerships in industry and technology.
