Specialized Economic Zone

File photo Specialized Economic Zone for Japanese Entrepreneurs in Araihazar; in set, FBCCI President and Ambassador of Japan

Japanese Economic Zone to go into production in Narayanganj next year

In a courtesy call at the FBCCI office in Dhaka on Thursday, the ambassador said Bangladesh would be the main investment destination for Japanese entrepreneurs in the future. The interest of Japanese companies is increasing, especially around the two and a half thousand economic zones. There is an opportunity to further develop the economy of Bangladesh by utilizing this interest. However, Ito Naoki called for making the investment environment easier.

In particular, the ambassador said that the main obstacles to Japanese investment were the provision of loans for operating capital, delays in opening bonds, high rates of income tax and VAT, complexity of renewal of bond licenses, and differences in wages from outside industries with EPZ factories. Ito Naoki thinks if these problems are solved, Japanese investment in this country will increase.

Md. Jasim Uddin assured that FBCCI would work sincerely with the government to solve these problems. He said more than a hundred Japanese companies have been doing business in Bangladesh for many years. Besides, Japan is one of the major partners of Bangladesh in development projects.

Moreover, with the economic development, the life of the people of Bangladesh has changed for the better. As a result, the size of the domestic market has also increased. The popularity of Japanese products in this country is also relatively high. Therefore, any Japanese company investing in Bangladesh has ample opportunity to be profitable.

Besides, the FBCCI President highlighted various policy assistance including infrastructural development taken by the government for foreign investors.