Bangladesh will soon sign a memorandum of understanding (MoU) with Japan for a feasibility study on building a Mitsubishi factory on Bangladeshi soil.
The MoU signing process is now at the final stage and it is expected to be signed within the current month, Industries Minister Nurul Majid Mahmud Humayun said during a meeting with the Japanese Ambassador to Bangladesh Ito Naoki.
Meanwhile, Ito Naoki also expressed satisfaction over the fact that the MoU for the feasibility study of setting up a car manufacturing plant in Bangladesh by Mitsubishi Motors Company Limited of Japan is in the final stage.
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The meeting took place at the Ministry of Industries on Wednesday.
During the meeting, the industries minister called for more local and foreign investment to accelerate industrialisation in the implementation of Vision-2041.
He also urged more Japanese investment in the expansion of the automobile, sugar, agro-food processing and ship recycling industries.
“The Japanese government has already promised to invest in setting up automobile and fertilizer factories in Bangladesh,” he said.
During the meeting, issues of mutual interest, including setting up of industrial plants and investment in accelerating massive industrialization in the country, were discussed.
Humayun further said that Japan is a long time genuine friend of Bangladesh and the two countries have been working together for a long time on various issues including industrialization, trade and commerce, culture, education, science and technology and infrastructure development.
He firmly believed that the areas of mutual cooperation will be further expanded in the future.