A new joint venture company named Alfamart Trading Bangladesh Limited was launched on Tuesday with investment from Indonesia and Japan, which is going to start retail business in Bangladesh.
This company will expand its business across the country.
The full name of this venture is Alfamart Trading Bangladesh Limited.
Alfamart Trading Bangladesh Limited is a joint venture between Mitsubishi Corporation Japan, Alfamart Group Indonesia, and Kazi Farms Group.
One of the partners in the joint venture is Alfamart, which currently operates about 30,000 stores in Indonesia and the Philippines.
On the other hand, another partner is Mitsubishi Corporation, 'Sogo Shosha', which is a large diversified conglomerate in Japan.
They operate about 17,000 "Lawson" stores in Japan and Indonesia and have investments in several other international retail chains, including Uniqlo.
The initial foreign investment in the first phase of the project will be $50 million, which will be increased to $70 million in the second phase.
Through this initiative, the latest retail technology will be introduced in Bangladesh and a new channel will be created for the rapid distribution of the country's consumer goods manufacturers.
Present at the event were Commerce Adviser Sk Bashir Uddin and Social Welfare Adviser Sharmin S Murshid.
The inaugural speech was delivered by Director of Kazi Farms Group Kazi Zahin Hasan.
In addition, Budiant Joko Sushant spoke on behalf of Alfamart Group Indonesia.
Hiroshi Ogaki spoke on behalf of Mitsubishi Corporation Japan.
A dinner was organized on this occasion at the Intercontinental Hotel in the capital.
Top management representatives of renowned consumer goods companies of Bangladesh and senior officials of renowned companies and institutions were present at the dinner.