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HSBC, Jetro discuss how to attract Japanese investors in Bangladesh

  • Published at 04:17 pm October 21st, 2020
  • Last updated at 04:17 pm October 21st, 2020
HSBC, Jetro discuss how to attract Japanese investors in Bangladesh
Experts attend a webinar on how to bring more Japanese investors to Bangladesh, organized by HSBC Bangladesh, in partnership with the Japan External Trade Organization (Jetro) Bangladesh recently Courtesy

Stakeholders spoke and discussed on the opportunities and challenges that needs to be addressed to attract more Japanese business flow in Bangladesh

HSBC Bangladesh, in partnership with the Japan External Trade Organization (Jetro) Bangladesh, held a webinar on how to bring more Japanese investors and how Bangladesh could be an ideal investment destination for them.

The webinar, titled "Bangladesh-Japan Business Corridor: Stakeholders Dialogue & Way Forward", brought existing Japanese multinationals operating in Bangladesh, potential Japanese investors, large infrastructure project contractors, Japanese stakeholders facilitating the policies and profile of Bangladesh, together with economic, government, industry and financial services experts to share insights to help businesses advance their Bangladesh-Japan commercial business opportunities, said a press release.

Key representatives from Bida, Beza, Jetro, Japan Embassy, Bangladesh Embassy in Japan, HSBC and senior government officials spoke and discussed on the opportunities and challenges that needs to be addressed to attract more Japanese business flow in Bangladesh.

An intervention session also took place with participation from country managers, senior officials, stakeholders of Japanese multinational companies (MNCs) operating in Bangladesh, mainly in Infrastructure development business.

Salman F Rahman, private industry and investment adviser to the prime minister, and chief guest at the webinar, applauded HSBC for further stengthening the economic and business linkages between Bangladesh and Japan.

“Japan has been one of the major destinations for Bangladeshi goods. Our bilateral relationship has also enhanced in other areas, especially in trade and investment. We will do our best to facilitate Japanese investment in Bangladesh. Prime Minister Sheikh Hasina views Japan as a significant ally and is deeply committed to improving the bilateral ties between the two friendly countries,” he remarked.

Ambassador of Japan to Bangladesh Naoki Ito also lauded HSBC for curating a platform and content that supports closer connectivity between Japanese companies and Bangadesh.

“With the leadership of new Prime Minister, Yoshihide Suga, Japan remains committed to continuously supporting Bangladesh’s economic development. The establishment of Arihazar Economic Zone is a $1 billion investment project, which will attract lots of Japanese investment and has a potential to be the best economic zone in Asia by overcoming challenges of business environment such as tax, customs clearance and foreign remittance as well as giving incentives,” he observed.

Matthew Lobner, head of international and head of strategy and planning - HSBC Asia Pacific, said: “HSBC’s extensive global network offers unparalleled access to high-growth markets like Bangladesh. By leveraging our international footprint, we connect businesses to a network covering more than 90% of global GDP, trade and capital flows.”

Shahabuddin Ahmed, ambassador of Bangladesh to Japan, Md Sirazul Islam, executive chairman of Bida, Paban Chowdhury, executive chairman of Beza, Yuho Hayakawa, chief representative of Bangladesh Office Jica, Yuji Ando, country representative at Jetro Bangladesh and president JBCCI, Takasuke Sekine, head of global business, HSBC Japan, and Md. Mahbub ur Rahman, CEO, HSBC Bangladesh, also spoke on the occasion.

Md Mahbub ur Rahman, CEO, HSBC Bangladesh, moderated the intervention session with participation from   Hikari Kawai, ager, Marubeni Corp, Tetsuro Kano, country general manager, Itochu and Tareq Rafi Bhuiyan (Jun), general secretary, JBCCI.

A message from Bangladesh Bank Governor Fazle Kabir was also read out.

Japan has been a key trusted development partner of Bangladesh growth story and the momentum is expected to grow exponentially in coming years, the release added.

The two key sectors where Bangladesh is expected to witness significant Japanese investment are energy & power, and infrastructure development, it further read.

Japanese investments to cater growing domestic demand and facilitate the supply chain reconfiguration also holds immense growth potential.

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