Kamal expects higher Japanese investment

Staff Correspondent | Published: 00:00, Nov 17,2019


Finance minister Mustafa Kamal on Saturday said that he expected higher investment into the country from Japan in the coming days.

He also expected that the Japanese-funded projects, including the metro rail project in the capital and the thermal power plant project in Matarbari, would be completed on time.

Kamal was briefing reporters after a delegation of Japanese investors, including representatives from major Japanese companies, held a meeting with him and government officials concerned at the NEC conference room at Sher-e-Bangla Nagar in the capital.

Japanese ambassador in Dhaka Naoki Ito led the Japanese delegation.

The minister said that since a special economic zone had already been dedicated exclusively for the Japanese investors at Araihazar of Narayanganj, the government wanted that the Japanese investors would not face any problem there.

Replying to a question, Kamal said that the Japanese side had voiced some issues regarding royalties’ remittance and VAT which would be addressed soon when the NBR chairman sat with them, adds Bangladesh Sangbad Sangstha.

‘There is no legal complexity between us and all issues are procedural. Since there is no legal complexity, we’ll be able to sort the issues out at our level,’ Kamal said, adding that the meeting had decided that such issues would not arise in future.

He said that all the Japanese funded projects were progressing smoothly in Bangladesh and they were also satisfied with the implementation pace of the metro rail and Matarbari power plant projects.

About the outcome of the meeting, the Japanese ambassador said that this was a clear demonstration of the fact that the Japanese companies and the Bangladesh government were really committed to further promote the level of cooperation and collaboration between the two sides to contribute to the economic growth of Bangladesh.

‘We’re also hopeful of increasing trade and investment between the two countries… with this spirit of cooperation and collaboration between us, we can further promote our economic partnership and we’ll be able to find out solutions to those challenges and issues so that an increasing number of Japanese companies can play an even more important role for the economic growth of Bangladesh,’ he added.

The Japanese ambassador also hoped that the investment and business climate for Japanese and other foreign companies would improve further in Bangladesh.

‘The Japanese companies will expand business operations here and increase its exports which will have a positive impact on the economy of Bangladesh as well as have a positive outcome on the revenue of the Bangladesh government.’

Ito said that the aim of the Japanese investors here was to focus on methods to strengthen the economy of Bangladesh. National Board of Revenue chairman Md Mosharraf Hossain Bhuiyan, Financial Institutions Division senior secretary Md Ashadul Islam, Finance Division secretary Abdur Rouf Talukder and Economic Relations Division secretary Monowar Ahmed, among others, attended the meeting.

More about:

Want stories like this in your inbox?

Sign up to exclusive daily email