Araihazar EZ to attract huge Japanese investments: Japanese envoy

Staff Correspondent | Published: 22:48, Oct 21,2020


The country’s business environment has been suffering from challenges related to taxation, customs clearance and foreign remittance, said Japanese ambassador Naoki Ito.

Despite the challenges, the Araihazar Economic Zone, a $1 billion investment project, will attract lots of Japanese investments, he said, adding that the economic zone had the potential to become the best in Asia by overcoming the challenges.

HSBC Bangladesh in partnership with the Japan External Trade Organisation organised a webinar on ‘Bangladesh-Japan Business Corridor: Stakeholders Dialogue and Way Forward’ where Japanese stakeholders, existing and potential Japanese investors were present, said a press release issued by HSBC Bangladesh on Wednesday.

Naoki lauded HSBC for creating a platform and content that supports closer connectivity between Japanese companies and Bangladesh.

He said that under the leadership of Japan’s new prime minister Yoshihide Suga, Japan remained committed to continuously support Bangladesh’s economic development.

Prime minister’s private industry and investment affairs adviser Salman Fazlur Rahman said, ‘Japan has been one of the major destinations for Bangladeshi goods.’

‘Our bilateral relationship has also been enhanced in other areas, especially in trade and investment,’ he said, adding, ‘We will do our best to facilitate Japanese investment in Bangladesh.’

He also mentioned that prime minister Sheikh Hasina saw Japan as a significant ally and was deeply committed to improving the bilateral ties between the two friendly countries.

Speaking at the event, HSBC international, strategy and planning head Matthew Lobner 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 per cent of global GDP, trade and capital flows,’ he said.

Bangladesh’s ambassador to Japan Shahabuddin Ahmed, Bangladesh Investment Development Authority executive chairman Md Sirazul Islam, Bangladesh Economic Zones Authority executive chairman Paban Chowdhury, Japan International Cooperation Agency chief representative of Bangladesh office Yuho Hayakawa, JETRO Bangladesh country representative and Japan-Bangladesh Chamber of Commerce and Industry president Yuji Ando, HSBC Japan head of global business Takasuke Sekine and HSBC Bangladesh chief executive officer Md Mahbub ur Rahman, among others, also spoke on the occasion.

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