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Dhaka, November 26, 2024: The Foreign Investors’ Chamber of Commerce and Industry (FICCI), in collaboration with JETRO, the Japan Chamber of Commerce & Industry Association in Dhaka (JCIAD), and HSBC Bangladesh, organized a seminar titled "Japan-Bangladesh Collaboration: Enhancing FDI & Economic Partnership" today at The Sheraton Dhaka. The event was further supported by the Embassy of Japan in Bangladesh, JICA, and JBCCI. The seminar aimed to foster deeper economic ties between Japan and Bangladesh, focusing on enhancing Foreign Direct Investment (FDI) and strengthening economic partnerships.

Lutfey Siddiqi, Special Envoy on International Affairs to the Chief Advisor of Bangladesh, graced the event as the Chief Guest. Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA & BEZA, and H.E. IWAMA Kiminori, Ambassador of Japan to Bangladesh, attended as Special Guests.

The seminar featured a range of prominent keynote speakers and discussants from Japan, Bangladesh, and various international organizations, who shared insights into the potential for collaboration between the two nations.

Yuji Ando, Country Representative of JETRO Bangladesh, delivered the first keynote presentation on “Business Opportunities and Challenges of Doing Business in Bangladesh”, shedding light on the growing interest of Japanese SMEs in expanding their businesses in Bangladesh. He reported that 45.5% of companies in the region plan to expand operations within the next 1-2 years, with Bangladesh emerging as a top destination at 61.2%.

However, Ando also highlighted significant challenges, such as high dissatisfaction with the business environment, with 70.8% of respondents pointing to areas for improvement. He emphasized the need to address issues such as customs clearance procedures, transparency, and local procurement practices. Additionally, he noted that the production costs in Bangladesh were competitive, being less than 60% of those in Japan.

The second keynote on “Investment Promotion in Bangladesh and JICA’s Engagement” was presented by ICHIGUCHI Tomohide, Chief Representative of JICA Bangladesh, who discussed JICA's initiatives to support Bangladesh's economic growth. He outlined ongoing projects such as the Bangladesh Special Economic Zones (BSEZ) and the Multi-layered Connectivity in the Bay of Bengal (MIDI), which he identified as pivotal for enhancing Bangladesh’s investment climate.

ICHIGUCHI emphasized that JICA's efforts are focused on diversifying industries and improving institutional frameworks, particularly in terms of permissions, regulations, and logistics. His presentation underlined the significant role of infrastructure projects, such as the Matarbari deep seaport, in reshaping Bangladesh’s manufacturing and logistics sectors.

The seminar also featured a vibrant panel discussion, moderated by Hiroshi Uegaki, GM & Country Representative of Mitsubishi Corporation. The panelists included: Tareq Rafi Bhuiyan (Jun), President of JBCCI; Mohammad Shariful Alam, Country Manager of Mitsui & Co. Asia Pacific PTE Ltd.; Manabu Sugawara, Director of FICCI and General Manager of Marubeni Corporation and Gintautas Dirgela, Director of Corporate Affairs & Communications at JTI and Member of JCIAD. The panel discussed ongoing challenges and opportunities for enhancing Japan-Bangladesh economic collaboration, particularly in the areas of FDI, industrial development, and infrastructure improvements.

FICCI President Zaved Akhtar said, "This seminar is a landmark event that underscores the deep economic ties and potential between our two nations. I would like to express my gratitude to JETRO, JCIAD, and HSBC Bangladesh for their collaboration with FICCI, as well as to the Embassy of Japan, JICA, and JBCCI for their support. This partnership is pivotal for fostering greater foreign direct investment and economic growth. By working together, we can create a robust and forward-looking economic cooperation model that will benefit both Japan and Bangladesh. "

Atsushi Hirakuru, President of JCIAD, stated, "This seminar marks a significant milestone in strengthening the economic relationship between Japan and Bangladesh. The collaborative efforts reflect our shared commitment to fostering sustainable economic growth. I am confident that the insights and discussions from this seminar will pave the way for increased foreign direct investment and a mutually beneficial economic partnership. "

The seminar provided a significant platform for fostering dialogue between key stakeholders, including the private sector, government officials, and international organizations, to enhance economic cooperation between Japan and Bangladesh. The discussions underscored the importance of collaborative efforts to drive sustainable development and create an environment conducive to foreign investment. The event was attended by FICCI Board of Directors, CEOs of member companies, representatives from various embassies, and other key stakeholders.

About FICCI

Foreign Investors’ Chamber of Commerce & Industry (FICCI) the apex chamber of multinational companies has been working as the development frontier of Bangladesh by creating significant footprints in economic growth since its journey started in 1963. As a leading chamber, FICCI represents Foreign Investors from Thirty-five (35) countries across the globe in Twenty-one (21) sectors in Bangladesh. In its six decades of excellent journey, around 210 member companies of this chamber are contributing around 30% internal revenue of the government and representing more than 90% inward FDI in Bangladesh.

For further information

 T.I.M Nurul Kabir

Executive Director

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: info@ficci.org.bd, Website: www.ficci.org.bd

Subarna Mostafa

Specialist, Communication, PR & Stakeholder Management

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: subarna.mostafa@ficci.org.bd