AdminDhaka, 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
