The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Japan External Trade Organisation (JETRO) will soon launch a joint initiative to attract investment in Bangladesh from one of major economies of the world.
JETRO, a government organisation of the island state in the Pacific, is set to sign a memorandum of understanding (MoU) with the apex trade-body of Bangladesh - FBCCI - on promoting bilateral trade and investment. The MoU signing ceremony will be held in Tokyo on Sunday.
Prime Minister Sheikh Hasina will witness the MoU signing after attending a breakfast meeting with leading Japanese businessmen.
"We are expecting large-scale investment from Japan in bigger projects in Bangladesh", FBCCI President Abdul Matlub Ahmad told BSS today (Friday) by phone. He is now leading a 30-member FBCCI team, as entourage of the prime minister, to the G7 Outreach Meeting.
Ahmad said under the MoU, the FBCCI and JETRO would encourage Japanese entrepreneurs to join hands with Bangladesh's private sector and invest in mega projects covering infrastructure, power and energy and manufacturing.
"Encouraging and facilitating relocation of Japanese industries to Bangladesh will also be another area of focus of the FBCCI-JETRO joint initiatives", he said, adding that Japanese technical assistance and transfer of technology to Bangladesh would also be one of the major targets of the MoU.
The FBCCI chief said many investors and businessmen in Japan knew little about the current strength of private sector in Bangladesh.
Referring to the recent road show in Japan organised by the Board of Investment (BoI), Ahamd said during the road show he drew attention of Japanese entrepreneurs to the investment opportunities in Bangladesh, particularly in joint ventures with local entrepreneurs.
"Eventually, we are going to sign the MoU to start an effective initiative to promote Japanese investment in Bangladesh", he said.