Market Digest

Japanese firm assesses Bangladesh as rapidly developing market

30 May, 2021 12:00 AM printer

Japanese business group Marubeni Corporation has assessed Bangladesh as one of the most rapidly developing, high potential and attractive market.

For this, the firm said that they are focusing on high quality eco-friendly and sustainable infrastructure development in Bangladesh.

In line with this, the Japanese firm recently joined hand with Electricity Generation Company of Bangladesh Limited (EGCB) to develop100 MW solar PV power plant in Feni located in Bangladesh’s Chittagong region.

Talking to BSS, Country Head of Marubeni Bangladesh Hikari Kawai said Marubeni has been doing business in Bangladesh from 1950s and since the beginning the firm has been doing business here to contribute to the proper development of Bangladesh.

“Under this motto, we currently focus on high quality, eco-friendly and sustainable Infrastructure development, value adding to garment and textile industry and growth of ICT industry,” he added.

He informed that recently, they signed Memorandum of Understanding (MOU) with EGCB for 100MW solar power project in Feni and this project is a typical case of their focusing business.

Hikari Kawai also informed that Marubeni Corporation is engaging in trade and investment business globally.

“Judging from the information gathered from our global network, we assess that Bangladesh is one of the most rapidly developing, high potential and attractive markets,” he added.

Of course, he said, they know there are several concerns and issues such as COVID, time-consuming and costly export and import procedure, complicated rules and regulations.

However, he said, Marubeni assessed that the potentiality and attractiveness well exceed the concerns and issues.

He said high potentiality of growth, huge opportunities arising from the graduation from the least developed countries (LDCs) and remarkable relation between Bangladesh and Japan since the independence are the main reasons for investing in the country.

In order to run and expand the business here, he said, they need collaborations and supports from various companies outside Bangladesh. “For obtaining positive and strong supports from them, the provision of detailed and transparent information is the most important,” he added.

Therefore, he said, detailed and transparent information disclosure needs to be improved the most.

He appreciated Bangladesh government’s strong efforts for security after the attack of Holey Artisan.

“Fortunately, we have not faced any severe problem since the attack. However, we have still in mind this tragedy, thus we need to remain careful and we eagerly request continuous support from Bangladesh side,” he added.