Bangladesh, Japan ink six MoUs to boost cooperation

Bangladesh and Japan on Friday signed six Memorandums of Understanding (MoUs) to deepen cooperation in energy, investment, manufacturing, and digital innovation. The agreements were signed in Tokyo during the ongoing visit of Chief Adviser Professor Muhammad Yunus.

Professor Yunus witnessed the signing at the ‘Bangladesh Business Seminar’, according to his Deputy Press Secretary, Abul Kalam Azad Majumder.

Energy Cooperation
The first MoU was signed between the Japan Bank for International Cooperation (JBIC) and Bangladesh’s Energy and Mineral Resources Ministry. It aims to enhance collaboration on energy sector projects.

Industrial Investment in BSEZ
Two separate MoUs involve land lease agreements with Bangladesh SEZ Ltd (BSEZ). ONODA Inc, which earlier implemented a JICA-backed gas meter project, plans to expand into manufacturing and maintaining gas meters. Bangladesh Naxis Co. Ltd intends to produce apparel accessories in BSEZ.

Electric Mobility Initiative
Glafit and Musashi Seimitsu Industry signed an MoU with the Bangladesh Investment Development Authority (BIDA) to support setting up a plant for electric motorcycles and battery-powered cycles.

Cybersecurity Project
Cipher Core Co. Ltd committed to investing $20 million in a national pilot project to introduce quantum-resilient cybersecurity based on award-winning Complete Cipher Technology. The local entity will hold exclusive deployment and expansion rights.

Digital Platform Development
The final MoU was signed between JICA and BIDA to provide technical and material support for developing the Integrated Single Window Platform (ISWP), aimed at unifying investment-related services across various agencies.

Yunus: "It's about changing lives"
Addressing the event, Professor Yunus expressed gratitude to Japan, describing the past 16 years in Bangladesh as a time of "continuous earthquakes" that left nothing intact. “A good friend came up — and that friend is Japan,” he said.

He called the new cooperation a “historic challenge” and emphasised implementation. “It’s not about making money. It’s about changing people’s lives.”

Japanese Support and Growing Interest
Shinji Takeuchi, Parliamentary Vice-Minister of Economy, Trade and Industry (METI), noted that over 300 Japanese companies are now active in Bangladesh — a 75% increase from a decade ago.

Norihiko Ishiguro, Chairman and CEO of JETRO, delivered the welcome speech. Fumiya Kokubu, Chairman of the Japan-Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC), also addressed the event.