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Japan to arrange $6.35bn in private investment in Bangladesh
Japan is expected to arrange private-sector investments worth 1 trillion yen, equivalent to around US$6.35 billion, in Bangladesh over the next five years, according to a report published by Japan's Nikkei Asia newspaper.
The proposed investment arrangement is expected to be mentioned in a joint statement following a summit between Japanese Prime Minister Sanae Takaichi and Bangladesh Prime Minister Tarique Rahman, who is scheduled to visit Japan this month, the report said.
The planned investments are expected to cover automobile and other manufacturing industries, as well as the construction of energy facilities, according to Nikkei.
The investment initiative is also expected to involve companies entering the Bangladesh Special Economic Zone, which is being developed by several parties, including Japanese trading house Sumitomo Corporation.
The proposed investment plan could open up new opportunities for Bangladesh to attract Japanese capital, expand industrial production, diversify its manufacturing base and strengthen energy infrastructure.
Japan has long been an important development partner of Bangladesh, with cooperation spanning infrastructure, trade, investment and industrial development, reports BSS.