Japan is set to invest one trillion yen, or approximately $6.35 billion, in Bangladesh's private sector over the next five years. Based on an exchange rate of 122 BDT per US dollar, this total amounts to 77,470 crore taka. This development was highlighted in a report published Thursday by the Japanese media outlet Nikkei Asia, which was subsequently picked up and reported by international news agency Reuters.
According to the reports, the Japanese government has agreed to arrange this substantial funding to boost private-sector investments in Bangladesh. The official announcement of the investment is expected to be made through a joint statement following an upcoming summit between Japanese Prime Minister Sanae Takaichi and Bangladeshi Prime Minister Tarique Rahman.
Nikkei Asia noted that the primary objectives of this financial commitment are to strengthen bilateral economic cooperation with Bangladesh, establish the country as a major manufacturing and investment hub, and counter China's growing economic influence in the Asian region.
This Japanese investment will be channeled into various sectors in Bangladesh, including the automobile industry, other manufacturing sectors, and infrastructure development within the power and energy domains. Additionally, Japanese companies are slated to invest in the 'Bangladesh Special Economic Zone', which has been developed through initiatives led by Japanese trading house Sumitomo Corporation and other partners.
Notably, Japan signed an Economic Partnership Agreement (EPA) with Bangladesh last February.
Prime Minister Tarique Rahman is scheduled to embark on a four-day official visit to Japan on October 26. On the second day of his tour, October 27, the Prime Minister will hold a bilateral meeting with Japanese Prime Minister Sanae Takaichi at her office. He is also scheduled to attend a state banquet hosted in his honor by the Japanese Prime Minister.
