Infrastructure and taxation were cited as some of the challenges still existing for Japanese and other foreign companies in Bangladesh
Japanese companies are keen to invest in Bangladesh, but the investment environment needs to be more congenial and friendly, said Yuji Ando, country representative of the Japan External Trade Organisation (JETRO).
He was exchanging views with a few executive committee members of the Economic Reporters Forum (ERF) at ERF's office in Dhaka on Wednesday.
Ando requested the government improve the investment climate in the country in favour of Japanese companies, saying that around 310 Japanese companies were in Bangladesh, and the investment of Japan is around US$3 billion, according to a press release.
Highlighting the friendly relationship with Bangladesh, the JETRO chief said collaboration with ERF and JETRO can help improve the investment climate for investors. He also expressed his willingness to work in this connection with ERF.
Citing examples of infrastructure and taxation, Yuji Ando said there are many challenges still existing for Japanese and other foreign companies in Bangladesh.
Referring to a question on the relocation of Japanese companies from China, the JETRO Country representative said the situation is not like it has been reported due to scope of business in China.
He, however, said there is still scope of Japanese companies coming and ASEAN countries are being prioritised in the case of relocation.
Citing the example of JETRO's annual study, Yuji Ando said, "Seventy percent of Japanese companies here want to expand their investment which is the highest among other countries."
He mentioned a number of bottlenecks in the way of smooth investment, but expressed his willingness to invest further. "It should be a win-win situation," he said.
ERF President Saiful Islam Dilal, General Secretary SM Rashidul Islam, AFP Bureau Chief M Shafiqul Alam, former Reuters Bureau Chief Serajul Islam Quadir, among others, spoke at the occasion, while Media Professional Group Chief Executive Officer Somor Roy was also present.