FBCCI set to finalise sectors for Japanese investments

| Updated: October 24, 2017 21:00:28

FBCCI set to finalise sectors for Japanese investments

The country's apex trade body is set to finalise prospective sectors where Japanese investors can invest, a trade body leader said.

"We held several meetings with the Japanese investors. We hope we will be able to finalise the prospective sectors for Japanese investment in Bangladesh within the next few weeks," Sheikh Fazle Fahim, a vice-president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), told the FE.

Last year, the FBCCI and Japan External Trade Organisation (JETRO) had signed a memorandum of understanding for Japanese investments in Bangladesh during Prime Minister Sheikh Hasina's visit.

The experts of the FBCCI have already identified some prospective sectors for Japanese investments in the country.

Mr Fahim said the chief executive officers of Bangladeshi and Japanese companies held meeting in Singapore last month, where both sides discussed the prospect of Japanese investments in Bangladesh.

"We are engaged with an optimistic outlook," he said.

If the agreement is implemented, Bangladesh would receive substantial Japanese investments.

Bangladeshi businessmen are expecting to attract US$5.0-10 billion Japanese investments in Bangladesh.

About 16 top leading Japanese organisations expressed their interests to invest in sectors such as infrastructure and manufacturing, fertiliser, textile and clothing, telecommunications, power, vehicle and transport equipment.

Bangladesh mainly exports knitwear, woven garments, frozen foods, leather and leather goods and jute and jute goods and imports ships, boats and floating structures and machinery and mechanical appliances etc from Japan, according to state-run Export Promotion Bureau (EPB).

Bangladesh exported products worth $915.22 million to Japan and imported goods $1523.6 million from the fiscal year 2014-15.

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