State Minister for ICT Zunaid Ahmed Palak has urged Japanese IT entrepreneurs to invest more in Bangladesh, taking the opportunity of the country's "competitive strengths and policy incentives."

He was speaking at the webinar "Investment Opportunities in Hi-Tech Parks in Bangladesh" hosted by the Embassy of Bangladesh in Japan, UNIDO ITPO Tokyo, and the Bangladesh Hi-Tech Park Authority (BHTPA) hosted Thursday.

More than 100 Japanese companies attended the event.

Palak said Japan could be a very good market for the local IT and ITES industry in the coming years.

Bangladesh has a huge potential in hardware manufacturing too, as nationwide infrastructures are being built to support heavy manufacturing as well as technology manufacturing, he added.

"Bangladesh offers cost-effective solutions for technology and services, making it an attractive destination for international companies looking to outsource or establish a presence in the region. It has a young and educated population that is eager to adopt and use technology, creating a large potential market for ICT services and products," Palak said.

Bangladesh Ambassador to Japan Shahabuddin Ahmed said: "Japan is a very potential country for Bangladesh in terms of trade, business, investment and bringing skilled human resources. The Embassy of Bangladesh in Japan will provide all possible support to Japanese investors in starting and expanding business in Bangladesh."

Khandoker Azizul Islam, managing director of the BHTPA, said the BHTPA is committed to providing necessary services to investors in hi-tech parks through its one-stop services, various incentives such as exemption of taxes and duties are also available for investors.

Yuji Ando, country representative of JETRO Dhaka, said Japanese companies consider Bangladesh a promising country for business. "According to the latest JETRO survey, 71.6 percent of Japanese companies want to expand their business in Bangladesh."

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