Prime Minister Tarique Rahman on Wednesday invited Japanese companies to invest in Bangladesh priority sectors, including automotive manufacturing, energy, technology and space, and high-speed rail and logistics, promising government support and reforms to improve the business environment.

Addressing the Bangladesh-Japan Economic Forum Dialogue at JETRO headquarters in Tokyo, he said the two countries should take their long-standing relationship to a new level through trade and investment following the signing of the Economic Partnership Agreement (EPA), Bangladesh’s first such agreement with any country.

The Japan External Trade Organization (JETRO) and the Japan-Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) jointly organised the dialogue.

Under the EPA signed between Bangladesh and Japan in February this year, Tarique said 7,379 Bangladeshi products will enjoy duty-free access to Japan, while Japanese goods, including steel, automotive parts and electronic components, will receive preferential access to Bangladesh.

“Investors on both sides will benefit from recently simplified and progressive rules on investment, services and customs procedures.”

The Prime Minister said Bangladesh has a market of more than 180 million people, a young workforce with a median age of 27 and a growing middle class. “The country is expected to become one of the world’s top 10 consumer economies by 2030,” he added.

Mentioning that their ambition is to transform Bangladesh into a global manufacturing hub, he invited Japanese entrepreneurs to invest here, saying, “By setting up factories in Bangladesh, you not only enjoy direct access to a large and growing domestic market but also benefit from efficient factors of production to export to the rest of the world.

Tarique said Japanese automotive manufacturers, large retailers, agro machinery developers and many others are already taking steps to set up factories in the Japanese Economic Zone in Araihazar, Chattogram, pledging that the government will provide all the support in those regards.
He said the government has heard Japanese companies’ concerns over reliable energy, efficient infrastructure, predictable customs clearance and taxation, and is working to address them.

“I fully understand that businesses need certainty. Investors need confidence. Our job is creating the right environment to deliver both,” Tarique said, adding that the government will provide every possible support for the initiative.

In the energy sector, he invited Japanese companies to explore Bangladesh’s future energy needs and take part in energy infrastructure, efficient power generation and renewable energy projects.
The Prime Minister said Bangladesh is planning to establish a Bangladesh-Japan Technology Park focused on innovation in artificial intelligence, cloud computing, robotics and electronics manufacturing, involving Japanese companies, universities and investors.

He also called for cooperation with Japanese institutions in space science, satellite engineering and related technologies to strengthen Bangladesh’s space capabilities.

On rail and logistics, Tarique said Bangladesh plans to develop a nationwide elevated high-speed rail network connecting six major divisional cities.

He said the government plans to prepare a national master plan, assess passenger and freight demand, prioritise routes and conduct feasibility studies, inviting Japanese institutions to invest in the initiative.

Emphasising people-to-people ties, the Prime Minister said Bangladesh wants to make Japanese-language education a priority so that millions of young people can learn the language alongside technical skills.

He said skilled Bangladeshi professionals proficient in Japanese can help meet employment needs in both Japan and Bangladesh.

Recalling Japan’s recognition of Bangladesh in February 1972 and its role as the country’s largest development partner for more than five decades, Tarique said the two countries should turn their long-standing friendship into a stronger partnership that creates opportunities for their people and shared prosperity.

“Our ambition is clear: Let us turn our long-standing friendship into a stronger partnership. Let us create mutual opportunities for our people and businesses….and prosperity for both our great nations,” he said.