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Japan is set to arrange private-sector investments worth 1 trillion yen (around US$6.35 billion) in Bangladesh over the next five years, with the initiative expected to create around 200,000 jobs, according to reports.
The proposed investment plan is expected to cover automobile manufacturing, other industrial sectors and energy infrastructure.
It may also involve Japanese companies investing in the Bangladesh Special Economic Zone, developed with the participation of Japanese trading company Sumitomo Corporation.
The investment initiative is aimed at strengthening economic ties between Bangladesh and Japan, expanding industrial production and creating employment opportunities.
The announcement comes as Prime Minister Tarique Rahman visits Japan from October 26 to 29 to strengthen bilateral relations, attract foreign investment and expand trade and economic cooperation.
Tarique is scheduled to hold bilateral talks with Japanese Prime Minister Sanae Takaichi, with investment, trade, infrastructure development and other areas of cooperation expected to feature prominently in their discussions.
However, the 1 trillion yen investment plan was reported by Japan’s Nikkei newspaper, and Reuters said it could not independently verify the report.
The reported investment amount should therefore not be treated as fully confirmed.
