Japan envoy: GDP per capita of Bangladesh to reach $3000 in 5 years

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Japan Ambassador to Bangladesh Ito Naoki spoke at the launching ceremony of the ‘Japan desk’ at the World Trade Centre in Chittagong

Japan Ambassador to Bangladesh Ito Naoki said that Bangladesh will see an increase in Japanese investment as the per capita income of Bangladesh will cross $3,000 within the next five years.

He was speaking at the launching ceremony of the “Japan desk” at the World Trade Centre in Chittagong on Tuesday evening, organized by the Chittagong Chamber of Commerce and Industry (CCCI), Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) and Japan External Trade Organisation (Jetro).

Ito Naoki said Bangladesh’s export to Japan has been increasing over the years as local entrepreneurs entered the niche market of G-7.He said during the period of July to October, Bangladesh’s exports to Japan grew 13.4% compared to the same period last year.

Ito Naoki said that Jica is conducting surveys on Matarbari and Mirersaria Bangabandhu Industrial Park to increase Japanese investment.

Bangladesh has been growing steadily over the years and has become a developing country in 2021.

“Foreign entrepreneurs are showing interest to invest in Bangladesh as the country holds strategic points in South Asia and Southeast Asia,” said Country Director for Bangladesh of Japan International Cooperation Agency (Jica) Hayakawa Yuho.

He said Chittagong is the entry point to connect Bangladesh with the rest of the world.

Jetro Country Director YujiAndo said that Japanese investment will flourish through this desk.
President of the Japanese Commerce and Industry Association, Hikari Kawai said that more than 300 Japanese companies are investing in Banglades

According to CCCI President Mahbubul Alam, Bangladesh expects a new wave of investment from Japanese companies and joint ventures in Chittagong.

He said there are many areas where Japan and Bangladesh could engage as partners in development– be that in the development of infrastructure, or in the incubation of emerging sectors like ICT.

He said Japan is one of our leading partners in the plethora of mega-projects in terms of finance, construction, capitalization and technology while it is among the top five foreign investors in Bangladesh according to the cumulative Foreign Direct Investment.The trade relation between Japan and Bangladesh is now at a unique height with a trading volume of $3 billion while export to Japan is $1.2 billion and import from Japan is $1.8 billion.

“We want to diversify our investment portfolio, our products and export market as we wish to serve the global markets, both industrial and consumer in the best ways possible,” he said.

He said Bangladesh deeply values the strong, wide and deep layers of relations that Bangladesh shares with Japan.

“The friendship between Bangladesh and Japan, as nation-states, which we enjoy today was rooted in the visit of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman to Japan in 1972,” he added.

He said Prime Minister Sheikh Hasina is globally acknowledged for her remarkable performance in bringing a whole nation out of poverty and into a middle-income status in just less than twelve years.
While the world continues to struggle with the unprecedented effects of the Covid-19 pandemic, Bangladesh has been able to achieve early recovery and was able to maintain economic growth,” he added.

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