Economy
Benefits from Investment in Bangladesh
On the Investment Summit event which is held in Japan to showcase the economic potential of Bangladesh and strengthen the economic ties between the both countries, as they mark the 50th anniversary of their relationship.
Bangladesh urged Japan to make investments for that they will be benefited from in the future soon.
The Bangladesh Securities & Exchange Commission chairman Professor Shibli Rubayat-Ul-Islam explains from a graph presentation about the benefits from investments in Bangladesh.
Faster Economic Growth
Shock Absorbing Capability against Global Volatility
Favorable Monetary & Fiscal Policy and Investment Friendly Government
No Pre-Approval to repatriate investment with profit
A resourceful Blue Economy, Green for Investment
From another chart BSEC Chairman shows Bangladesh’s consumer market will be bigger than the UK in 2030 according to HSBC Global Research, which defines. Bangladesh is expected to see the fastest growth in its consumer market – that is, the population earning more than $20 per day in constant PPP terms – in the current decade.
Also added, Bangladesh is expected to overtake the UK and Germany and thus become the World’s ninth largest consumer market globally by 2030.
Women Empowerment in Bangladesh
In Bangladesh female literacy rate is 71.18% according to UNESCO, reserve quota has been created in judiciary, administrative and govt. Jobs, women entreprenuers in the finacial sector grew from 21,400 to 56,732 in six month from March to September in 2021. Government is arranging many training programs to empower women.
Top Japanese Investments in Bangladesh
JTI – acquired local conglomerate Akij Group’s tobacco business for approximately USD 1.5 billion in 2018 making it the single largest FDI in the Bangladesh private sector till date.
Honda – invented more than USD 27 million on buildings, equipment, facilities and a land area of 25 acres setting up a motor cycle manufacturing plant since 2018.
In June 2020, Japan East West Medical College Hospital was inaugurated, which is a 300-bed joint venture project between Ship Healthcare Holdings of Japan and Aichi Medical Group of Bangladesh.
Bangladesh: A perfect destination for Japanese firms
The latest survey of JETRO says that Bangladesh is the top choice for Japanese companies seeking to expand business in Asia.
Yuji Ando, Country Representative of the Japan External Trade Organization, expects the number of Japanese firms to double within the next 5 years.
The export ratio of Japanese companies operating Bangladesh is on top among Asia and Oceania countries as the ratio of exports to total sales by Japanese companies currently stands at 65.4%.
Number of Japanese companies in Bangladesh tripled over the last 10 years to hit 338 in 2022.
Garment export to Japan was US $ 1.1 bllion in 2021-2022 & expected to rise 10 fold to reach US $ 10 billion by 2030
At the same time BD’s imports from Japan will increase 5 fold to reach US $10 billion and as such bilateral trade will cross US $20 billion by 2030
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
