Economy
Bangladesh Offers Expanded Investment Opportunities to Japanese Companies in EPZs
In a recent statement, Prime Minister Sheikh Hasina of Bangladesh expressed her country’s willingness to allocate more space within its Export Processing Zones (EPZs) for Japanese companies interested in establishing industries in Bangladesh. This declaration came as a Japanese delegation conveyed the strong interest of numerous Japanese companies to invest in Bangladesh.
During discussions, Prime Minister Sheikh Hasina reiterated Bangladesh’s commitment to fostering a favorable environment for Japanese investments. She stated, “Bangladesh has provided space to Japan in the EPZs, and we can allocate more space if Japan intends to establish industries.”
The Japanese parliamentary delegation, comprising five members and led by Nakanishi Yusuke, Director of the Committee on General Affairs in the House of Councillors, paid a courtesy call on the Prime Minister at her official residence, Ganabhaban. After the meeting, the Prime Minister’s press secretary, Ihsanul Karim, briefed reporters on the discussions.
The Japanese delegation emphasized the importance of further strengthening the existing development partnership between Japan and Bangladesh. They highlighted Japan’s involvement in various significant projects, including the metro-rail, and praised Japan’s contributions to infrastructure development in Bangladesh, particularly in mega projects.
The delegation also commended the recently initiated direct flight between Dhaka and Narita, emphasizing its potential to enhance connectivity between the two nations. They underscored the need to maintain peace in the Indian Ocean region to facilitate trade and business.
Additionally, the Japanese delegation praised Bangladesh’s remarkable achievements in women’s empowerment and education. In response, Prime Minister Sheikh Hasina highlighted that a significant number of girls in Bangladesh receive education in educational institutions, often surpassing the enrollment of boys. She also mentioned that her government provides free education to girls.
Prime Minister Sheikh Hasina further sought Japanese assistance in the construction of a sea aquarium in Bangladesh, emphasizing the potential benefits of such a project.
In a separate meeting, Yohei Sasakawa, Chairman of the Nippon Foundation, informed the Prime Minister that the foundation will provide USD 3 million in support of the Rohingya population on Bhasanchar Island. Prime Minister Sheikh Hasina reiterated the importance of the Rohingya people returning to their home country, Myanmar, and highlighted ongoing communication efforts with the Myanmar government in this regard.
Yohei Sasakawa, who survived the Second World War along with his mother when over one lakh people died, commended the strong friendship between Bangladesh and Japan. He also praised Bangladesh’s efforts to eliminate leprosy and rehabilitate those affected by the disease. The Nippon Foundation Chairman invited the Prime Minister to participate in the National Leprosy Conference scheduled to take place in Dhaka in October this year.
The meetings were attended by Prime Minister’s Principal Secretary M. Tofazzel Hossain Miah, Foreign Secretary (Senior Secretary) Masud Bin Momen, and Japanese Ambassador to Bangladesh Iwama Kiminon.
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.
