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.
Chief Adviser Prof Muhammad Yunus on Thursday paid tribute to the Armed Forces Division by placing a floral wreath at its headquarters.
Prof Yunus, who visited the division as part of his official duties, laid the wreath to honor the sacrifices and dedication of the members of the Armed Forces.
Following the wreath-laying ceremony, he signed the visitor’s book.
Chief Election Commissioner (CEC) Kazi Habibul Awal, along with four other election commissioners, announced their resignation during a press conference today at the Election Commission (EC) building. The resignation follows growing speculation and pressure.
CEC Awal stated, “In this changed situation, I and other commissioners have decided to step down. We’re handing over our resignation letters to the EC Secretary to send it to the President.” After submitting the letters, the CEC and some commissioners quickly left the premises, with no clear explanation for the absence of two election commissioners.
The resignations come amid increasing unrest tied to the registration of political parties such as Nagarik Oikya and Gono Odhikar Parishad. Sources revealed the CEC felt unsafe due to aggressive behavior from activists, prompting the decision to step down.
Protesters outside the EC building hurled shoes at vehicles carrying Election Commissioners Rashida Sultana, Md Alamgir, and Anisur Rahman as they left. Meanwhile, preparations for their exit had already been underway, with the commissioners reportedly relocating personal belongings from their offices.
The commission, appointed in February 2022 for a five-year term, had previously expressed confusion over demands for their resignation, maintaining they had conducted fair elections. However, internal discussions led to the collective decision to resign earlier than expected.
The government will now purchase LNG from the international spot market through open tender instead of negotiation.
Cabinet Committee on Economic Affairs (CCEA) in a meeting on Wednesday in principle approved a proposal in this regard.
Adviser of the interim government for Finance Dr. Salehuddin Ahmed, who presided over the meeting, said that the government will procure LNG through open tender.
The Energy and Mineral Division of the Ministry of Power, Energy and Mineral Resources placed the proposal where it sought approval to import LNG from 23 listed companies in the international spot market.
The adviser said that though such 23 companies were enlisted by the previous Awami League government and signed Master Sales and Purchase Agreement, they will remain unchanged.
He said that instead of applying the Speedy Increase of Energy and Power Supply (Special) Act 2010, the interim government will follow the Public Procurement Rules 2008 to ensure the competitive bidding process.
“We don’t want to change them as we wanted to import LNG quickly, ensuring proper competition among the suppliers,” he told reporters.
Committee also approved another proposal in principle to sign a contract to import urea fertiliser for the 2024-25 fiscal year from Fertiglobe Distribution Limited, UAE, on a G-to-G basis.
Meanwhile, the Cabinet Committee on Government Procurement (CCGP) in a meeting, presided over by the Adviser for Finance, approved 3 proposals for import of lentil and fertiliser.
As per the proposal, the Trading Corporation of Bangladesh will procure 10,000 metric tons (MT) of lentil from local firm Sahara Enterprise at a cost of Tk 98.20 crore with each kg priced at Tk 98.20.
The Commerce Ministry which moved the proposal on behalf of the TCB in the meeting mentioned in the proposal that the supplier firm was selected through open tender.
The CCGP approved two separate proposals of the Industries Ministry under which Bangladesh Chemical Industries Corporation will import 30,000 MT of bulk granular urea fertiliser from Fertiglobe Distribution Limited, UAE, under state to state contract at a cost of Tk 121.48 crore.
Each metric ton of fertiliser will cost $343.17.
Another 30,000 MT of bagged granular urea fertiliser will be procured from the local Karnaphuli Fertilizer Company Limited (Kafco) at a cost of Tk 116.99 crore with each metric ton costing $330.50.
