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Prime Minister Tarique Rahman invited Japanese businesses and financial institutions to invest in Bangladesh on Tuesday, saying cooperation should translate into productive investment, technology transfer and skilled employment.
He made the appeal at a joint press conference with Japanese Prime Minister Sanae Takaichi at the Kantei, the Japanese prime minister's office in Tokyo, after their bilateral summit, according to United News of Bangladesh.
Rahman said their discussions covered energy, information and communication technology, railways, infrastructure, deep-sea ports and foreign direct investment. He described the aim as turning the countries' long-standing friendship into economic opportunity and shared prosperity.
The prime minister said several memorandums of understanding had been exchanged across key areas. He also said a joint statement would set out the outcomes of the discussions and the two governments' shared priorities. The UNB report did not provide a complete list of the signed instruments or a timetable for individual investments.
The distinction matters for businesses and workers following the visit: an invitation to invest and an agreement to cooperate do not, on their own, establish how much money will be spent, when a project will begin or how many jobs it will create. Those details will depend on the instruments and investment plans that follow.
Tuesday's summit followed a series of economic discussions in Tokyo on Monday. The Financial Express reported that Rahman asked Japan International Cooperation Agency President Tanaka Akihiko for help establishing a technological village and an innovation city in Bangladesh.
During that meeting, Bangladesh also proposed expanding skills cooperation through a Bangladesh-Japan Skills Partnership. Rahman sought continued concessional lending and technical assistance, along with budget support to meet energy needs, according to the newspaper's account, which cited his deputy press secretary.
The two sides discussed completing Japanese-supported development projects on schedule and speeding up approval and implementation of priority projects. Tanaka reaffirmed his commitment to working with Bangladesh, the report said.
In a separate Monday meeting with Marubeni Corporation Chairman Masumi Kakinoki, Rahman sought investment in ICT, renewable energy and advanced manufacturing through foreign direct investment and public-private partnerships. He also requested cooperation on modernising the Karnaphuli Fertiliser Company and examining the feasibility of a second fertiliser plant.
The Financial Express reported that implementation of the Economic Partnership Agreement signed in February was another priority for the visit, alongside access for Bangladeshi products to Japan's market.
At Tuesday's press conference, Rahman said his government wanted to work with Japanese partners on mutually beneficial business ventures. The immediate next document to watch is the joint statement he said would outline the summit's results; the reports reviewed here do not establish final project costs or employment commitments.
