Japanese investors can now set up readymade garment units in a special economic zone (SEZ) dedicated to Japan, Bangladesh Commerce Minister Tofail Ahmed has said. The statement came after his recent meeting with Japanese ambassador to Bangladesh Masato Watanabe in Dhaka. Japan has promised to invest around $6 bn in Bangladesh, Ahmed said. Japan International Cooperation Agency (JICA) is working closely with Bangladesh Economic Zones Authority (BEZA) for the dedicated SEZ, which will be set up soon, Watanabe said. Commerce Secretary Shubhashish Bose and Senior Officials of the Ministry were present at the meeting, according to report.
The number of Japanese firms investing in Bangladesh witnessed a ten-fold rise from 35 ten years ago to around 350 now, Ahmed said. Bangladesh is developing 100 SEZs across the country. About 350 Japanese firms, including RMG and backward-linkage factories, are operating at present in the various export processing zones.