The New Nation - Internet Edition

Staff Reporter

Inadequate basic infrastructure is impeding foreign direct investments in Bangladesh and its competitive advantages over other competitors, said the President of Japan Bangladesh Chamber of Commerce and Industry (JBCCI) Hideo Ueno.

"Through the China+1 investment strategy by the Japan Government, Japanese investors have shown sizeable investment interest in Bangladesh to take advantage of its cheaper manpower and export quota facilities. But, lack of basic infrastructures do hesitate them," he said.

He was addressing a press conference yesterday to announce the 3rd Japan Trade Fair 2007, starting from November 20 to December 1st, at the Bangladesh China Friendship Conference Center in the city.

According to the President of JBCCI, his chamber office receives a significant number of possible Japanese investment inquiries every month. As its fundamental motive, JBCCI provides relevant information as answers to them. This number is gradually increasing, which indicates growing Japanese interest towards investment in Bangladesh, he said.

Echoing his statement, Secretary General of JBCCI Dr Muazzem Hossain said, "Despite greater Japanese investment potential, lack of infrastructures like the port facilities, power securities and inadequate transportation system discourage possible investors."

However, overlooking all such drawbacks, some Japanese companies have set up their industries in Bangladesh, the Secretary General of JBCCI informed the media. "Some more establishments are also under process," he added.

Regarding the forthcoming trade fair, President of the 3rd Japan Trade Fair 2007 Matiur Rahaman said, "It reflects Japanese interest in Bangladesh."

"It is the third such occasion to organise Japan Trade fair in Bangladesh. Like earlier two occasions, both local and Japanese companies will exhibit their best products," he said.

According to him, some 58 companies will participate in the fair this year with 130 exhibition booths.

"Under the same roof, the Japanese companies will exhibit their best products and services for local consumers and the Bangladeshi companies will showcase their products, potential to export to Japan," the President of 3rd Japan Trade Fair-2007 added.

Moreover, it was also mentioned that the amount, which will be collected in form of visitors' gate money, would be donated to the cyclone victims. The fair will remain open for all visitors from 12:00pm to 8:00pm.