The New Nation - Internet Edition

UNB, Dhaka

Japan considers Bangladesh a potential destination of its relocated production bases and investment under China plus-1 theory, as Japanese investors want to reduce dependence on China.

"We're too much dependent on China… Now our investors are trying to divert production bases to other countries including Bangladesh," said new Japanese Ambassador in Dhaka Tamotsu Shinotsuka at a 'Meet-the-Reporters' at Dhaka Reporters Unity (DRU) yesterday afternoon.

Explaining the reasons for looking at Bangladesh, the envoy said Bangladesh has excellent labour forces which are cheaper than Vietnam, Thailand and China. It has also a big market.

"We're trying to request Japanese companies to come over here to do business and make investment," he said adding that the Japanese investors are interested to put their money in the garment sector he dubbed as centre of attraction for investment.

Present Japanese investment in Bangladesh is US$ 1.2 billion dollars till June last year, sixth after Malaysia.

Shinotsuka, who took up his ambassadorial assignment here two months ago, said political situation seems to be very stable in Bangladesh after the last year's general election to attract the Japanese investment and the government is doing quite a good job.

Mentioning that Japan is the largest donor of Bangladesh, he said so far US$ 10 billion in Official Development Assistance (ODA) were provided to this country, which is higher than the combined assistance of the USA and UK to Bangladesh.

The ambassador said the Japanese government has identified development of infrastructure including construction of roads and bridges and setting up power plants, which are crucial for this country, as their priority sectors here.

During more than an hour's interaction, Ambassador Shinotsuka responded to volley of questions, mainly on trade and investment, cooperation in climate change and easing traffic congestion.

DRU president Shamim Ahmad chaired the press interaction and its general secretary Pathik Saha made introductory remarks. Political Counselor at the Japanese Embassy Kazumi Endo was present.

Shinotsuka pointed out certain obstacles, including red tape, to the foreign investment and suggested one-stop service for entrepreneurs and investors.

He said there is room for Japanese investment in Bangladesh. A Japanese investment team is now in Dhaka exploring the promising sectors for their investment.

He termed the proposed Padma Bridge as one their priorities after construction of Jamuna Bridge, saying that Japan extended cooperation in feasibility study done by ADB and his government will provide long term assistance for it.

On traffic congestion in Dhaka City, the Japanese ambassador said JICA has been conducting a study on how to solve this urgent problem as he said it is a very complex issue.

He noted that only sky train or underground train will not be able to solve the problem. It needs improving traffic rule and traffic management. "We'll assist the government and take joint efforts to resolve it," he said.

On tackling impact of climate change, Shinotsuka said Japan supports Bangladesh to enhance its capacity for adaptation and mitigation. He said the Japanese government financed 80 cyclone shelters and two meteorological radar systems in Sylhet and Cox's Bazar to get advance warning about cyclone.

On human resources development, he said Japan would accept 300,000 foreign students by 2020 and Bangladesh has opportunity to take the advantage. Currently, more than 1,600 Bangladeshi students are studying in Japan. The highest number of students is going to Japan from Bangladesh in this region.

Japan would continue its support to Bangladesh for socio-economic development, the ambassador assured.