Japan and Bangladesh on Friday signed six Memorandum of Understandings on economic, investment and other cooperations on the third day of the ongoing visit of chief adviser Professor Muhammad Yunus to Japan on Friday, says a press release by CA press wing.
Professor Yunus witnessed the signing of the MoUs on the sidelines of a seminar titled 鈥楤angladesh Business Seminar鈥� in Tokyo, the press release added.
The first MoU involved the Japan Bank for International Cooperation and the energy and mineral resources ministry of Bangladesh.
The MoU is expected to strengthen cooperation between JBIC and Bangladesh to realise projects in the energy sector.
The second MoU was between ONODA Inc and Bangladesh SEZ Ltd for a land lease contract of BSEZ.
ONODA has implemented a gas meter installation project initiated by JICA and is planning to do new assembly manufacturing, inspection and maintenance of gas meters at the factory in BSEZ.
The third MoU involved Bangladesh Naxis Co. Ltd and Bangladesh SEZ Ltd for a land lease contract of BSEZ.
Bangladesh SEZ Ltd. (BSEZ) and Bangladesh Naxis Co. Ltd (Naxis) will sign a land sublease agreement. Naxis plans to manufacture apparel accessories at the factory in BSEZ.
The fourth MoU involved Glagit and Musashi Seimitsu Industry Glafit and the Bangladesh Investment Development Authority (BIDA) on support for setting up a factory for battery-run cycles and an electric motorcycle manufacturing plant.
The fifth MoU involves Cipher Core Co. Ltd, which is investing $20 million in its Bangladesh venture to launch a national pilot project for information security based on Complete Cipher Technology by award-winning inventor Takatoshi Nakamura.
The project aims to make Bangladesh a quantum-resilient digital economy, with exclusive rights granted to the local entity for technology deployment and global expansion.
The sixth MoU involves the Japan International Cooperation Agency and BIDA.
This MoU confirms JICA鈥檚 engagement to provide technical and in-kind support for the early-stage development of the Integrated Single Window Platform (ISWP).
This platform is a BIDA-led effort to consolidate the individual one-stop services currently operated by various investment promotion agencies across Bangladesh.
Speaking at the signing ceremony, Chief Adviser Professor Muhammad Yunus congratulated all parties involved.
鈥楴ow it is our task to implement. I am moved,鈥� he said.
Mentioning the situation Bangladesh faced in the past 16 years, the Chief Adviser said that country faced continuous earthquakes in the past 16 years which left nothing in shape.
鈥業n this situation a good friend came up... and that friend is Japan. I came here to thank you and design the next step,鈥� he said.
Calling the challenge historical, the Chief Adviser said, 鈥榃e want to show the history that it was done, done in a perfect way.鈥�
鈥榃e have kind of tightened our belt and say here we are to work. With your support it is doable.
鈥楲et鈥檚 put our hands together and execute it... it鈥檚 not about making money. It鈥檚 about changing people鈥檚 lives,鈥� he said.
Shinji Takeuchi, Parliamentary vice-minister of Economy, Trade and Industry (METI), noted at the event that the number of Japanese companies operating in Bangladesh exceeds now 300, three-fourths higher than 10 years ago.
Norihiko Ishiguro, Chairman and CEO, Japan External Trade Organisation (JETRO), delivered the welcome speech where Fumiya Kokubu, Chairman of Japan Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) and Director, Member of the Board, Executive Corporate Advisor, Marubeni Corporation, also spoke.
