Japan Visit Opens Prospect of $6.3 Billion in Private Investment and 200,000 Jobs, Says State Minister

Tokyo has reaffirmed its commitment to continuing development cooperation with Bangladesh during Prime Minister Tarique Rahman's four-day official visit to Japan. New prospects have also opened for increased private investment and human resource development, State Minister for Foreign Affairs Humayun Kabir has said.

He made the remarks on Friday (30 October) afternoon at a press conference at the Ministry of Foreign Affairs, presenting the outcomes of the Prime Minister's Japan visit from 26 to 29 October.

Humayun Kabir said: 'This visit reaffirmed Japan's commitment to continuing and expanding development assistance to Bangladesh, alongside creating greater opportunities for private investment and human resource development.'

The state minister said the visit served as an important step in transforming the two countries' long-standing development cooperation into a mutually beneficial economic and investment partnership. Calling the visit effective and fruitful, he said it further strengthened Japan's development partnership with Bangladesh and laid the foundation for a broader economic relationship centred on investment, employment, technology and human resources.

Humayun said the outcomes reflect the government's 'Bangladesh First' foreign policy, which prioritises national interest, mutual respect and stronger international economic partnerships. Bangladesh, he said, wants to move away from dependence on traditional concessional loans and development aid and build relationships based on investment, technology transfer, job creation and shared economic opportunity.

In the question-and-answer session, the state minister said: 'Bangladesh will be an investment partner. Whoever we do business with, it will be on the basis of genuine mutual investment partnership.' The emerging relationship between the two countries, he said, will be built on mutual respect and shared economic interest, with neither country in a subordinate or dependent position.

Highlighting one of the visit's most important outcomes, the state minister said Prime Minister Tarique Rahman and Japanese Prime Minister Sanae Takaichi welcomed the prospect of up to 100 billion yen — about $6.3 billion — in Japanese private investment in Bangladesh over the next five years. Such investment, he said, could create employment opportunities for about 200,000 people in Bangladesh.

Humayun Kabir made clear that the proposed investment refers to private-sector potential, not a promise of government loans. Asked when the investment might materialise, he said a Japanese economic delegation is expected to visit Bangladesh soon, at a mutually convenient time following consultations and joint ministerial-level discussions.

He said Bangladesh will carefully evaluate investment proposals taking into account national priorities, affordability, competitiveness and job creation. The government, he said, will prioritise investments that ensure proper returns against costs and protect the country's economic interests.

The state minister said the two countries agreed to upgrade the long-standing 'Bay of Bengal Industrial Growth Belt' (BIG-B) initiative into 'BIG-B for Shared Prosperity'. The upgraded initiative plans integrated development of energy, deep seaports, industrial facilities, ICT infrastructure and communications, alongside increased public-private cooperation. He made clear, however, that discussions under the initiative were confined to the Bangladesh-Japan bilateral economic relationship, saying: 'No third country was discussed.'

Humayun Kabir said Japan reaffirmed its commitment to continued cooperation on Bangladesh's major infrastructure and development priorities. Discussions covered preparations for the speedy opening of Hazrat Shahjalal International Airport's third terminal, accelerating Dhaka's Mass Rapid Transit (MRT) projects, and future Japanese cooperation in the construction, operation and management of the Matarbari deep seaport.

Prime Minister Tarique Rahman expressed gratitude for Japan's emergency support loan of 50 billion yen — about $314 million — to strengthen economic resilience and ensure energy supply stability. In a meeting with JICA President Dr Akihiko Tanaka, the Prime Minister stressed timely completion of Japanese-funded development projects and called for continued concessional financing and expanded technical cooperation. Asked about the terms of Japanese loans, Humayun said Bangladesh will evaluate future financing arrangements against other options available internationally to ensure affordability and economic benefit.

The state minister said human resource development, technical cooperation and industrial modernisation emerged as key priorities during the visit. The Prime Minister held talks with representatives of leading Japanese firms including Fast Retailing, the parent company of Uniqlo, Marubeni Corporation, Mitsubishi Corporation and Toyota Tsusho Corporation. Those talks focused on expanding Japanese investment in Bangladesh's garment industry, renewable energy, ICT, advanced manufacturing and infrastructure, and also covered technology transfer, skills development, environmentally friendly production and export diversification. The Prime Minister also took part in the Japan-Bangladesh Economic Forum dialogue and invited Japanese businesses to seize investment opportunities in Bangladesh.

Humayun Kabir said the government is committed to improving the business environment through greater transparency and reforms in taxation, customs clearance, remittances and licensing. During the visit, the Prime Minister toured JERA's LNG terminal and power plant in Futtsu and a logistics hub in Chiba Prefecture. The state minister made clear that the purpose of visiting the LNG facility was to gain practical experience and technical knowledge for Bangladesh's own energy infrastructure planning, not to discuss LNG imports from Japan. On 29 October, the Prime Minister also visited Toyota's production plant in Nagoya, where company officials reaffirmed their interest in setting up a plant in Bangladesh to manufacture cars and other machinery.

The state minister said six cooperation agreements and memoranda of understanding were signed during the visit covering economic relations, the business environment, agriculture, fisheries and livestock, coastal security, climate cooperation and information technology, and arrangements for investment support and local government development were also finalised. The two countries reaffirmed commitments to continued cooperation in sustainable urbanisation, healthcare, disaster management, environmental protection, human resource development and balanced regional growth. Humayun Kabir said Bangladesh also sought Japan's continued engagement in efforts to find a sustainable solution to the Rohingya crisis. The two prime ministers also exchanged views on global peace and stability, freedom of navigation by sea and air, UN Security Council reform and nuclear disarmament.