Japan’s Marubeni keen to expand investment in Bangladesh, commerce minister assures support

Japan’s Marubeni Corporation has expressed interest in expanding its existing investments and investing in new industrial sectors in Bangladesh, while Commerce, Industries, Textiles and Jute Minister Khandakar Abdul Muktadir assured the company of government support.

At a meeting with a delegation led by Marubeni President and CEO Masayuki Omoto at the Ministry of Commerce in the Secretariat today (11 October), the minister said the government was working to simplify business procedures, reduce administrative complexities and create an investment-friendly environment.

The meeting discussed investment proposals in fertiliser production, information technology, energy, ship recycling and manufacturing Toyota-branded vehicles. The two sides also discussed progress on signing and implementing the Bangladesh-Japan Comprehensive Economic Partnership Agreement (CEPA), diversifying the jute industry, and expanding bilateral trade and investment.

Muktadir said Japanese technology, experience and investment could play an important role in developing Bangladesh’s manufacturing industries. He highlighted opportunities for joint ventures in shipbuilding and recycling, automobiles, agro-based industries and high-tech sectors.

He said the government was also working to develop higher-value diversified jute products rather than limiting the industry to traditional goods. Initiatives include blending jute fibres with cotton, viscose and polyester, developing improved seeds and expanding research. The government wants to utilise international technical cooperation and investment in these areas.

Omoto highlighted Marubeni’s long-standing business presence in Bangladesh and discussed opportunities to modernise the Karnaphuli Fertilizer Company Limited (Kafco), use natural gas efficiently and increase fertiliser production capacity.

He also expressed interest in new investment and technical cooperation for producing diammonium phosphate (DAP) and triple superphosphate (TSP) fertilisers.

On information technology, Omoto said hundreds of Bangladeshi engineers working at the jointly invested company BJIT provide services to Japan and other international markets. He noted opportunities to expand cooperation in artificial intelligence and IT offshoring.

The meeting also discussed environmentally friendly technologies and investment in ship recycling, the proposal to manufacture Toyota vehicles, and uninterrupted power supplies to economic zones. Small modular reactor (SMR) technology was also discussed as a potential alternative for long-term energy security.

The minister said the government was prioritising simpler company registration, trade licensing and investment approval procedures, alongside ensuring opportunities for foreign investors to repatriate profits and capital.

Both sides stressed the importance of strengthening Bangladesh-Japan economic relations, utilising the potential benefits of CEPA and expanding long-term partnerships in industry and technology.