Photo: Collected
Marubeni Corporation, one of Japan’s leading business houses, has expressed its interest in expanding investment in Bangladesh. The company is also interested in setting up a second Kafco in the country.
A high-level delegation paid a courtesy call on Prime Minister Tarique Rahman at the Prime Minister’s Office in the Secretariat this morning. The team was led by Masayuki Omoto, president and chief executive officer of Marubeni Corporation. Marubeni expressed this interest during the discussion there, said Shahadat Swadhin, deputy press secretary to the prime minister.
At the meeting with the prime minister, members of the delegation spoke about investment in the fertiliser and energy, information technology, artificial intelligence (AI) and cyber security sectors. The possibility of setting up a second Karnaphuli Fertilizer Company Limited (Kafco) in the country also came up in the discussion.
The prime minister at this time highlighted the government’s various initiatives to attract local and foreign investment, create new jobs and harness Bangladesh’s economic potential. He welcomed Marubeni Corporation to invest in Bangladesh’s information technology, fertiliser and energy sectors.
The prime minister said Bangladesh has a long-standing business relationship with Marubeni Corporation over jute goods. He stressed further expanding this relationship as well as strengthening mutual cooperation in newer sectors.
The meeting also discussed enhancing the country’s capacity as an international service hub, developing skilled human resources and the potential of Bangladesh’s information technology sector.
The prime minister also outlined a government plan to make Bangladesh’s engineering graduates more skilled in information technology and cyber security. He said, ‘By making use of skilled manpower, technological capability and the opportunity for competitive services, Bangladesh can grow into an important service hub at the international level.’
A plan to launch an artificial intelligence-based data centre in Bangladesh within the next one year was also a subject of discussion. The possibility of Marubeni Corporation’s technological cooperation and investment in this project was reviewed.
The issue of expanding the use of artificial intelligence and modern technology in the agriculture sector of agrarian Bangladesh also received importance at the meeting. Both sides spoke about the possibility of Marubeni’s technological cooperation and expanded investment with a view to increasing the use of technology in agricultural production and management.
On cooperation in the fertiliser production sector, the expansion of Marubeni Corporation’s existing investment in Kafco was raised. The possibility of setting up a second Kafco in the country was also discussed then, and Marubeni Corporation expressed interest in the matter.
The hope was expressed at the meeting that investment and trade relations between the two countries will be further strengthened once the Economic Partnership Agreement (EPA) between Bangladesh and Japan comes into effect.
State Minister for Foreign Affairs Shama Obaed Islam, the prime minister’s adviser on information and technology Rehan Asif Asad and the prime minister’s special assistant Shakirul Islam Khan were present at the meeting.
On the other side, Marubeni Corporation was represented by Susumu Wakamori, the company’s chief executive officer for the South-West Asia region, and Manabu Sugawara, its country head in Bangladesh.
