Tokyo pledges continued development support as Dhaka seeks to transform traditional aid ties into a mutually beneficial economic partnership

MM Rahmatullah: Bangladesh`s four-day official visit to Japan has opened up prospects for Japanese private investment of up to 1 trillion yen, equivalent to around US$6.3 billion, over the next five years, with the potential to generate approximately 200,000 jobs in Bangladesh.

The visit also reaffirmed Tokyo`s commitment to continued development assistance, infrastructure financing, technology transfer and human resource development, marking a significant move towards transforming the longstanding bilateral relationship into a broader economic and investment partnership.

State Minister for Foreign Affairs Humaiun Kobir disclosed the outcomes at a press conference at the Foreign Ministry on Friday, briefing journalists on Prime Minister Tarique Rahman`s October 26-29 visit to Japan.

Describing the visit as effective and fruitful, Kobir said the discussions had reinforced Japan`s development partnership with Bangladesh while creating new opportunities for investment, employment, technology and industrial development.

He said the outcomes reflected the government`s `Bangladesh First` foreign policy, which prioritises national interests, mutual respect and stronger international economic partnerships.

"Bangladesh will be an investment partner. Whoever we do business with, we will do it on the basis of an actual mutual investment partnership," the state minister said, stressing that the country wanted to move beyond its traditional dependence on concessional loans and development assistance.

A major outcome of the visit was the expression of interest in mobilising up to 1 trillion yen in Japanese private-sector investment in Bangladesh over the next five years.

According to Kobir, the proposed investment could create around 200,000 employment opportunities, offering a significant boost to the country`s industrialisation, export growth and job market.

He clarified that the amount represented potential private-sector investment rather than a government loan commitment.

A Japanese economic mission is expected to visit Bangladesh soon at a mutually convenient time to explore investment opportunities further, following consultations between the two countries.

The government will assess proposed investments based on national priorities, affordability, competitiveness and employment generation, ensuring that projects deliver tangible economic benefits.

The two countries also agreed to upgrade their longstanding Bay of Bengal Industrial Growth Belt (BIG-B) initiative to `BIG-B for Shared Prosperity`, reflecting a broader vision of economic cooperation.

The upgraded framework envisages integrated development of energy, deep-sea ports, industrial facilities, information and communication technology infrastructure and regional connectivity, alongside stronger public-private partnerships.

Kobir clarified that discussions during the visit concerning the initiative focused exclusively on bilateral economic relations between Bangladesh and Japan.

He said no third country was discussed, adding that any future regional arrangement involving other countries would require their participation in negotiations.

The state minister also assured that Bangladesh would protect its national interests and maintain transparency and accountability in international agreements.

Japan has reaffirmed its commitment to supporting Bangladesh`s major infrastructure and development projects.

Discussions covered the early operationalisation of the Third Terminal at Hazrat Shahjalal International Airport, accelerated implementation of Dhaka`s Mass Rapid Transit projects and possible Japanese cooperation in the construction, operation and management of Matarbari Deep Sea Port.

Prime Minister Rahman also expressed gratitude for Japan`s 50-billion-yen emergency support loan, equivalent to around US$314 million, aimed at strengthening Bangladesh`s economic resilience and ensuring stable energy supplies.

During a meeting with Japan International Cooperation Agency (JICA) President Dr Akihiko Tanaka, the Prime Minister stressed the need for timely completion of Japanese-funded projects and sought continued concessional financing and expanded technical cooperation.

Kobir said Bangladesh would compare Japan`s future lending terms with other available international financing options to ensure affordability and economic benefits.

Attracting private investment and expanding industrial cooperation were among the key priorities of the Prime Minister`s visit.

Rahman held discussions with leading Japanese business organisations and corporations, including Fast Retailing, the parent company of UNIQLO, Marubeni Corporation, Mitsubishi Corporation and Toyota Tsusho Corporation.

The discussions focused on potential investment in Bangladesh`s ready-made garment sector, renewable energy, ICT, advanced manufacturing and infrastructure.

Technology transfer, skills development, environmentally sustainable production and export diversification also featured prominently.

Addressing the Japan-Bangladesh Economic Forum Dialogue, the Prime Minister invited Japanese businesses to explore Bangladesh`s growing investment opportunities.

Kobir said the government was committed to improving the business climate through greater transparency and reforms in taxation, customs clearance, remittance procedures and licensing.

Human resource development and technology transfer emerged as important components of the discussions.

The government sees Japanese investment not merely as a source of capital but also as an opportunity to develop skilled workers, modernise industries and improve Bangladesh`s competitiveness in international markets.

The Prime Minister`s visit to Toyota`s Motomachi manufacturing facility in Nagoya on October 29 was particularly significant in this regard.

Company officials expressed interest in establishing manufacturing operations in Bangladesh for automobiles and other machinery, potentially opening a new chapter in the country`s industrial diversification.

Rahman also visited JERA`s LNG terminal and power plant in Futtsu and a logistics hub in Chiba Prefecture to gain practical knowledge about energy infrastructure and logistics management.

Kobir clarified that the LNG facility visit was intended to gather technical experience relevant to Bangladesh`s energy development plans, rather than negotiate LNG imports from Japan.

During the visit, Bangladesh and Japan signed six cooperation agreements and memorandums of understanding covering economic relations, improvement of the business environment, agriculture, fisheries and livestock, coastal security, climate cooperation and information technology.

Arrangements relating to investment facilitation and local government development were also finalised.

The two countries reaffirmed their commitment to cooperation in sustainable urbanisation, healthcare, disaster management, environmental protection, human resource development and balanced regional growth.

Bangladesh also sought Japan`s continued engagement in finding a sustainable solution to the Rohingya crisis.

Beyond economic issues, the two Prime Ministers exchanged views on global peace and stability, freedom of navigation and overflight, reform of the United Nations Security Council and nuclear disarmament.

The discussions reflected the growing strategic importance of Bangladesh-Japan relations at a time when Bangladesh is seeking to diversify its international economic partnerships and attract investment to sustain long-term growth.

The latest outcomes suggest that Dhaka and Tokyo are seeking to redefine their relationship from one traditionally centred on development assistance and infrastructure financing to a more comprehensive partnership based on private investment, industrial cooperation, employment generation and technology transfer.

For Bangladesh, the key challenge will now be translating the investment prospects and cooperation agreements into actual projects, new industries and sustainable employment.