Japan projects ¥1 trillion in private investment in Bangladesh, with 200,000 jobs expected

TOKYO, October 27: Japanese private investment in Bangladesh could reach ¥1 trillion over the next five years, potentially creating around 200,000 jobs, Japanese Prime Minister Sanae Takaichi said during summit talks with Bangladeshi Prime Minister Tarique Rahman on Tuesday.

According to Japan’s Ministry of Foreign Affairs, Takaichi also expressed her intention to send a business delegation to Bangladesh in the near future. Rahman welcomed the projected investment and highlighted the importance of Japanese businesses to Bangladesh’s development.

The summit began at 11:45 a.m. local time and lasted approximately 25 minutes. It was followed by a joint press appearance and luncheon. The leaders issued a Japan–Bangladesh Joint Statement after their talks.

A key outcome was an agreement to upgrade the Bay of Bengal Industrial Growth Belt, known as BIG-B, into a broader strategic cooperation initiative called “BIG-B for Shared Prosperity.”

The initiative will focus on four pillars: stronger connectivity; preparedness for natural disasters and geopolitical risks; public-private cooperation to create economic opportunities and develop rules; and cooperation for peace and stability. Both leaders agreed to work towards making the Bay of Bengal a region of shared prosperity, with Bangladesh serving as a hub.

The two governments also agreed to pursue the early entry into force of the Japan–Bangladesh Economic Partnership Agreement. They pledged to expand cooperation in trade and investment, agriculture, forestry and fisheries, the environment, climate change and aviation.

From longstanding friendship to stronger cooperation—Bangladesh and Japan look towards shared prosperity. (Photo: Cabinet Public Affairs Office)

Takaichi called for Rahman’s leadership in improving conditions for Japanese businesses operating in Bangladesh. Rahman said his government would work transparently towards that goal.

On security cooperation, Takaichi announced Japan’s decision to provide Bangladesh with a patrol vessel to strengthen its maritime security capabilities through security-contributing official development assistance. Both leaders reaffirmed their commitment to continued security and defence cooperation and to maintaining regional peace.

During the opening remarks, Takaichi congratulated Rahman on taking office and expressed support for Bangladesh’s ability to make independent decisions and withstand challenges amid growing international instability. She said Japan intended to deepen bilateral ties under the countries’ Strategic Partnership and its updated Free and Open Indo-Pacific framework.

Rahman described Japan as a peace-loving nation and one of the first countries to recognise Bangladesh’s independence. He said Japan held a special place in the hearts of Bangladeshis and pledged to work with Takaichi to take relations to new heights.

The leaders also discussed Myanmar and North Korea, including nuclear and missile issues and the abductions issue. Following the appointment of Bangladeshi Foreign Minister Dr Khalilur Rahman as president of the 81st session of the United Nations General Assembly, they reaffirmed their intention to coordinate their efforts at the UN.

Source: Ministry of Foreign Affairs of Japan.