‘Bangladesh less investment-friendly than regional competitors’

Business Desk :
According to Japanese companies, Bangladesh is less environment-friendly than its competitors in the region, Japanese envoy Iwama Kiminori in Dhaka told a media briefing in the city on Wednesday.
Referring to the impression of the Japanese companies regarding the investment climate here, he said that tax policy, duties and long delay in approving investment proposal are the major issues which hinder the FDI.
“There are so many issues that the Japanese companies might think that it is not so investment-friendly for the Japanese or foreign companies and in fact, there are so many competitors in the neighbouring countries and in ASEAN countries,” he said adding that there are certain things that the Japanese companies still cling to the notion that this is not so investment-friendly as other countries are.
Mr Kiminori was briefing media on the recent visit of Bangladesh Prime Minister Sheikh Hasina to Japan.
He dealt with issues related to defence cooperation, Indo-Pacific, regional connectivity, development, Rohingya crisis and sociology-economic cooperation during the briefing.
Responding to a question, he said that getting duty free facilities after the LDC graduation will be very difficult for Bangladesh and it has to be ready to face this reality.
He mentioned that both countries are in talks on devising economic partnership agreement and on FTA and through further discussions some kind of mechanism to provide trade support to Bangladesh can be devised. The envoy said the recent summit meeting emphasised on enhanced security cooperation between the two countries and Japan has shown interest to sell defence related equipment.
“And it is indeed true that we have been discussing the possibility of providing some equipments or with some facilities or some defense related items,” he said adding that he did not want to disclose further details as discussions are underway.
About the Indo-Pacific he said Japan lauded Bangladesh for announcing its own Indo-Pacific policy and both countries committed to work together for a free and open sea.
“As far as the Pacific regions are concerned, as I mentioned, there are so many issues, so many entities, and when we talk about Indo Pacific, not only the this region but also as I mentioned Pacific Islands and the Southeast Asia and we see the very acute threat and water security concern on our surrounding areas” he said.
Terming the Japanese Indo Pacific. Inception as an inclusive one he further said ‘Our goal is not to ask the other countries to take sides with us, but to enhance the connectivity so that we can enjoy freedom of navigation freedom of connectivity in the region, not only in the South Asian but also ASEAN for the Pacific Islands.”
Showing similarities between the Indo Pacific policies of both Bangladesh and Japan he said, “I think we are on along the same line, we are not asking whether or not you belong to us for them or something like that.”The free and open Indo Pacific means not only the economic development but also strengthening the defence and security cooperation, as we have done before, he added.