Bold and effective action needed to attract more Japanese investors
A recent survey by the Japan External Trade Organization (JETRO) has revealed that Japanese investors see political and social instability as the biggest problem in doing business in Bangladesh.
However, despite these, most entrepreneurs have shown interest in expanding their business in this country, considering the cheap labour and market opportunities.
The survey was conducted in August-September last year, involving 13,727 Japanese companies in the Asia-Pacific region, including 175 companies operating in Bangladesh.
It found that the Japanese companies’ business confidence has increased and profits also improved in Bangladesh.
However, their profits have declined in some countries, such as China and Thailand, due to a decline in local demand.
According to the survey, about 58 percent of the companies that participated in the survey said that they are interested in expanding business in Bangladesh.
After Bangladesh in this list are: Vietnam, South Korea, Philippines, Taiwan and Laos.
The major advantages that Japanese businessmen have mentioned are Bangladesh’s cheap labour, market potential, easy access to workers and employees, tax breaks and incentives, and specialized manpower.
These are undoubtedly positive and Bangladesh can easily take advantage of these advantages.
But with 95 percent of Japanese companies in the survey considering political and social unrest as a risk to the business environment, resolving it is not easy.
And it cannot be done administratively alone. For this, political leadership must act responsibly.
If a businessman comes to invest here and often faces blockades, traffic jams and chaos, they will not come.
The unstable environment created in the country after the student and public movement in August last year is not supposed to last for so long.
But the reality is that that unstable environment remains, albeit at a reduced level.
Responsible behavior is expected from all parties involved in this regard.
The problems that Japanese businessmen have mentioned as obstacles to business are not difficult to solve. And not all of them are related to money.
We recognize the need for money to solve the power shortage, infrastructure and communication problems.
But additional money is not needed to resolve bureaucratic complexities.
The goodwill of the government is enough. For many years, we have been hearing about one-stop services from the government in the field of business and commerce. But in reality, there has not been much progress.
The political government has spent years giving promises to businessmen. We hope the interim government will take bold and effective steps in this regard.