Japan’s Marubeni Corporation has expressed interest in expanding its investment in Bangladesh, including in information technology (IT), artificial intelligence (AI), cybersecurity, fertiliser and energy, with the possibility of establishing a second KAFCO fertiliser plant also discussed.
The interest was expressed at a meeting between Prime Minister Tarique Rahman and a high-level delegation led by Marubeni Corporation President and Chief Executive Officer Masayuki Omoto at the Prime Minister’s Office at the Secretariat on Sunday.
The meeting discussed ways to expand Japanese investment in Bangladesh, strengthen bilateral trade relations and explore new areas of cooperation in promising sectors of the economy.
Tarique Rahman said the government was working to ensure a favourable investment climate for both domestic and foreign investors to harness the country’s economic potential and create new employment opportunities.
In this context, he welcomed Marubeni’s investment in Bangladesh’s IT, fertiliser and energy sectors.
The prime minister noted that Bangladesh had a longstanding business relationship with Marubeni in jute products. He stressed the importance of expanding the existing relationship while broadening cooperation into new sectors.
Marubeni representatives said they were seriously considering Bangladesh’s investment potential.
The meeting also discussed the growing prospects of Bangladesh’s IT sector and plans to develop a skilled workforce in the field.
Discussions included government plans to enhance the skills of engineering graduates in IT and cybersecurity. It was noted that Bangladesh could emerge as an important international service hub by leveraging its skilled workforce, technological capabilities and competitive service offerings.
Plans to launch an AI-based data centre in Bangladesh within the next 12 months also came up for discussion, along with Marubeni’s interest and potential investment in the sector.
Given Bangladesh’s agriculture-based economy, the meeting also explored opportunities to expand the use of modern technology and AI in agriculture, including potential investment and technological cooperation with Marubeni.
The delegation and the government also discussed expanding Marubeni’s existing investment in Karnaphuli Fertiliser Company Limited (KAFCO) and the possibility of establishing a second KAFCO fertiliser plant in the country. Marubeni expressed interest in the proposal.
The meeting expressed optimism that the Economic Partnership Agreement (EPA) between Bangladesh and Japan, once implemented, would further strengthen trade and investment ties between the two countries.
Among those present were State Minister for Foreign Affairs Shama Obaed Islam, Prime Minister’s Adviser on Information and Technology Rehan Asif Asad, and Prime Minister’s Special Assistant Shakirul Islam Khan.
The Marubeni delegation also included Susumu Wakamori, the company’s chief executive officer for South-West Asia, and Manabu Sugawara, its country head in Bangladesh.