A delegation of Japanese investors on Sunday announced plans to invest an initial $1.2 billion in Bangladesh's tourism and hospitality sector, opening up fresh prospects for foreign investment in the country's largely untapped tourism industry.
The announcement came during a meeting with Civil Aviation and Tourism Minister M Rashiduzzaman Millat at the ministry's conference room in the Bangladesh Secretariat.
The Japanese investors expressed their strong interest in Bangladesh's tourism industry and readiness to work with the government to develop tourism infrastructure and hospitality facilities, according to a ministry press release.
Welcoming the investment announcement, Minister Millat assured the Japanese delegation of the government's full cooperation in facilitating their proposed investment.
“We are delighted to welcome the interest shown by Japanese investors in investing in Bangladesh. Once their investment proposals are formally submitted, the government will promptly take the necessary steps,” he said.
The minister said the government was keen to attract foreign investment in tourism through mutually beneficial public-private partnership (PPP) arrangements.
He stressed that the government would pursue a win-win approach to foreign investment, ensuring benefits for both investors and Bangladesh.
Highlighting the country's immense tourism potential, Millat said Bangladesh offers a unique combination of natural beauty, cultural heritage and diverse tourist attractions.
“Our country is home to the Sundarbans, the world's largest mangrove forest, Cox's Bazar, the world's longest uninterrupted natural sea beach, and the picturesque tea gardens of Sylhet,” he said.
The minister said the government was committed to developing the tourism sector by attracting international investment and improving tourism-related infrastructure and services.
Describing Japan as a longstanding and trusted development partner, Millat recalled its significant contributions to Bangladesh's major infrastructure development projects.
He expressed optimism that Japanese investment and expertise could play an important role in unlocking Bangladesh's tourism potential.
“Japan is an old friend of Bangladesh. The government is always ready to extend all necessary cooperation to Japanese investors interested in developing our tourism sector,” he said.
The minister also directed that necessary arrangements be made for the Japanese investors to visit prospective tourism destinations and assess investment opportunities.
He said a delegation from the Bangladesh Tourism Board (BTB) would promptly facilitate visits to potential tourism sites to help the investors identify suitable projects.
The Japanese representatives reaffirmed their interest in developing a long-term partnership with Bangladesh in tourism and hospitality.
The proposed $1.2 billion investment is expected to be taken forward through formal proposals to be submitted by the Japanese investors for government consideration.