Japan would facilitate investment worth one trillion yen or nearly $6.37 billion for the Bangladesh private sector, and an official pledge would be made during Prime Minister Tarique Rahman’s visit to the economic powerhouse next week.
The investment announcement would come at a joint presser following Tarique’s bilateral meeting with his Japanese counterpart, Sanae Takaichi, on Tuesday, reported Tokyo-based Nikkei Asia on Thursday, citing people familiar with the matter.
The investment would be made over the next five years, and would involve automobile and other manufacturing sectors as well as energy facilities, Nikkei Asia reported.
Parts of the investment would also be made by Japanese companies in the under-development Bangladesh Special Economic Zone. Japanese company Sumitomo Corp is among those working on the economic zone development, the Japanese media outlet reported.
The investment is aimed at strengthening Japan’s regional clout amid intensifying global geopolitical rivalries, Nikkei said, citing officials.