Tokyo has attached a set of conditions including ‘single window’ facility for ensuring a speedy approval process for investment in Bangladesh, said the officials.
They have also asked to simplify the procedure for getting VISA, work permit and so on to boost economic relations and step up Japanese investment in Bangladesh.
The Japanese side put forward the condition ahead of the first meeting of the proposed Bangladesh-Japan Public-Private Economic Dialogue, scheduled to be held in Dhaka on August 21.
Japan expressed willingness to invest for development of industrial sites and the special economic zones, said officials of finance ministry.
The Japanese investors are giving more focus on the SEZs with ready infrastructure and they have set their sight on sectors like shipbuilding, pharmaceuticals and electronic products for their potential investments.
The official said that Dhaka was ready to meet such Japanese conditions, but would stress on investments on jute and textiles and export of skilled and unskilled workers from Bangladesh to Japan. Dhaka would also like to see transfer of technology from Japan, said the officials quoting the position paper of the homeside.
The dialogue has been scheduled after the prime ministers of Bangladesh and Japan in a joint statement in late May had agreed to form a joint platform to enhance bilateral investment.
Prime minister Sheikh Hasina visited Japan from May 25 to May 28, this year.
Dhaka badly needs foreign direct investment for improvement of the economy which is facing a slump in private investments from the local and the foreign investors.
FDI in Bangladesh reached US$ 1.59 billion in 2013, up from US$ 1.29 billion in 2012.
But the country is still one of the lowest FDI recipient countries in the region as countries like Vietnam, China and India are receiving much higher amount of FDI.
Investment by the local private groups was not encouraging that forced the Bangladesh Bank to reduce the credit growth to the private sector to 14 per cent from previous 16 per cent in the latest monetary statement made last late month.
Ahead of the dialogue, Prime Minister’s Office reconstituted 10-member secretary-level committee headed by the senior secretary of the PMO on August 5.
Tokyo promised to provide economic assistance worth US$ 5.9 billion to Dhaka over the next four to five years. Tokyo has already signed five loan agreements for around US$ 1.20 billion in last May with Dhaka to finance the country’s five large projects with Japanese low-cost fund.
-With New Age input
