Construct quality infrastructures to improve investment climate: Japanese ambassador

70 % of Japanese companies in Bangladesh are dissatisfied with the general business environment, he said

TBS Report

28 November, 2023, 06:30 pm

Last modified: 28 November, 2023, 06:42 pm

Japanese Ambassador to Bangladesh Iwama Kiminori speaking as the guest of honour at the inauguration of the Regional One Stop Service (OSS) Center on Tuesday (28 November). Photo: Jahir Rayhan/ TBS

“>

Japanese Ambassador to Bangladesh Iwama Kiminori speaking as the guest of honour at the inauguration of the Regional One Stop Service (OSS) Center on Tuesday (28 November). Photo: Jahir Rayhan/ TBS

In order to bring more investments, it is important not only to construct quality infrastructures but also to improve the investment climate, Japanese Ambassador to Bangladesh Iwama Kiminori said today.

“I would like to emphasise the importance of the One Stop Service Centers (OSSC) in terms of investments from Japan. We are all pleased with the achievement made by team Japan for the realisation of the quality infrastructure projects in recent years and in the coming days,” he said while speaking as the guest of honour at the inauguration of the Regional One Stop Service (OSS) Center on Tuesday (28 November).

Photo: Jahir Rayhan/ TBS

“>
Photo: Jahir Rayhan/ TBS

Photo: Jahir Rayhan/ TBS

The Bangladesh Economic Zones Authority (BEZA) inaugurated its first Regional One Stop Service (OSS) Centre at the Bangladesh Special Economic Zone (BSEZ), Araihazar, Narayanganj under the “Project for Capacity Building of BEZA on EZ Management and Investment Promoton (BEZIP)”, supported by the JICA.

Iwama Kiminori said, “According to the recent JETRO survey, 72% of Japanese companies are willing to expand their business operations in the coming one or two years in Bangladesh. However, about 70 % of the Japanese companies in Bangladesh are dissatisfied or slightly dissatisfied with the general business environment. In particular, efficiency in administrative procedures such as permits and licences is considered as one of the biggest challenges.

“That’s why, I do expect the OSSC in BSEZ to improve investment-related licensing procedures which would definitely lead to the promotion of more private investment from Japan as well as all over the world. Furthermore, these positive efforts made by BEZA and other relevant agencies would be the showcase and thus promote more foreign investment to Bangladesh as a whole, if the further OSSC would be developed for investors from abroad in other places.”

Speaking as the chief guest, BEZA Executive Chairman Shaikh Yusuf Harun said, “This regional OSS centre will fulfil all the needs of the investors. They will also get necessary guidelines and advice regarding licences, permits and other compliance issues of different government entities. 

“This is an important milestone of reducing time and cost and ease of business as the investors do not need to go to BEZA head office for such assistance.”

Ichiguchi Tomohide, chief representative of Jica Bangladesh Office said  JICA has also been implementing a technical cooperation project with BEZA’s Project for Capacity Building on EZ Management and Investment Promotion, also called the BEZIP. 

A tangible output of the project is to establish OSSC and significantly simplify the processes required for starting a business in Economic Zones, he said.

The Central OSSC was set up in BEZA in 2019 and OSSC in BSEZ is the first regional OSSC. 

“This centre will serve as a single window supporter of more than 100 licences and approvals in collaboration with BEZA and 29 departments of various ministries and agencies, and facilitate a seamless and expeditious process for businesses operating in BSEZ,” he added.

Aro Kawachi, managing director, Bangladesh SEZ Limited, Md Masumur Rahman, general manager (Admin), BEZA and project director, BEZIP, BEZA spoke on the occasion.

The Bangladesh Special Economic Zone jointly developed by the governments of Bangladesh and Japan on 1,000 acres of land in Araihazar, Narayanganj, is accelerating its construction efforts to start production early next year.

Latest news
Related news