PM seeks Japan’s support to modernise KAFCO, explore 2nd fertiliser plant

Prime Minister Tarique Rahman today sought Japan’s cooperation in modernising the Karnaphuli Fertilizer Company Limited (KAFCO) and exploring the possibility of establishing a second fertiliser factory in Bangladesh as part of his government’s efforts to strengthen bilateral economic ties and attract Japanese investment.

He made the call during a courtesy meeting with Masumi Kakinoki, chairman of Marubeni Corporation and president of the Japan-Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC), at Hotel Imperial in Tokyo this afternoon (local time), said PM’s Deputy Press Secretary Shahadat Shadhin.

During the meeting, the Prime Minister called for increased Japanese investment in Bangladesh’s promising sectors, including information and communication technology (ICT), renewable energy and advanced manufacturing, highlighting significant opportunities through foreign direct investment (FDI) and public-private partnerships (PPPs).

Tarique Rahman said, “The government is committed to creating an investment-friendly environment by reforming regulations, simplifying investment approval procedures and strengthening public-private partnerships to make it easier for Japanese businesses to invest and operate in Bangladesh.”

He also praised Kakinoki’s leadership in promoting trade and economic cooperation between Bangladesh and Japan and thanked him for his role in expanding Japanese investment in Bangladesh and strengthening bilateral business ties.

Kakinoki expressed the hope that the effective implementation of the Economic Partnership Agreement (EPA) between the two countries would expand bilateral trade, increase Japanese investment and create new business opportunities.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Civil Aviation and Tourism Minister M. Rashiduzzaman Millat, Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humaiun Kobir , State Minister for Power, Energy and Mineral Resources Anindya Islam Amit, Prime Minister’s Adviser on Posts, Telecommunications and Information Technology and Science and Technology Rehan Asif Asad, Prime Minister’s Special Assistant for Overseas Employment in the Asia-Pacific region Dr Md Shakirul Islam Khan, Bangladesh Bank Governor Md Mostaqur Rahman and Additional Press Secretary Atikur Rahman Rumon were present, among others.

On October 11, a Marubeni delegation led by its President and Chief Executive Officer (CEO) Masayuki Omoto met the Prime Minister at the Prime Minister’s Office in Dhaka.

The meeting discussed cooperation in information technology, artificial intelligence (AI), cybersecurity, fertiliser and energy, as well as ways to expand Japanese investment in Bangladesh.

Earlier, Tarique Rahman arrived in Tokyo at 9:05am local time today on a four-day official visit, leading a 16-member high-level delegation.