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Japanese investors meet Investment Board chairman |
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August 10, 2000
Dhaka (UNB)- Japanese investors yesterday raised some problems but observed that investment situation here improved compared to that four years back as hurdles are getting marginalized. Their observations came in a meeting with Board of Investment executive chairman M Mokammel Haque at the BOI office yesterday (Wednesday) ahead of Japanese Prime Minister's tour. Prime Minister Yoshiro Mori arrives here August 19 on a two-day visit to Bangladesh at the invitation of Prime Minister Sheikh Hasina. The Japanese businessmen in Bangladesh discussed the problems facing the investors from Japan, which is the fourth-largest investor in this country with a registered investment amount of US$ 927 million. Poor infrastructure and services, political instability, poor transport and traffic system, lack of international-standard accounting system, delay in having utility services, fluctuation in exchange rates and bureaucratic red tape are among the common problems cited by the Japanese investors. All these problems are, however, getting marginalised, they noted and suggested that the pace should be speedier. The BOI chief gave a detail picture of legal and fiscal aspects as well as incentives offered by government and invited Japanese investors to make further investment and relocate their sunset industries. Executives of a number of Japanese firms, including JETRO, JEISN, Marubeni, Mitsubishi, Japan Garden City, KAFCO, Techno Textile Mills, Toka Ink (BD) Ltd, Hagihara Tech Ltd., Tanaka Group of Companies, were present in the meeting. |