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Minister urges Japanese to set up joint venture companies

Toto launches sanitary products

STAR BUSINESS REPORT
Jute Minister Hafiz Uddin Ahmad yesterday urged Japanese entrepreneurs to set up joint venture companies in Bangladesh.
Bangladesh is a investment-friendly country as it offers lucrative incentives for foreign investors, the minister said.
The minister was speaking as chief guest at the formal launching ceremony of sanitary products and plumbing materials of Japanese company Toto at Sheraton Hotel.
The minister also called on the Toto to establish a joint venture company in the country. "Toto should consider establishing a joint venture company with its local partner Tiles World in order to promote its products," he said.
Kazuo Sako, Toto General Manager-Japan, H
Miyaoka, General Manager, and Alvin Yong, Senior Assistant Manager in Singapore, H Harano, Vice President- Hong Kong of Toto, and Joarder Nowsher Ali, Chairman of Tilottoma and Tiles World, and Shahriar Sajjad, Managing Director of Tiles World, the local agent of Toto, were present at the function.
The minister also lauded Toto efforts for manufacturing products especially designed for people with physical disabilities.
Toto is a popular name in Bangladesh and its products have already been used in different important establishments like Zia International Airport, Chittagong International Airport, parliament building and Sonargaon Hotel, he added.
Established in 1917, Toto -- the first producer of vitreous China sanitaryware -- is now holding the 70 per cent of market share in Japan. Its
annual sale is around 3.5 billion US dollar.
Speaking at the function, Kazuo Sako, General Manager- Japan, said Toto is pioneer in producing sanitary ware, fittings and plumbing materials in Japan. Later, it joined hands with different companies in Indonesia, Korea, Germany, China, USA and Vietnam.
Joarder Nowsher Ali, Chairman of Tilottoma and Tiles World, said the country's present business-friendly environment has encouraged world renowned Toto to come to Bangladesh.
Toto products for disabled and elderly people are praise worthy, Joarder Nowsher Ali said.
Shahriar Sajjad said Tiles World is the only representative of Toto in Bangladesh.