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Bad image hurts foreign investment

Says industries minister at Japan Trade Fair

Star Business Report
The government is trying to brighten Bangladesh’s image to attract more foreign investment, said the industries minister at the Japan Trade Fair that began yesterday.
"Foreign investment has suffered because of the country's negative image about political instability in previous years. We have to change the image to attract more foreign investment to the country,” said Dilip Barua.
"We will take steps to encourage and facilitate foreign investment to the country, as the government Is investment-friendly. At the same time, we will move to create a more investment friendly political atmosphere in the country."
The minister inaugurated the three-day trade fair, organised by the Japan Bangladesh Chamber of
Commerce and Industries (JBCCI) at Bangabandhu International Conference Centre in Dhaka.
“In addition to attracting new investment in the country, the government is also enthusiastic about strengthening domestic industrial capacity and diversifying the export basket to boost local economy," added the minister.
Annisul Huq, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said the government should take measures to increase the confidence level of both local and foreign investors.
"The government should ensure good governance and facilitate present and future investments in the country," he said.
"We should take lessons from Japan to boost our economy. Japan
took effective measures to reconstruct the economy after the massacre in the Second World War and now it is one of the largest and strongest economies in the world," he added.
Tamotasu Shinotsuka, ambassador of Japan, said his government is keen to enhance bilateral trade relations and investment between the two countries.
"Simultaneously, there is good demand for Bangladeshi products on the Japanese consumer market. Local entrepreneurs can take advantage of this opportunity by diversifying their products and increasing export volumes to Japan, " he added.
Abdul Haque, president of JBCCI, and Toshihito Tamba, president of Japan-Bangladesh Committee for Commercial and Economic Cooperation, were also present at the ceremony.
The Embassy of Japan, Japan External Trade Organisation and Japanese Commerce and Industry Association in Dhaka are supporting the event.
Along with several Japanese government and semi-government organisations, 45 companies are showcasing products and services at the fair, which includes automobiles and spare parts, electronics, capital machinery, IT equipment, leather products, shipping and logistics.
Aktel is sponsoring the fair, while Windmill Advertising Ltd is managing the event. The Daily Star, Channel i, Daily Samakal and ABC Radio are the media partners for the three-day fair.
The entry fee has been fixed at Tk 20 for a person and the all proceeds from ticket sales will go to charity.