Diplomatic Correspondent

Bangladesh and Japan signed six Memorandums of Understanding (MoUs) today to strengthen cooperation in economic, investment, and other areas.

The agreements were signed on the third day of Chief Adviser Professor Muhammad Yunus’s visit to Japan. The signing took place during the “Bangladesh Business Seminar” held in Tokyo, where Prof Yunus was present.

The first MoU was signed between the Japan Bank for International Cooperation (JBIC) and Bangladesh’s Energy and Mineral Resources Ministry. It aims to support energy sector projects in Bangladesh.

The second MoU was signed between ONODA Inc and Bangladesh SEZ Ltd. ONODA plans to lease land in the Bangladesh Special Economic Zone (BSEZ) to expand its work, including gas meter assembly and maintenance. The company had earlier worked on a gas meter project supported by JICA.

The third MoU was between Bangladesh Naxis Co. Ltd and Bangladesh SEZ Ltd, also for a land lease in BSEZ. Naxis plans to manufacture garment accessories at their new facility.

The fourth MoU involves a partnership between Glafit and Musashi Seimitsu Industry, along with the Bangladesh Investment Development Authority (BIDA). They plan to set up a factory to produce electric bikes and battery-run cycles.

The fifth MoU is with Cipher Core Co. Ltd, which will invest $20 million in Bangladesh to launch a national pilot project on digital security. The project, based on Complete Cipher Technology by inventor Takatoshi Nakamura, aims to help Bangladesh build a secure digital future and become resistant to quantum threats.

The sixth MoU was signed between the Japan International Cooperation Agency (JICA) and BIDA. JICA will provide technical support to help develop an Integrated Single Window Platform (ISWP). This platform will bring together various one-stop investment services into a single system to make things easier for investors.

Speaking at the event, Chief Adviser Prof Yunus praised all sides for their efforts and said the real challenge now is to make the projects happen.

He said Bangladesh had gone through difficult times over the past 16 years and many things were damaged. “In this tough situation, a good friend stood by us – that friend is Japan,” he said. “I came here to thank you and plan our next steps.”

Calling it a historic challenge, he said, “We want to show the world that we did it — and we did it the right way. This isn’t just about profit. It’s about improving people’s lives.”

Japanese Parliamentary Vice-Minister of Economy, Trade and Industry, Shinji Takeuchi, said the number of Japanese companies operating in Bangladesh has grown to over 300 — three to four times more than ten years ago.

Norihiko Ishiguro, Chairman and CEO of Japan External Trade Organisation (JETRO), gave the welcome speech. Fumiya Kokubu, Chairman of the Japan Bangladesh Committee for Commercial and Economic Cooperation (JBCCEC) and a senior official from Marubeni Corporation, also addressed the seminar.