Ctg holds potential as next ‘global industrial hub’

Chattogram, preparing to become the country's trade and investment growth engine, offers immense business prospects for Japanese investors as it bridges South Asia and Southeast Asia, analysts told a webinar yesterday.

Home to the biggest sea port, the economic prospects are bright because of the implementation of mega infrastructure projects and capacity enhancement of the port, they said.

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The Chittagong Chamber of Commerce and Industry (CCCI), Japan External Trade Organization (Jetro) and Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) organised the event seeking to attract Japanese investment to Bangladesh, particularly to Chattogram.

Around 160 persons from over 100 Japanese companies took part in the webinar.

CCCI President Mahbubul Alam said Japan and its private sector could bring in technology and experience of large-scale industrialisation and invest in Chattogram focusing ongoing mega infrastructural projects.

Bangladesh's youth population can be transformed into an asset with appropriate training while Japan has the capital and investment to act as a leverage for this asset, he said.

Japan also has the technology required to serve the market of Bangladesh's growing middle-income population, he said.

The CCCI, Jetro and JBCCI established a "CCCI-Japan Desk" in December last year to strengthen bilateral business-to-business ties, he mentioned.

The CCCI-Japan Desk is run by partners Legal Counsel, New Vision Solutions and the Bangladesh Center of Excellence along with Jetro.

It aims to facilitate business ties between private sectors of the two countries through providing legal, business and market information, linkage and policy advocacy services.

Jetro Country Representative in Dhaka Yuji Ando highlighted Bangladesh's "excellent" economic situation and the potential Chattogram held towards transforming into a global industrial hub.

CCCI Vice President Syed M Tanvir, in a presentation, focused on business and economic potentials as well as the cultural and ethnic diversity of Chattogram.

Currently 20 Japanese manufacturing and trading companies are operational in Chattogram, he said.

JBCCI Secretary General Tareq Rafi Bhuiyan and JBCCI President Asif A Chowdhury also spoke.