Japanese investors have expressed interest in making an initial investment of $1.2 billion in Bangladesh’s tourism and hospitality sector, prompting the government to pledge swift support for formal investment proposals and arrange visits to potential investment destinations.
The investment interest was expressed at a meeting between a Japanese business delegation and Civil Aviation and Tourism Minister M Rashiduzzaman Millat at the ministry’s conference room on Sunday.
Welcoming the interest, the minister said the government was keen to attract foreign investment to develop the country’s tourism industry and would take the necessary steps promptly once formal proposals were submitted.
“We warmly welcome the interest of Japanese investors in Bangladesh. The government will take the necessary measures quickly once their investment proposals are formally submitted,” he said.
Millat said Bangladesh had considerable tourism potential, citing the Sundarbans, Cox’s Bazar, the tea gardens of Sylhet and the country’s diverse natural, cultural and historical attractions.
He said the government wanted to work with international investors to develop the sector and create mutually beneficial business opportunities.
Highlighting the longstanding ties between Bangladesh and Japan, the minister acknowledged Japan’s contribution to Bangladesh’s infrastructure development. He said Japanese investors would be welcome to participate in tourism projects, including through public-private partnerships (PPPs).
Members of the Japanese delegation expressed their commitment to investing in Bangladesh and working with local stakeholders to develop the tourism and hospitality industry.
To help identify potential investment opportunities, the Bangladesh Tourism Board will arrange visits for the delegation to tourism destinations across the country, the minister said.
The proposed investment could help develop tourism infrastructure and hospitality facilities. However, details of the proposed projects, investment timeline and financing arrangements were not disclosed at the meeting.
The submission of formal investment proposals is the next step, after which the government will be able to assess the projects and determine what support may be required.