Japanese investors announce USD 1.2 billion investment plan for Bangladesh’s tourism sector

Dhaka: Japanese investors have announced plans to invest an initial USD 1.2 billion in Bangladesh’s tourism and hospitality sectors, according to a press release issued by the Ministry of Civil Aviation and Tourism.

The announcement came at a meeting between Japanese investor representatives and Civil Aviation and Tourism Minister M. Rashiduzzaman Millat at the ministry’s conference room at the Bangladesh Secretariat in the capital on 18 October.

Welcoming the proposal, the minister said the government would encourage foreign investment to unlock Bangladesh’s diverse tourism potential, which includes the Sundarbans, the world’s largest mangrove forest; Cox’s Bazar, known for its long, unbroken, natural sandy beach; and the tea gardens of Sylhet.

"Bangladesh warmly welcomes the interest of Japanese investors in investing in the country. Once their investment proposal is formally submitted, the government will take the necessary steps promptly," he said.

Millat added that the government was willing to work with foreign investors through public-private partnership (PPP) models to ensure mutually beneficial outcomes.

Describing Japan as a longstanding friend of Bangladesh, he said the country had contributed to the development of several important infrastructure projects in Bangladesh and that the government was ready to facilitate Japanese investment in tourism.

The Japanese delegation expressed its interest in investing in Bangladesh and said it was ready to work jointly to develop the country's tourism sector.

The minister also said the Bangladesh Tourism Board would arrange visits to potential tourist destinations for the investors as soon as possible.