68% of Japanese firms in Bangladesh plan to expand in 2022-23: JETRO

19 Apr '22

2 min read

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The export ratio of Japanese companies operating in Bangladesh is on the top among Asia and the Oceania countries as the ratio of exports to total sales by Japanese companies currently stands at 65.4 per cent, according to the Japan External Trade Organisation (JETRO), which recently said 68 per cent of Japanese companies operating in Bangladesh have expansion plans for 2022 and 2023.

JETRO country representative for Bangladesh Yuji Ando said around 65 per cent of Japanese companies operating in Bangladesh thought they can make a profit this year as the pandemic situation has improved. This contrasts to 43.2 per cent of the companies that were profitable last year.

He, however, said the companies reported complexities in rules and regulations as well as in loan processing, taxation, wage compliance and getting skilled manpower.

He was optimistic about business interest of Japanese enterprises in Bangladesh growing in future, according to Bangla media reports.

A total of 320 Japanese companies are engaged in business in Bangladesh.

Some 54.6 per cent of companies were willing to expand the function of sales, 45.5 per cent planned to go for the production of high-value products and 27.3 per cent for making general-purpose products, he said.

Over 15 per cent of companies intended to expand research and development activities to drive their business growth, he added.

Fibre2Fashion News Desk (DS)

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