PM Tarique invites Marubeni to invest in IT, fertiliser, energy

photo: collected

Prime Minister of Bangladesh Tarique Rahman on Sunday invited Japanese conglomerate Marubeni Corporation to invest in Bangladesh's information technology (IT), fertiliser and energy sectors, as his government seeks to attract domestic and foreign investment, reports BSS.

A high-level delegation led by Marubeni President and CEO Masayuki Omoto met the prime minister at his office at the Bangladesh Secretariat, his Deputy Press Secretary Shahadat Shadhin said.

During the meeting, Tarique highlighted longstanding business ties between Bangladesh and Marubeni in jute products and called for expanding cooperation into new sectors, Shadhin said.

Discussions covered investment opportunities in IT, artificial intelligence (AI), cybersecurity, fertiliser and energy, as well as a proposal to establish a second Karnaphuli Fertilizer Company Limited (KAFCO) plant in Bangladesh.

The two sides also discussed the country's IT potential, skilled workforce development and prospects for becoming an international services hub.

Tarique outlined the government's plans to improve the IT and cybersecurity skills of Bangladeshi engineering graduates, saying the country could strengthen its position as an international services hub by leveraging its workforce, technological capabilities and competitive services.

The possibility of establishing an AI-powered data centre in Bangladesh within the next 12 months was also discussed, along with potential investment and technical cooperation from Marubeni.

The meeting also explored the use of modern technology and AI in agriculture to improve production and management, with Marubeni potentially providing investment and technical assistance.

On fertiliser production, the two sides discussed expanding Marubeni's existing investment in KAFCO and establishing a second plant. Marubeni expressed interest in the proposal, Shadhin said.

The meeting also expressed optimism that the Bangladesh-Japan Economic Partnership Agreement (EPA), once implemented, would further strengthen trade and investment ties between the two countries.

State Minister for Foreign Affairs Shama Obaed Islam, Prime Minister's Adviser on Information and Technology Rehan Asif Asad and Special Assistant to the Prime Minister Dr Md Shakirul Islam Khan attended the meeting.

Marubeni was also represented by its Chief Executive Officer for Southwest Asia Susumu Wakamori and its Bangladesh Country Head Manabu Sugawara.