Marubeni Corporation, a leading Japanese business conglomerate, has expressed interest in expanding its investments in Bangladesh. The company is also keen on establishing a second KAFCO (Karnaphuli Fertilizer Company Limited) in the country.
On Sunday (October 11) morning, a high-level delegation led by Masayuki Omoto, President and CEO of Marubeni Corporation, paid a courtesy call on Prime Minister Tareq Rahman at the Prime Minister’s Office in the Secretariat.
Marubeni expressed this interest during the discussions. The Prime Minister’s Deputy Press Secretary, Shahadat Swadhin, confirmed this.
During the meeting, the delegation members discussed with the Prime Minister potential investments in information technology, artificial intelligence (AI), cybersecurity, fertilizer, and energy sectors, as well as the possibility of establishing a second Karnaphuli Fertilizer Company Limited (KAFCO) in the country.
At this time, the Prime Minister highlighted various government initiatives aimed at harnessing Bangladesh’s economic potential, creating new jobs, and attracting domestic and foreign investments. He welcomed Marubeni Corporation’s investment in Bangladesh’s information technology, fertilizer, and energy sectors.
The Prime Minister stated that Bangladesh has a long-standing business relationship with Marubeni Corporation regarding jute products. He emphasized strengthening mutual cooperation in new sectors alongside expanding this existing relationship.
The meeting also discussed the potential of Bangladesh’s information technology sector, skilled human resource development, and enhancing the country’s capacity as an international service hub.
Furthermore, the Prime Minister outlined the government’s plan to further enhance the skills of Bangladeshi engineering graduates in information technology and cybersecurity, stating, ‘By leveraging its skilled workforce, technological capabilities, and competitive service opportunities, Bangladesh can develop into a significant international service center.’
The meeting also discussed plans to launch an artificial intelligence-based data center in Bangladesh within the next year. The potential for Marubeni Corporation’s investment and technological cooperation in this project was also reviewed.
The expansion of modern technology and artificial intelligence in the agricultural sector of agrarian Bangladesh also received significant attention in the meeting. Both parties discussed the potential for Marubeni’s investment and technological cooperation to enhance the use of technology in agricultural production and management.
Additionally, regarding cooperation in the fertilizer production sector, the expansion of Marubeni Corporation’s existing investment in KAFCO was brought up during the meeting. Simultaneously, the possibility of establishing a second KAFCO in the country was also discussed. Marubeni Corporation expressed interest in this matter.
During the meeting, it was hoped that the implementation of the Economic Partnership Agreement (EPA) between Bangladesh and Japan would further strengthen trade and investment relations between the two countries.
During this time, State Minister for Foreign Affairs Shama Obaid Islam, Prime Minister’s Information and Technology Affairs Adviser Rehan Asif Asad, and Prime Minister’s Special Assistant Shakirul Islam Khan were present.
Representing Marubeni Corporation were Susumu Wakamori, CEO for the Southwest Asia region, and Manabu Sugawara, the company’s Country Head in Bangladesh.