The Matarbari deep sea port of Chattogram district would transform Bangladesh into the gateway to South Asia, said Yuji Ando, country representative of Japan External Trade Organization, on Wednesday at a meeting with local business leaders in the port city.
The port, due to start operations in 2026, would become the country’s first deep seaport and its fourth seaport.
The meeting was participated by representatives from the Chittagong Chamber of Commerce and Industry, Japan External Trade Organization and Japan Commerce and Industry Association in Dhaka.
Japan is implementing the Matarbari port project and the aim is to “ensure a free Indo-Pacific where Bangladesh would be a major economic hub,” Yuji Ando claimed.
The recent Japan tour of Prime Minister Sheikh Hasina has been extensively successful, making the land of the rising sun a key strategic partner of Bangladesh, Yuji Ando added. Members of Japan commerce and industry circle have come to Chattogram city to invest more in the port city and expand business ties there, Yuji Ando said.
Mitsubishi Corporation, Fast Retailing Group – owner of Uniqlo brand – and Oriental Consultants Global are among the 16 renowned Japanese companies now travelling the port city to expand businesses there, according to the Chittagong Chamber of Commerce.
Chittagong Chamber of Commerce President Mahbubul Alam said ever since gaining independence in 1971, Japan has provided financial and technical assistance in developing Bangladesh’s education, health, fuel and logistics sectors. Bangladesh has now become a major investment hub for Japanese entrepreneurs and, seeing potentials for bilateral business opportunities further growing, the Chittagong Chamber of Commerce has already opened a Japan desk to boost cooperation.