Japanese firm to expand business in Bangladesh infrastructure sector

TOA Corporation, a world renowned Japanese engineering company established in 1908, is planning for long to expand its operations in Bangladesh in line with the rapidly growing economy of the country.

As per its expansion plan, TOA established its branch office in Bangladesh in 2020 and since then is contributing to the land development works for Bangladesh Special Economic Zone Development under Foreign Direct Investment Promotion Project (FDIPP).

Known as a Japanese Economic Zone, it is a project under Japan’s Official Development Assistance (ODA).

TOA is also contributing in Bangladesh for the Bangabandhu Sheikh Mujib Railway Bridge Construction Project as a joint venture with two other Japanese companies- Obayashi Corporation and JFE Engineering Corporation.

According to the Japan External Trade Organization (JETRO), a total of 321 Japanese companies are currently operating their businesses in the country. The number was 83 in 2010.

Talking to BSS, General Manager of TOA Corporation Bangladesh Office Mitsuhiro Torii expressed his interest to contribute not only in Japan’s ODA projects, but also other infrastructure development projects.

He said as Bangladesh is a vastly populated country there are diversified business scopes here and those are attracting many investors to come and expand their business.

He urged the government to reduce the trade barriers, including complicated taxation system, high tax rate and high import and export tariff, and simplify the administrative system for inviting the foreign investors to invest in Bangladesh aggressively.

Torii stated that in order to run and expand business in Bangladesh, they need to acquire collaborations and supports from various local companies of Bangladesh and they will appreciate if such companies communicate with them and extend their hands to support them.