Bangladesh, Japan sign 6 agreements during Yunus’ Tokyo visit

Bangladesh and Japan have signed six memoranda of understanding (MoU), focusing on economic assistance, investment and other areas of cooperation, on the third day of Chief Advisor Muhammad Yunus's visit to Tokyo.

The agreements were inked on Friday during the Bangladesh Business Seminar in Tokyo, according to state news agency Bangladesh Sangbad Sangstha (BSS).

One MoU was signed between the Japan Bank for International Cooperation (JBIC) and Bangladesh’s Ministry of Power, Energy and Mineral Resources, paving the way for JBIC to support the implementation of energy sector projects.

Another MoU was signed between ONODA Inc and Bangladesh SEZ Ltd (BSEZ), involving a land lease agreement in an economic zone.

ONODA has already implemented a gas metre installation project in Bangladesh, and now plans to set up a factory for the assembly, inspection, and maintenance of gas metres.

A separate land lease was signed between Bangladesh Naxis Co and BSEZ to manufacture garment accessories at a factory within the economic zone.

A fourth MoU was signed among Glagit, Musashi Seimitsu Industry Glafit, and the Bangladesh Investment Development Authority (BIDA). This agreement outlines plans to set up a manufacturing facility for battery-powered bicycles and electric motorcycles.

The fifth MoU was signed with Cipher Core Co Ltd, which will invest $20 million in Bangladesh to launch a pilot project using Cipher technology to enhance data security. The project plans to support Bangladesh's transformation into a quantum-resilient, digital economy.

The sixth MoU was signed between the Japan International Cooperation Agency (JICA) and BIDA.

Under this agreement, JICA will provide technical support to BIDA in their development of the Integrated Single Window Platform (ISWP).

The ISWP aims to consolidate the services of various investment promotion agencies under one roof.

Congratulating all parties involved, Yunus said: “Now it is our task to implement [the agreements].”

Comparing the 16-year Awami League regime to a series of earthquakes, he said the interim government is trying to pick up the pieces in its aftermath.

“In this situation a good friend came up... and that friend is Japan. I came here to thank you and design the next steps,” he said.

Yunus added, “Let’s put our hands together and execute it. It's not about making money. It’s about changing people’s lives.”