Labour wages in the Chinese textile and readymade garment sector is increasing so significantly that many Japanese companies operating in China are considering shifting their production to Bangladesh.
“Garment sector wages of the workers in China is four times higher than Bangladesh, so Japan wants to shift its companies to other countries, including Bangladesh,” maintained Country Representative of Japan External Trade Organisation (JETRO), D Arai, at a press conference in Dhaka recently while adding that Japanese investors are showing keen interest to invest in Bangladesh as the wages in the country is lowest among the Asian and Oceania countries as well as one of the lowest in the region.
Japan Bangladesh Chamber of Commerce and Industry (JBCCI) organised the press conference, titled “Current Trend of Japanese Companies in Bangladesh”.
Underlining the importance of Bangladesh from Japan’s perspective, JETRO Country Representative maintained that the 2016 Holey Artisan terrorist attack (which witnessed many Japanese citizens, working the in the country perish) failed to impact the relations between the two countries.
“About 270 Japanese companies are operating their business in Bangladesh. Even after the Holey Artisan incident in 2016, no single Japanese company withdrew business from the country,” observed Arai while adding that around 70 per cent of the Japanese companies in Bangladesh want to expand their business in the next one to two years as their confidence has improved.
Among others, JBCCI Vice President Shariful Alam, Director Masud Karim, Adviser Akhtaruzzaman and Honorary Executive Director Dr AKM Moazzem Hussain were present at the press meet.
