Bangladesh opens Japan hub port and expects to promote expansion

The hub port in Bangladesh, which is being developed with the support of Japan as a new international logistics hub in South Asia, was opened to the people involved in Japan companies, and it was expected that it would lead to the promotion of expansion into Bangladesh, which has a population of nearly 1 million and is attracting attention as a production base.

The development status of Matarbari Port in Cox's Bazar in southern Bangladesh was released on the 26th.

Bangladesh is located between India and Southeast Asia and is a key point facing the Bay of Bengal, but until now there has been no deep port, and large container ships have not been able to enter the port.

Matarbari Port has a depth of more than 16 meters and can accommodate large container ships, and JICA = Japan International Cooperation Agency (JICA) is going to finance about 3000% of the total project cost of more than 7 billion yen Japan.

Japan hopes to support the development of Bangladesh, which has a population of nearly 1 million and remarkable economic growth, by developing it as a new international logistics hub in South Asia.

Representatives of Japan companies also expected that it would lead to the promotion of the company's expansion.

Tatsuya Machida, Minister-Counselor of the Embassy of Japan in Bangladesh, said, "Bangladesh is attracting attention as a consumer market and production base, and I hope that the development of the port will deepen economic ties with Japan."

Bangladesh continues to grow, and the number of Japan companies expanding into Bangladesh is increasing

Bangladesh, which continues to grow economically, is expected to be a huge consumer market with a population of nearly 1 million, and is also attracting attention as a production base against the backdrop of cheap labor.

The number of Japan companies expanding into Bangladesh is also increasing, and according to JETRO = Japan Trade Promotion Organization, there were 7000 companies as of March 2023, which has almost doubled in 3 years.

In addition, in the suburbs of the capital Dhaka, a special economic zone that major Japan trading companies are developing together with the Bangladesh government opened in December 338, and Japan companies are actively trying to expand into Bangladesh, which has great economic potential.