Tk 400cr Japanese investment in apparel industry

http://www.theindependentbd.com/business/finance/74160-tk-400cr-japanese-investment-in-apparel-industry.html

Tk 400cr Japanese investment in apparel industry

Women working in a garment factory in Gazipur, Bangladesh. Source: http://www.thedailystar.net/newDesign/news-details.php?nid=189141

Author / Source : BSS

DHAKA, Oct 7:  A group of leading Japanese apparel makers will invest about Tk 400 crore to set up manufacturing units in garment industry in Bangladesh, the second largest destination for garment outsourcing in the world. Leaders of Asian Apparel Production Network (AAPN), a Japan- based business association of major apparel companies, have shown the interest to invest here after a high-profile AAPN delegation visited Dhaka October 3-5, said a local apparel maker.

Masanori Kojima, chairman of AAPN and Kojima Lyric Garment Industries Ltd, a leading Japanese garment maker, led the delegation that consists of fifteen Japanese companies, most of them own garments factories in China, Vietnam and Myanmar.

Kojima Group, Okuda Sewing Co Ltd, Nagoyashoji Co Ltd, Rock Co Ltd, Yumine Group, Toris Rond Co Ltd, Takama Co Ltd, Nantong Group, Namba Sangyo Co Ltd, Thermofix group are among the companies of the delegation members.

Talking to BSS Thursday, Imrul Anwar Liton, managing director of Kojima Lyric Industries Ltd, a Dhaka-based Japan-Bangladesh joint venture, said most of the delegation members were apparel manufacturers-cum importers.

“The AAPN want to launch its next garment project in Bangladesh. I hope there will be a big Japanese investment of Tk 300-400 crore by the next year,” he added.

This investment would be least-financing of Japan fund and create employment opportunities more than for 10,000 people, Liton said, adding that they visited Dhaka to scoop out possibilities of investment in Bangladesh’s multi billion dollar garment industry.

“If Japanese companies invest in Bangladesh, the higher technology of the Japanese companies will help Bangladesh move to high-end apparel items and earn more forex,” he said.

“Bangladesh is one of the next destination countries when Japanese companies are thinking about China plus policy for expansion of their business”, he said quoting Masanori as saying.

The delegation visited factories of Bangladesh including Kojima Lyric in Gazipur, the first ladies suit manufacturing company in Bangladesh and also a Japan-Bangladesh venture.During the visit, the AAPN delegation met Japanese Ambassador to Bangladesh and chief of Japan International Cooperation Agency (JICA).

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