DHAKA: Japan, the long-lasting tested friend of Bangladesh, is considering the country as a potential land of investment with low labor cost.

Japan, one of key economic power of the world, wants to help multidimensional industrialization in the country.

So, this issue will get more importance during Japanese Prime Minster’s upcoming visit to Dhaka on September 6, said sources of the Foreign Ministry.

Joint economic talks have been held on the issue on investment at both the government and private levels. The government recently held a meeting with a Japanese mission for policy dialogue, which deals with the liberal foreign aids of Japan.

At the meeting, issues related to how Bangladesh can be provided with the help on infrastructure development and its interest, were discussed.

Foreign ministry high officials said Japanese investors are showing interest to set up large scale factories and to transfer their garments factories to Bangladesh from China, Cambodia, Vietnam and ASIAN countries.

Because, large numbers of Bangladesh’s population are youths, labor is cheap and Bangladesh’s rules and laws are investment-friendly, according to the officials.

To implement the Japan’s interest, Prime Minster Sheikh Hasina, during her visit to Japan, promised the Japanese investors of setting up a special economic zone on a land of 500 acres in Chittagong.

During that visit, Bangladesh Export Processing Zones Authority and Japan External Trade Organization signed an agreement regarding the matter.

A foreign ministry official, whishing anonymity, told banglanews that Japan wants to make Bangladesh as their investment center considering many facilities, which mainly requires investment friendly environment.

Uninterrupted power supply and other facilities including infrastructural development, easy licenses sanction laws are more necessary than the (stable) political environment, the official added.

The official went on saying that Japan helped on the Matarbari power project to make the uninterrupted power supply available.

Japanese Prime Minister Shinzo Abe will visit Dhaka on September 6 and 7, diplomatic sources said.

Earlier, Japan’s Vice-Minister for International Affairs Norihiko Ishiguro visited Dhaka ahead of Abe’s visit to Dhaka.

Former diplomat Ashfakur Rahaman told banglanews, “It is great news as Japan wants to stay beside Bangladesh, and they are considering the country as the land of opportunity due to low labor cast and other facilities.”

So, if all investment opportunities are provided to Japan, it will keep great role in the country’s industrialization, added the diplomat.

BDST: 1605 HRS, AUG 30, 2014