Bangladesh is called "Golden Bengal", an expression also mentioned in our national anthem. It is a land of opportunity and one of the top emerging markets of the 21st century.
Historically an import-oriented country, Bangladesh is gradually developing into an export base, and efforts to foster a positive business climate have successfully attracted a lot of Foreign Direct Investment (FDI).
At the Dhaka Office, we are constantly working to develop our business by keeping pace with such changes. While leveraging Mitsubishi Corporation's (MC) global network, we have raised our presence in some key projects in Bangladesh. Examples include supporting the construction of Bangladesh's longest bridge, which improved access to the nation's primary grain-producing region; contributing to the development of the telecommunications sector; setting up a fertilizer factory to support the agricultural sector; and installing meteorological radar to mitigate loss of human life and property when natural disasters strike.
Presently, Bangladesh's major exports include ready-made garments, jute, tea, software and frozen shrimp. Our office is helping to increase export earnings by exporting shrimp, garments, leather shoes and other products to Japan.
At the same time, we are striving to capitalize on opportunities to develop new infrastructure business, especially in the areas of power production, telecommunications, and oil and gas, while also pursing involvement in FDI. With the spirit of medium-term management plan "Innovation 2007", we are working hard to establish MC as a leading partner in Bangladesh's development.
"Where is Dhaka?" This may be a difficult question for many people around the world. Before being stationed in Dhaka this February, I had spent the majority of my career either stationed in China or working on China-related operations, but Bangladesh was very much a mystery to me too. In my experience, there aren't any comprehensive guidebooks on Bangladesh, at least in Japanese, so I am happy to have this chance to introduce Bangladesh to all of you and I hope this feature can spark greater interest in the country.
Bangladesh, meaning "country of Bengal", is a relatively young nation, having earned independence in 1971. It originally became independent in 1947 as part of Pakistan when India won independence from the British as conflicts between Hindu and Moslem populations escalated. But the union between the two wings of Pakistan did not last. In addition to being separated geographically, the nation was also divided linguistically, with Urdu being spoken in West Pakistan and Bengali being used in East Pakistan. When East Pakistan finally won independence as Bangladesh, Japan was the first country to recognize its independence and positive feelings toward Japan have prevailed ever since.
It was 1958 when the first MC employee was stationed in Dhaka. I am the 16th general manager of this office, which will mark its 50th anniversary next year. Over its long history, the office has made considerable contributions to the economic development of the country. The great efforts of MC staff before me are now beginning to take shape in the form of concrete projects and we are working to bring these endeavors to fruition.
One especially noteworthy project of this office is the provision of meteorological radar, installed at Cox's Bazar, through grant aid from the Japanese government. Each year, cyclones bring high winds and flooding to Bangladesh. These cyclones have been devastating, with causalities in the hundreds of thousands. The introduction of this radar will facilitate evacuations in times of emergency and we are proud to have played a role in bolstering the nation's safeguards against natural disasters.
Our office is also working to develop business in the apparel industry, Bangladesh's leading sector. In recent years, companies in Japan have been looking to strategically distribute risk by developing manufacturing bases both inside and outside China—an approach called "China plus one". People are now beginning to focus on Bangladesh as a prime location for developing such supplemental manufacturing bases and various kinds of industries are expected to be shifted here in the future.
In addition to drawing attention to the "BRIC"economies of Brazil, Russia, India and China, Goldman Sachs has also indicated a second tier of emerging economies called the "Next Eleven." Bangladesh is included in this group, largely thanks to the great potential of its workforce. In addition to its large youth demographic, Bangladesh's population, which at 1.4 billion surpasses Japan, is also sizeable. This is a key factor because, regardless of how quickly a nation grows, it cannot have a significant impact on the global economy unless it has a large population.
Before too long, I think consumers in Japan and around the world will see more and more products from Bangladesh and this office is working hard to help make this a reality. You can expect to hear a lot more from us in the years to come!
Bangladesh is located in South Asia, north of the Bay of Bengal. The country achieved independence in 1971 after a nine-month war for independence.
Bangladesh has a tropical monsoon-type climate, with mild winters (October to March); hot, humid summers (March to June); and a warm, rainy monsoon season (June to October). Bangladesh is an agricultural country, with some three-fifths of the population engaged in farming.
Bangladesh has attractive tourist spots, including the world's longest beach in Cox's Bazar in the southern part of the country. Western food is widely available in major hotels and large restaurants in cities. Dhaka also has many good international restaurants serving various dishes from around the world. The local cuisine is very tasty and recommended for visitors who want to try something exotic. There are many kinds of curries, cooked with various kinds of spices and hot curry powders. A favorite local dish is biriani. Cooked with rice and mutton or chicken, biriani is available in most restaurants. While leading hotels have bars, Western-style nightclubs do not exist in Bangladesh.
Dhaka, the capital city of Bangladesh, is a colorful and thriving metropolis of some 15 million people. Known around the world as a city of mosques and rickshaws, Dhaka is also famous for muslin, the plain-woven cotton fabric that originated here.
Dhaka has been quickly developing as a modern city and it now exhibits a splendid blend of new and old architectural styles. On the banks of the Buriganga River is Sadarghat, Dhaka's major waterfront district. Packed with river-craft of all shapes and sizes, Sadarghat is always brimming with activity.
There are many interesting places near Dhaka where one can see the unique way of life in Bangladesh and discover the nation's rich cultural heritage, such as Sonargaon, the ancient capital of Bengal, which is located less than 20 kilometers southwest of Dhaka.
MSK Dhaka Office (now MC's Dhaka Office) was opened in 1958 and MC has worked to elevate the social and economic situation of the people here ever since. In the early days, the staff visited customers by bicycle, riding on muddy, unpaved roads. They built ties with traders and other business people in Dhaka and helped to realize many challenging projects.
Bangladesh's first elevator was supplied by MSK (now MC) and MC was the first to introduce the power tiller as an alternative to the ox-driven wooden plough. As part of economic assistance, MC also brought the first fishing trawler to the Bay of Bengal.
Other episodes are tied to the larger history of Bangladesh, such as when former MC Chairman Chujiro Fujino visited our war-ravaged country in an effort to revive exchange and when MC's offices in Dhaka gave Japanese media the first news of the hijacking of a Japanese airliner in 1977. The hijacked airplane landed at Dhaka's small airport, but after smooth negotiations, the passengers were released unharmed and the relationship between Japan and Bangladesh was greatly strengthened.
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