Japanese companies relocating to Bangladesh from China to get govt subsidy

Bangladesh has been added to the list of countries which will qualify for subsidy for the Japanese companies which shift their production base out of China. 

In order to diversify its supply chain, Japan has decided that Japanese manufacturers will now be eligible for subsidies if they shift production out of China to India or Bangladesh, reports the Nikkei Asian Review. The supplementary budget of Japan for the fiscal year 2020 has earmarked dollar 221 million for companies that move production to Southeast Asian countries.

In the first round of subsidies announced last month, 30 companies such as the Med-Tech and IT company Hoya decided to shift base to Vietnam and Laos. Another 57 companies are receiving financial support to shift base to Japan.

The program falls under the broader effort of Supply Chain Resilience Initiative (SCRI) initiated by Japan in the backdrop of the recent disruption  in medical supplies and electrical components after the COVID 19 pandemic hit the world. 

Meanwhile, Japanese Ambassador to Bangladesh Ito Naoki announced on Thursday that Japan would make investment in the Araihazar special economic zone, which will be the largest investment in Asia. He also announced that Japan was thinking of setting up an automobile factory in Bangladesh. 

Click to comment

Leave a Reply

Your email address will not be published.

1 × 3 =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us