Bangladesh, with a population of approximately 173 million and an abundant young workforce, has seen its export industries, led by garment manufacturing, grow. Lower corporate tax rates, special economic zones and export processing zones have been established as investment incentives.
Bangladesh, located immediately east of India, has a population of approximately 173 million and is attracting attention as a promising market with a large young population. Its export industries, led by garment manufacturing, have developed, and Japanese companies have increasingly expanded into the country.
Investment incentives in the country include lower corporate tax rates, export processing zones and special economic zones, enhancing its appeal as a production base. The article presents the example of Bangladesh attracting attention as one of the garment production hubs amid the shift away from China, as companies move production bases to ASEAN countries.
The number of Japanese companies operating there has increased year by year, from approximately 220 as of 2015 to approximately 338 as of 2023. Among the moves by major companies, Japan Tobacco Inc. (JT) acquired the tobacco business of Akij Group. The acquisition was valued at approximately ¥164.5 billion when announced, and was completed in November 2018 following the announcement in August of that year.