DHAKA, July 9, 2021 (BSS) - JFE Engineering Corporation, a Japan based world-leading "Comprehensive Engineering Company", is optimistic about its prospect in the infrastructure sector of Bangladesh as it is one of the most rapidly developing and high potential countries.

For this, the 109-year old engineering company has planned to expand more their activities and contribute to the high quality and sustainable infrastructure development of Bangladesh.

In line with this, the Japanese firm recently joined hands with other two Japanese companies to construct the Bangabandhu Sheikh Mujib Railway Bridge over the Jamuna River.

Talking to BSS, General Manager of the JFE Engineering Corporation Takahashi Gen said JFE Corporation has expanded their business in the country a couple of years ago and since the beginning, the firm is contributing to the proper infrastructure development of Bangladesh.

Earlier, he informed that the firm worked for constructing Kanchpur, Meghna and Gumti second bridges and rehabilitation of existing bridges.

The construction of the bridges was completed around seven months before the scheduled time, he mentioned.

As per an official of the Roads and Highways Department (RHD), around Taka 1,400 crore was saved from the estimated cost in the construction of the three bridges.  

However, Takahashi Gen said, they know there are several concerns and issues such as COVID-19, time-consuming and costly export and import procedure, complicated rules and regulations and high Advance Income Tax (AIT).

However, he observed that the potentiality and attractiveness well exceed the concerns and issues.

Bangladesh Branch Manager of the JFE Engineering Corporation Kuroda Yuki said high potentiality of growth and remarkable relation between Bangladesh and Japan since the independence are the main reasons for investing in the country.

He said Bangladesh has been implementing several mega infrastructure projects to accelerate the growth, targeting to graduate from the grouping of the least developed countries (LDC) and realizing an advanced economy by 2041.

JFE Engineering Corporation wants to contribute to the country’s development through not only participating in the Japan's Official Development Assistance (ODA) projects, but also other projects.

In order to run and expand the business here, he said, they need collaborations and supports from various companies of Bangladesh.

"For obtaining positive and strong supports from them, the provision of detailed and transparent information is the most important," he added.

Therefore, he said, detailed and transparent information disclosure needs to be improved the most.

He appreciated Bangladesh government's strong efforts for the improvement in public security.

According to the Japan External Trade Organization (JETRO), a total of 321 Japanese firms are currently running their businesses in the country. The number was 83 in 2010.

Couple of years ago, JFE Engineering Corporation has come to Bangladesh for contributing in the country’s infrastructure. The firm is the comprehensive engineering arm of the JFE Group.

The company has its roots in steelmaking and shipbuilding businesses and has expanded its engineering business that underpins people’s lives and industries in the fields of energy and the environment, and social infrastructure by blending and evolving its technologies.