Bangladesh and Japan signed six Memoranda of Understanding (MoUs) on Friday to enhance cooperation in energy, investment, and industrial development, marking a significant step in bilateral ties during Chief Adviser Professor Muhammad Yunus’s ongoing visit to Tokyo.

His Deputy Press Secretary, Abul Kalam Azad Majumder, confirmed that the agreements were formalised on the sidelines of the Bangladesh Business Seminar in Tokyo. Prof Yunus was present at the signing.

The MoUs include a key agreement to boost energy sector collaboration between the Japan Bank for International Cooperation (JBIC) and Bangladesh’s Energy and Mineral Resources Ministry.

Two land lease agreements were signed for the Bangladesh Special Economic Zone (BSEZ): one with ONODA Inc., which plans to manufacture and maintain gas meters, and another with Bangladesh Naxis Co., Ltd for apparel accessories production.

Another MoU involves Glafit and Musashi Seimitsu Industry, along with the Bangladesh Investment Development Authority (BIDA), to establish battery-powered bicycle and electric motorcycle manufacturing facilities.

Cipher Core Co. Ltd committed $20 million to launch a pilot project on information security using Complete Cipher Technology, aiming to position Bangladesh as a quantum-resilient digital economy.

The final MoU between JICA and BIDA outlines support for developing the Integrated Single Window Platform to streamline investment services.

Prof Yunus hailed Japan as a steadfast ally during challenging times. “It’s not about making money. It’s about changing people’s lives,” he said.

Japanese officials praised growing ties, noting a 75% rise in the number of Japanese firms operating in Bangladesh over the past decade.