Nearly 71 per cent of Japanese firms operating in Bangladesh are not satisfied with the business environment in the country. Of those firms, 26.2 per cent expressed dissatisfaction while the remaining 45 per cent reported they were ‘somewhat dissatisfied’, according to a study by the Japan External Trade Organisation (JETRO).

The findings of the study titled ‘2022 Survey on Business Conditions of Japanese Companies Operating Overseas in Asia and Oceania with focus on Bangladesh’ were revealed at an event at the Metropolitan Chamber of Commerce and Industry’s (MCCI) auditorium in the capital on Wednesday.

A total of 214 Japanese companies currently operating in Bangladesh participated in the study, which was conducted in August-September 2022.

According to study findings, about 72 per cent of Japanese firms said they are keen to expand business in Bangladesh because business costs are still low in the South Asian country.

A total of 4,392 firms participated in the study across Asia and Oceania regions. A total of 72.5 per cent of the firms cite India as the first choice for business expansion and Bangladesh as the second position, followed by Vietnam, Singapore, Australia, New Zealand and South Korea.

The current market size of Bangladesh and its potential to grow bigger also played a significant role in increasing the interest of Japanese businesses in investing in the country.