With Japanese companies discouraged by the wage hike in China, it is working in favour of Bangladesh. Japanese companies are now in the lookout for cheaper production bases in Asia and has started landing in Bangladesh due to the country’s low labour costs, reports the Bloomberg. According to Japan External Trade Organisation, the number of Japanese companies working in Bangladesh has more than tripled since 2008, reaching 253 as of May 2017. However, the number is still less than that in China or Thailand but the presence of Japanese companies in Bangladesh is increasing at a much faster pace because the country offers the lowest labour costs in the Asia-Pacific region. He said Uniqlo operator Fast Retailing Co played a role in Japanese companies starting to move to Bangladesh a decade ago.

Source: Dhaka Tribune September 20, 2017 08:15 UTC