The Bangladesh government together with Japan Bank for International Cooperation (JBIC) and the Export-Import Bank of Thailand (EXIM) will bring six inactive sugar mills back into operation through public-private sector cooperation. These mills will be revitalized through modern machinery advances in management methods alongside technical expertise based on the initiative. This initiative seeks to update the sugar sector by boosting local manufacturing capabilities while simultaneously lowering imported sugar dependence and establishing stable sugar supply chains in Bangladesh.
Why 6 Sugar Mills Were Closed?
The six sugar mills closed several years ago because of financial troubles in combination with old structures and poor operational efficiency. The combination of these factors resulted in reduced production capabilities which made it impossible for the mills to operate sustainably. A new wave of Japan investment is currently driving widespread modernization initiatives that target key improvement areas to recover the operational strength of these mills.
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Japan Investment Boosts Bangladesh’s Sugar Industry
Sharkara together with Sutech and Marubeni plan to form a joint venture which will introduce contemporary technology and corporate management solutions to the mills. Japan investment plays an essential part in this project to boost operational efficiency alongside sustainability which secures domestic sugar requirements.
The project implements a wider initiative that aims to enhance Bangladesh’s agricultural sector by providing support to sugarcane growers who need mill processing facilities for their crops. The local sugar production boost from Japan’s investment will stabilize domestic market conditions and cut down the country’s dependence on imported sugar.
This projects bring hope to Bangladesh through job creation and local economic growth which predicts more investments in agricultural fields. New technologies together with better management approaches will establish sustainable economic growth while making Bangladesh more independent.
Source: Business Inspection BD
