TOA Corporation is currently planning to expand its operation in Bangladesh as the economy grows. Since the establishment of its branch office in 2020, the company is contributing to develop land for Bangladesh Special Economic Zone Development under the Foreign Direct Investment Promotion Project (FDIPP).
This is known as the Japanese Economic Zone under the investing countries’ Official Development Assistance (ODA). The company is working for the Bangabandhu Sheikh Mujib Railway Bridge Construction Project as a joint venture with two other Japanese companies- Obayashi Corporation and JFE Engineering Corporation.
As of now there are 321 Japanese companies, operating their business in the country. The number of such companies has also increased since 2010 where the number was 83. The general manager of the TOA Corporation Bangladesh Office is also interested in participating in other infrastructure development projects. He requested the government to reduce the trade barriers, including complicated taxation system, high tax rate and high import and export tariff, and simplify the administrative system to increase foreign investment.
He also stated that collaborations and support from various local companies of Bangladesh is needed for the company’s expansion.