Japan
Tobacco International, the second largest tobacco company in Japan, is buying
all of Akij Group’s cigarette making businesses.
For
this reason, Japan Tobacco International signed a deal worth twelve thousand
and four hundred crore take with the owner of Akij Group.
This
investment of Japanese Cigarette Company will be the single largest foreign
investment in the private sector of Bangladesh till now.
Asmar
Osman, economist of Human Development Research Centre (HDRC), said, “There is
no reason to be surprised seeing the interest of foreign investment in this
sector due to the number of smokers in Bangladesh, the big market of cigarette
and the government’s reluctance to discourage smoking.”
After
signing a deal with Akij Group, Japan Tobacco International in one statement
has said, “In Bangladesh, 8,600 crores of cigarette sticks are sold annually,
and 20% of that market will be in their possession as a result of buying the
business of Akij cigarette.”
According
to the sources of the international media, Japan Tobacco International has
bought some local cigarette companies in Russia, Indonesia and Philippines in
the last one year.
This
time, they have bought Akij Group’s United Tobacco Company, which is the second
largest cigarette maker of Bangladesh.
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