Explanation for waiver of condition no. 8 of BIDA Branch Office permission letter

Date: 15th Feb 2024 The Director Foreign Exchange Investment Department, Bangladesh Bank, Head Office Motijheel Commercial Area, Dhaka-1000. Through: Prime Bank Limited, (Gulshan Branch) Plot # 01, Block- CEN(H), Road # 109, Gulshan Avenue, Gulshan, Dhaka-1212. Subject: Explanation for waiver of condition no. 8 of BIDA Branch Office permission letter Dear Sir, We are very pleased to introduce ourselves that SANYO ENGINEERING & CONSTRUCTION INC. is a Japan-based company set up a Branch office in Bangladesh by obtaining permission from your office (BIDA Permission Ref No: OPE-23Feb2023-00002) effect from 20.03.2023. With reference to the letter of Bangladesh Bank Letter No: FEID/ BR/729/2(B- 1444)/ 2024-268, I would like to inform you that, Sanyo Engineering & Construction Inc. (Branch Office) is working with TOA Corporation (BSEZ Electrical Support Service Maintenance and Land Development Project of BSEZ Under FDI promotion Project); Ship Aichi Medical Service Limited; Embassy of Japan Bangladesh TOWA Personal protective Device Bangladesh Ltd.; Bangladesh Honda Private Ltd.; Shimizu Corporation; OSJI Joint Venture. s It is mentionable that Sanyo Engineering & Construction Inc. (Branch Office) generated revenue in the last financial year and the net profit after tax was BDT. 14,821,310.00 and the amount was fully earned locally. The headquarters of Sanyo Engineering & Construction Inc. (Branch Office) is willing to take the profit which is generated by the Branch Office. Hence, we need the waiver of condition no. 8 of BIDA Branch Office permission letter. Therefore, it is highly requested to send take the necessary action to provide the approval of waiver of condition 8 in pursuance to condition 9 of the permission letter. Sincerely yours, 🗸 _______________ MITSUO KAWASAKI Country Manager SANYO ENGINEERING & CONSTRUCTION INC. (Bangladesh Branch Office)