Dhaka, Oct. 9 -- A tri-national joint venture is investing US$120 million to build and run countrywide retail outlets in Bangladesh with the local firm's two foreign partners bringing in most modern marketing know-how.

Indonesia's retail-giant Alfamart has announced its entry into Bangladesh with the joint venture with Kazi Farms Group and Japan's Mitsubishi Corporation.

A new company is born, styled Alfamart Trading Bangladesh Limited. The JV company officially began its journey Tuesday with a launching ceremony at the InterContinental Dhaka in presence of two advisers of the interim government.

Commerce Adviser Sheikh Bashiruddin and Social Welfare Adviser Sharmin S. Murshid attended the function.

Kazi Zahin Hasan, Director of Kazi ...