Yunus and Sumino after signing an MoU in Fukuoka, Japan

By Mizan Rahman, Dhaka
Nobel prizewinner Muhammad Yunus and Kazuko Sumino, president of S K Dream, of Japan, have signed a memorandum of understanding (MoU) in Fukuoka, Japan to collaborate on the creation of a social business hub on automobile workshop and auto mechanic training centre in Bangladesh with Japanese investment and technology, according to a press statement issued by Yunus Centre in Dhaka yesterday.
Sumino is the founder of S K Dream, a non-governmental organisation (NGO), in Japan that supports the disadvantaged people.
Her husband’s family established the famous Autobacs chain stores across Japan, with annual revenues of $3bn and over 500 stores in Japan.
Sumino became very interested in the concept of social business since Yunus’ visit to Japan in July last year and sent her representatives to Dhaka to discuss the possibility of setting up of a social business hub in Bangladesh, and carry out a feasibility study for auto-mechanic training centre, the statement said.
The Yunus Centre said the objective of the social business is to create vocational training programmes to develop human resources and create job opportunities, especially for the young people in Bangladesh from
disadvantaged families.
The joint venture will offer training in the field of auto mechanics at various levels of proficiency. It also aims to produce automobile spare parts in the future. It is expected that this new social business, which is a non-dividend company aiming at solving a social problem, will begin its work in Bangladesh in June 2013.
The signing of the MoU took place on the sidelines of the Social Business Forum Asia organised by Kyushu University in Fukuoka, Japan on July 20-22.
Yunus is attending the Social Business Forum Asia, an annual event, and other social business events in Fukuoka and Tokyo through July 19-26.