POBNEWS24, Dhaka, May 10, 2022 : Assuring the best possible policy framework, Prime Minister Sheikh Hasina called upon US businessmen to invest in an investment-friendly environment in Bangladesh, saying, “I will now assure you of the best possible policy framework and strong prospects for facilitating our business and investment environment. ‘
The Prime Minister made the call during a meeting with the Executive Business Delegation of the US-Bangladesh Business Council, which is visiting her official residence Ganobhaban for the first time on Tuesday.
Sheikh Hasina said, “I believe that US companies will take advantage of this and invest more in potential sectors like power and energy, ICT, infrastructure, light engineering products, mobile phones and electronic products, automobiles, agricultural processing, pharmaceuticals, ceramics.” ‘
He said, ‘I am sure that you will be able to understand the favorable environment and you will be able to feel the confidence of potential investment in Bangladesh.
He noted, “Bangladesh is now recognized for its state-of-the-art manufacturing plants in RMG, leather, plastics, jute, ICT, agricultural processing and many more. Now is our ‘time’ and please create the ‘time’ to invest in our favorable environment. ”
Mentioning that Bangladesh-US friendship is based on common values and shared interests, Sheikh Hasina said, “This is reflected in our expanded overall business relationship. ‘
Noting that our trade relations could be further strengthened through duty-free access to the US market and other trade facilities, the Prime Minister said Bangladesh was ready to start negotiations on a free trade agreement with the United States at an appropriate time.
Expressing gratitude to the US Chamber of Commerce for recognizing Bangladesh as one of its potential partners for enhancing trade and investment, Sheikh Hasina hoped that the visit and exchange of views with relevant governmental and non-governmental organizations would further explore the expected business partnership and double trade volume. And the private sector in both countries will benefit.
The Prime Minister said Bangladesh has been recommended to graduate from LDC in 2026 and has the aspiration to become a developed and prosperous country by 2041. “That’s why we need more investment from friendly countries, especially from the United States,” he said. ‘
Referring to Bangladesh as an attractive investment destination now, he said the country has improved and simplified investment and business regulations along with physical infrastructure. Bangladesh has the most liberal investment policy in South Asia and foreign investment is protected by Parliamentary law and bilateral agreements.
Noting that 100 per cent of Bangladesh has recently been brought under electricity, he said, “We are developing our roads, railways and shipping through the implementation of some mega projects.” We can only designate a zone for US investors if you wish. ‘
He further said, “Our focus on population dividend and development of skilled manpower ensures that investors here will get skilled human resources at competitive wages. The government is pursuing a long-term growth strategy for our citizens, recognized by world economists and organizations as sustainable. ‘
Mentioning that all the guests visiting Bangladesh during their stay will definitely see the mega infrastructure projects, Sheikh Hasina said, “It is hoped that these will attract more foreign direct investment. Since independence, the United States has been one of our trusted development partners and has contributed to our socio-economic progress. The United States is the single largest source of FDI and export market for Bangladesh. ‘
The Prime Minister said exports have increased by more than US তিন 3 billion in the last five years and increased from US 5.6 billion in FY 2017-18 to US ৭ 8.6 billion in FY 2021-22.
US-Bangladesh Business Council Board Chair JR Prior, US-Bangladesh Business Council Board Member and Business Executives from Bangladesh and USA spoke at the meeting.
Commerce Minister Tipu Munshi, Advisor to the Prime Minister on Private Sector Development Salman F. Rahman, Ambassador at Large M Ziauddin and other officials were present on the occasion. Chief Secretary to the Prime Minister. Ahmed Kaikaus conducted the meeting.
Source: Bass
