Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1084 Tue. June 19, 2007  
   
Business


Singapore investors seek special economic zone


Singapore sought a special economic zone (SEZ) in Bangladesh for the Singaporean entrepreneurs to boost investment.

A trade delegation of the Textile and Fashion Federation of Singapore pleaded for establishing the SEZ when they called on Industries Adviser Geteeara Safiya Choudhury at her office yesterday.

"Bangladesh has much potential as a strong economic force in the region," the business team from the Asean country was quoted as saying during the talks.

They noted that various countries have so far made huge investment here and various organisations of Singapore are interested to invest here.

Possible sectors of investment like textiles, ICT, jute, furniture and food- processing plant came up for discussion at the meeting.

The delegation informed that they would place a formal proposal soon on their planned investment after discussion with the Bangladesh Export Processing Zone Authority (Bepza) and the Board of Investment (BoI).

The industries adviser apprised the Singaporeans of the investment-friendly situation in Bangladesh and assured them of all-out cooperation in establishing the envisaged Special Economic Zone for the Singaporeans.

Benny Pua, president of the Textile and Fashion Federation of Singapore, led his country's delegation.

Secretary of Textiles and Jute Ministry Abdur Rashid Sarker was present during the meeting.