Investment summit set for Sept 1 in Singapore
An investment summit focusing on Bangladesh will take place in Singapore on September 1 as international investors have been expressing a growing interest in the country.
The Bangladesh Investment Summit, Asia will examine the trade and investment opportunities for Asia's sovereign wealth funds, public and private pension funds and other financial investors in Bangladesh's markets.
At the same time, the summit will delve into the backstory to underpin the opportunities by examining merger and acquisitions prospects in the country and domestic growth.
Standard Chartered Bangladesh and City Bank will sponsor the third edition of the summit that will also address some investment issues for corporations looking to invest in the continent and for those Bangladeshi companies looking to fundraise in Asia.
The daylong summit will be organised by FinanceAsia, a leading financial journal in Asia and the Pacific, in association with AsianInvestor, a magazine focused on asset management, mutual funds, alternatives, private banking and financial services in the Asia Pacific.
While SCB and City Bank are the platinum sponsors, other partial sponsors include Brac EPL, Brac Bank and DFDL Bangladesh.
Bangladesh has demonstrated rapid progress since its independence and therefore, has been identified as one of the most promising emerging economies, Abrar A Anwar, chief executive of SCB, said at a media briefing at Sonargaon Hotel in Dhaka yesterday.
Bangladesh offers tremendous investment opportunities, as the country is a bridge between South Asia and Southeast Asia. The country has never defaulted on its debt and private sector investments are protected by laws here, he said.
Sectors such as infrastructure, water, gas, refinery, ICT, leather, pharmaceuticals, and food processing provide tremendous investment opportunities in Bangladesh, Anwar said.
“Besides, there is no market risk in these sectors. For example, our policies in the power sector are one of the best in the world.”
Sohail RK Hussain, CEO of City Bank, said the summit offers a unique forum for global investors to meet Bangladeshi regulators, policymakers and businesses. “The interaction between them will lead to a better understanding about the country and give the country increased visibility.”
Thanks to the previous summits, the number of international investors enquiring about Bangladesh is also growing.
City Bank alone received about three dozen international enquiries in the last three years -- four have already been converted into projects, while another four are in the process, Hussain said.
Six panel discussions will be organised as part of the summit to discuss a wide range of topics that include regulatory changes to stimulate investment, interest and exchange environments, innovation in the supply chain, and ways to maximise investment opportunities.
Organisers expect nearly 300 attendees -- government representatives, multilateral financiers, rating agencies, portfolio managers, global asset managers, institutional investors, private banks, principals from private equity and hedge funds, heads of Bangladesh-based corporate houses and Asia-based brokerages.
Bangladesh will have to spend $7.4 billion to $10 billion a year until 2020 to bring its power grids, roads and water supplies up to the standards needed to serve its growing population, according to the World Bank.
“It will not be a challenge for Bangladesh to raise money as positives about the country are greater than the negatives,” Anwar said.
“This is the best time for Bangladesh to attract more foreign investment to achieve 7 percent to 8 percent GDP growth,” Hussain said.
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