President Abdul Hamid and Foreign Investors' Chamber of Commerce and Industry President Rupali Chowdhury cut a cake to mark the association's 50th founding anniversary at Hotel Sonargaon in Dhaka yesterday. Photo: PID
President Abdul Hamid yesterday urged foreign investors and entrepreneurs to invest more in Bangladesh, saying the country could be their first investment destination because of its investment-friendly policy and congenial atmosphere.
"The government of Bangladesh is providing various facilities for foreign investment in the country. It is ensuring 100 percent security to the foreign investors in Bangladesh,” Hamid said at the golden jubilee celebrations of the Foreign Investors' Chamber of Commerce and Industry in Dhaka.
Apart from political stability, a very congenial atmosphere for investment is prevailing in Bangladesh, he said. Besides, smooth supply of electricity, availability of cheap manpower, vast domestic market, transportation, tax holiday and other incentives are prevailing here, he added.
The role of investment in the economy is important, as the investment in productive sectors helps achieve long-term sustainable development targets, Hamid said.
Bangladesh received the highest ever $1.73 billion in foreign direct investment in fiscal 2012-13.
Hamid said Bangladesh expects more foreign investment for its overall development. There are enormous opportunities for investment in power generation, energy exploration, infrastructure development, ship-building, textile, leather industry, ICT and agriculture-based industry.
“Foreign investors can invest in these lucrative sectors," he said urging Ficci members to extend their cooperation.
Hamid highly appreciated Ficci for its role, especially in the post-liberation period, for the development of Bangladesh economy. Since its inception in 1963, Ficci has been playing an important role in attracting foreign investment, he added.
Ficci President Rupali Chowdhury, Youngone Group Chairman Kihak Sung, Centre for Policy Dialogue's Distinguished Fellow Debapriya Bhattacharya and Standard Chartered Bank's CEO Jim McCabe also spoke.