Grab investment opportunities in Bangladesh

Prime Minister Sheikh Hasina yesterday urged the investors from across the world to invest in Bangladesh, making the best use of the opportunities the government is offering for foreign investment.

"I believe investors will be able to learn more about the potential of different investment sectors in Bangladesh through this conference. New markets will particularly be created for Bangladeshi products, and Bangladesh will be able to attract the desired investment," she said.

The prime minister said this while addressing the inaugural session of the two-day International Investment Summit 2021 organised by the Bangladesh Investment Development Authority (Bida) at the Radisson Blu Water Garden Hotel to brand new Bangladesh among investors from around the world.

She joined the programme virtually from her official residence Ganobhaban.

Hasina said the government has identified 11 potential investment sectors, including infrastructure, capital markets, financial services, information technology, electronics manufacturing, leather, automotive and light engineering, agro-products and food processing, healthcare and medicine, jute textiles, and blue economy.

The prime minister said the importance of Bangladesh in terms of political stability, creation of a skilled workforce, liberal investment policy through attractive incentives, and geographical position between the huge markets of South and Southeast Asia is increasing day by day.

"More than 60 per cent of foreign direct investment is coming through reinvestment."

Hasina said the government has formulated sector-wise industrial development policies along with the National Industrial Policy, passed the Labour (Amendment) Act, 2018, considering environmental protection in taking up every project, and automating bond management for the growth of the export-oriented industry.

The prime minister also said the government has built 39 high-tech parks and is building 100 economic zones in phases.

"We've received investment proposals of $27.07 billion in the economic zones."

She mentioned that the government is building "Bangabandhu Sheikh Mujib Industrial City" in Mirsarai, Sonagazi, and Sitakunda upazilas while the Japanese Economic Zone in Araihazar has already attracted investment proposals of $1 billion.

Currently, about $30 billion investment proposal is awaiting implementation at 79 public private partnership projects.

Hasina said the government has been working since 2019 to provide 154 investment services of 35 companies online through One-Stop Service.

"We prioritise economic diplomacy and work towards concluding bilateral and regional preferential trade agreements, free trade agreements, and integrated economic partnership agreements. We signed a PTA with Bhutan."

She added: "We're preparing to reap maximum benefits from the Fourth Industrial Revolution by creating a skilled workforce with state-of-the-art technology. We aim to export $5 billion worth of IT products by 2025."

Prime minister's adviser Salman Fazlur Rahman, Saudi Arabia's minister for transport and logistics Engineer Saleh Nasser Al-Jasser, FBCCI president Md Jashim Uddin, and Bida Executive Chairman Md Sirazul Islam also spoke at the programme.

Ambassador of Japan to Bangladesh Ito Naoki read out the written message of Parliamentary Vice-Minister for Foreign Affairs Honda Taro.