Korea wants to invest in Bangladesh’s major sectors
South Korea is keen to invest in Bangladesh's garment and other major sectors as it looks to elevate the bilateral relations to a new height, said South Korean Ambassador Lee Jang-Keun yesterday.
He made this remark at a meeting with Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), at the federation office in Dhaka.
Bangladesh started its journey as a 100 per cent export-oriented readymade garment manufacturer with the help of South Korea.
Desh Garments was established under a joint venture with Korean Daewoo Corporation. Some 130 workers and staff were sent to South Korea to take part in training for six months.
Many of those trained now own garment factories. Many Korean entrepreneurs have also invested in the garment sector in Bangladesh.
Lee Jang-Keun said that Seoul wants to take the bilateral relations to a new level in 2022, marking the 50th anniversary of the diplomatic relations between the two countries.
Therefore, efforts are being made to increase Korean investment in other sectors besides readymade garments.
At present, South Korea is the fifth-largest foreign investor in Bangladesh, said the ambassador.
Jashim called upon Korea to invest in Bangladesh's infrastructure and man-made fibre sectors, according to a press release of the FBCCI.
This is a golden time to make investments in Bangladesh thanks to the country's huge domestic market, growing exports, easy availability of power and infrastructure, policy support, and a large working population.
"The countries that take advantage of this opportunity will benefit," he said.
Jashim said that the apex trade body would discuss with the Bangladesh Investment Development Authority to organise roadshows or investment summits in Korea to highlight the investment opportunities in Bangladesh.
The meeting decided to hold a business dialogue this year under a joint initiative of the Korea-Bangladesh Chamber of Commerce and Industry and the FBCCI.