FBCCI urges Brunei to invest in Bangladesh

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday called upon a visiting delegation from Brunei to consider Bangladesh as their next trade and investment destination. 

"We have ongoing development projects to facilitate investments," said FBCCI President Md Jashim Uddin, citing construction of a deep sea port, 100 special economic zones and hi-tech and tourism parks.

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The government is also building a nuclear power plant, metro rail, roads and railways to bring the whole country under a common network, he said at a breakfast meeting at a hotel in Dhaka.

"So, our story is now very different from what it was before…We foresee the scope of strengthening cooperation in trade and investment…to facilitate the transition to the 4IR (4th Industrial Revolution)," Jashim said.

State Minister of Foreign Affairs Md Shahriar Alam urged Brunei to hire more Bangladeshis as the country has been focusing more on creating skilled manpower

Bangladesh is focusing on development and innovation, food processing, ICT, plastic, petrochemical, shipbuilding, tourism, infrastructure development, petroleum and energy and knowledge transfer, he added.

He highlighted some of the major benefits provided by Bangladesh for foreign investors.

Apart from the domestic market, investing in Bangladesh will offer additional access to the Indian and Chinese markets as these two allow duty-free entry of most products made in Bangladesh, he said.

State Minister of Foreign Affairs Md Shahriar Alam urged Brunei to hire more Bangladeshis as the country has been focusing more on creating skilled manpower.

Bangladesh may offer a dedicated economic zone for the Association of Southeast Asian Nations (Asean) members if Brunei provides capital and marketing assistance, he said.

Brunei's ports were close to China, so using those as a transshipment hub could save time and money for Bangladeshi businesses, said Dato Dr Amin, a minister at Brunei's Prime Minister's Office and of finance and economy.

Minister of Home Affairs of Brunei Dato Seri Paduka Awang Haji Ahmaddin bin Haji Abdul Rahman praised the contribution skilled Bangladeshi manpower in keeping the economy of Brunei afloat.

FBCCI Director Priti Chakraborty recommended joint ventures to set up training institutes for the creation of skilled manpower in shipbuilding, health and ICT.

Bangladesh Garment Manufacturers and Exporters Association President Faruque Hassan and Foreign Investors' Chamber of Commerce and Industry President Naser Ezaz Bijoy also spoke at the meeting.

Afterwards, a memorandum of understanding was signed between ZES Trading and Ghanim International Corporation to supply halal food from Brunei to Bangladesh.

Later, the two ministers of Brunei inaugurated a store featuring halal food from Brunei at Gulshan 2 in Dhaka.