DCCI chief urges Vietnam to invest more in Bangladesh

Bangladesh's regional trade and commerce will grow manifold if the country could gain the observer status in the Association of Southeast Asian Nations (Asean), said Shams Mahmud, president of Dhaka Chamber of Commerce and Industry (DCCI).

Mahmud also urged the Vietnamese businesses to invest in Bangladesh.

He made the call during a meeting with Vietnamese Ambassador to Bangladesh, Pham Viet Chien, at the former's office in Dhaka on November 3.

Countries outside Southeast Asia cannot directly become a member of Asean but they can attain the observer status in the bloc to enjoy some trade privileges.

Mahmud also requested the ambassador to take steps to sign a memorandum of understanding between the chamber and the embassy to boost trade and investment, according to a statement of the chamber.

For trade facilitation, a Vietnam Desk can be set up at the DCCI office, the Dhaka Chamber president said.

He said textiles, tourism, blue economy, construction, light engineering and leather are some of the potential sectors where Vietnam can go for direct investment or joint ventures.

He also emphasised the need for launching a direct flight between Dhaka and Hanoi as well as easing business visa rules for Bangladeshi nationals.

Chien said bilateral trade volume between Vietnam and Bangladesh in 2019-20 was $742.16 million.

Of the amount, Bangladesh's export to Vietnam was only $48.16 million and Vietnam's export to Bangladesh was $694 million.

The envoy also underscored the need for increasing know-how, interactions, business to business match-making, exchange of trade delegations and arranging both-way trade fairs.

He requested the DCCI chief to send a trade delegation to Vietnam.

"There are many opportunities to explore. Now we should reap the benefits through a win-win initiative."