Nordic envoys urge their businesses to invest more in Bangladesh
Nordic ambassadors and businesses yesterday suggested improving business environment for the companies already operating in Bangladesh to attract more investments from the Nordic countries.
"Improving the business and investment climate for the companies already present in the country will send a clear signal to others, waiting to bring their products, know-how and investment into the market," said Swedish Ambassador Alex Berg von Linde.
Bangladesh has the potential to be a competitive and modern business destination, she said while speaking on behalf of the Nordic embassies in Bangladesh at a webinar organised by the Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh.
Linde said the Nordic countries remain committed to their partnership with Bangladesh to strengthen the possibilities of their companies to be agents for sustainable development in Bangladesh.
"In this regard, we especially value our good and long-standing dialogue with the government of Bangladesh and its agencies and authorities on issues relating to the Ease of Doing Business in the country."
"Father of the Nation Bangabandhu Sheikh Mujibur Rahman's idea of Sonar Bangla, a fairer and prosperous country, bear resemblances to the Nordic success in the creation of more equitable and robust economies," said Salman F Rahman, private sector industry and investment adviser to the prime minister.
He mentioned that as the Prime Minister Sheikh Hasina has set the target to transform Bangladesh into a developed nation—the culmination of Sonar Bangla—by 2041, the government places the highest importance on the attraction of FDIs and diversifying export basket.
"As such, we aim to further our relations with Sweden, Denmark and Norway with focus on IT, telecom, energy, RMG and shipping."
Around 94 per cent respondents of a survey on Nordic businesses in Bangladesh said they are expanding their operations, said Sirazul Islam, executive chairman of Bangladesh Investment Development Authority.
"I will urge existing Nordic investors to be our ambassadors and highlight just how profitable, comfortable and supportive Bangladesh is as an investment destination."
IFC Senior Private Sector Specialist Miah Rahmat Ali said Bangladesh government could consider bold and evidence-based reform initiatives to ensure more predictability in regulatory service delivery and private sector related policy formulation and create a level playing field for all businesses.
NCCI President Tareq Rahman said the Nordic companies can largely contribute to the long-term sustainable growth of Bangladesh through FDI in infrastructure, sustainable agriculture, power, healthcare, telecommunication, manufacturing and finance, with particular focus on innovation and climate sustainability.
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