An upswing in Korean investment likely
Bangladesh may see an increase in investment from South Korea in the coming years in the areas such as infrastructure, electronics and information and communication technology, speakers said at a webinar yesterday.
Foreign direct investment from Korean companies has been a driver of Bangladesh's prosperity and growth in recent years.
A further upswing in investment is expected across a variety of sectors in the years ahead, with a particular focus on infrastructure, electronics and ICT, the speakers said.
They spoke at the webinar styled "Bangladesh-Korea Business Corridor: Stakeholders Dialogue and Way Forward", according to a press release of HSBC Bangladesh.
HSBC Bangladesh, in partnership with the Bangladesh Investment Development Authority (BIDA), the Bangladesh Economic Zones Authority, the South Korean embassy in Bangladesh, and the Bangladesh embassy in South Korea, organised the webinar.
"We hope that iconic Korean companies would come forward to take advantage of the competitive and congenial investment climate of Bangladesh," said Salman Fazlur Rahman, adviser for private industry and investment of the prime minister.
"We hope that Korea's technological superiority, vast industrial and infrastructural experiences, along with our sincere efforts, will create a winning combination that will prove to be beneficial for both countries."
Speaking at the event, Matthew Lobner, head of international and head of strategy and planning of HSBC for Asia-Pacific, said, "We are thrilled to strengthen business ties between Korea and Bangladesh."
HSBC's international connectivity provides businesses access to a network covering more than 90 per cent of global GDP, trade and capital flows.
"We are proud to utilise this network to facilitate trade and investment into one of South Asia's most dynamic economies and to support its continued development," Lobner said.
Md Sirazul Islam, executive chairman of the BIDA, said the agency was working to improve the ease of doing business and ready to help foreign investors.
Bangladesh is a perfect destination for foreign investors because of the availability of workforce and developing infrastructure, he said.
Md Mahbub Ur Rahman, chief executive officer of HSBC Bangladesh, moderated the webinar.
Abida Islam, ambassador of Bangladesh to Korea,
Lee Jang-Keun, ambassador of Korea to Bangladesh, Eun Young Jung, CEO of HSBC Korea, Kevin Green, country head of wholesale banking of HSBC Bangladesh, Md Nazrul Islam, executive chairman of the Bangladesh Export Processing Zones Authority, Ki-Hak Sung, chairman and CEO of Youngone Group, and Ruhul Alam Al Mahbub, chairman of Fair Group, also spoke.
Comments