9 British univs want to set up campus in Bangladesh: envoy

UK-Bangladesh relations can see a boost in the coming days, with British companies keen on investing here because of the country's continuous economic growth, availability of human resources and entrepreneurial spirit of the youths.

At least nine British universities want to set up campuses and bring world class education to tens of thousands of young Bangladeshis, while UK is expecting about 10 British companies to invest in financial, IT and healthcare sectors of Bangladesh in next few years.

On the other hand, with Brexit becoming a reality, Britain is also framing policy to allow professionals from all over the world to work in the UK – one that could create opportunities for Bangladeshis there.

British High Commissioner to Bangladesh, Robert Chatterton Dickson, made these remarks to journalists at his residence in the capital yesterday, a day after the first ever UK-Bangladesh Trade Dialogue where Dickson led the UK side and Commerce Secretary Md Jafar Uddin led Bangladesh side at the commerce ministry.

The envoy also highlighted systematic challenges that UK companies face while trying to invest in Bangladesh and suggested that the two countries can develop a long-term and stronger trade relationship if the challenges are addressed.

The bilateral trade between the two countries now stands at £3.4 billion, with Bangladesh exports to UK worth £2.8 billion. UK will continue to provide GSP facilities to Bangladesh until 2027, continuing up to three years after the country's graduation from LDC in 2024.

As Bangladesh's financial sector evolves, UK would like their investment and expertise to play a part in that, highlighting that London is a global financial hub.

The high commissioner said, however, that Bangladesh's 168th position at the Ease of Doing Business index explains some of the challenges. Those include regulatory uncertainties, complying contracts, dealing with bureaucracy and problems in coordination between different government agencies.

"It could be difficult for businesses to find personnel in the government who can solve problems -- some related to the court system, difficulty in achieving quick resolution of property disputes, and problems with tax authorities," he continued.

"Companies don't mind paying taxes, but what they find problematic are unexpected arbitrary demands from the tax authorities," Dickson said. 

During the trade dialogue, the UK high commissioner also said that some international investors are concerned about the degree to which intellectual brand and property are protected in Bangladesh and the risks that some of them perceive about counterfeits and grey exports.

Pharmaceutical companies have particular concerns about some aspects of the market, he said.

On higher education, Dickson said as in Sri Lanka and Malaysia, the global standard universities of UK would like to offer courses focusing on technical education, science and management, which are needed in Bangladesh's industries.

"That would be a much cheaper proposition than getting world class education by going abroad. I think here is a real win-win situation here," he said.

However, he said, though Cross-border Higher Education Act was passed in 2016, it has not been implemented yet. Asked why, he said there are issues with the University Grants Commission and some other bodies beyond government.

"Private universities here have a strong position in the market. There should be room for them to flourish; at the same time there should also be room for international universities to flourish," he said.

From Bangladesh side, officials highlighted particular desire to send more Bangladeshi professionals to work in the UK market. Dickson said UK is putting in place a system that will enable people to go to the UK from any part of the world to work.

There are a lot of talents in Bangladesh and UK wants to make their market open for them, particularly in health and education, he said.

He said UK and Bangladesh have strong political commitment to further the relations. The two countries will hold meeting of working group level and assess the progress at the end of the year.

"We have a very strong feeling that we can do much more in the coming days," he said.