Arunachal Pradesh seeks investment from Bangladesh
Arunachal Pradesh Chief Minister Nabam Tuki yesterday invited Bangladeshi entrepreneurs to invest in hydropower generation and tourism sectors in the prospective areas of northeast India.
“We have hydropower energy of more than 57,000MW. The state government is looking for business investments in the hydroelectricity sector through the build-own-operate and transfer basis,” he said at the inaugural session of the Indo-Bangla Trade Fair in Dhaka.
The chief minister said a closer economic integration and physical connectivity with Bangladesh would not only reduce economic isolation of the region but also dissolve the seclusion of the northeast region with mainland of India.
Finance Minister AMA Muhith, who was the chief guest at the function, however, did not give any clear indication when his government would allow Bangladeshi investment abroad.
“We said one and a half years ago that we would entertain some investments aboard on a case-by-case basis. Certainly India would be a very good destination to that end,” he said.
Muhith said he would request Bangladesh Bank to be generous in regards to the entry of Bangladeshi companies in India.
Industries Minister Dilip Barua, Tripura Industries Minister Jitendra Chaudhury, Indian High Commissioner in Dhaka Pankaj Saran, Country Head of the State Bank of India Pinak Chakraborty, Assam Public Health Engineering Minister Gautom Roy and Executive Director of GLOBAT Sayeed Hassan also spoke.
Barua said the fair would be a milestone for strengthening bilateral cooperation and technology transfer between Bangladesh and India.
He proposed a free-market zone with zero tariffs for the Saarc member countries with the spirit of SAFTA, for sustainable regional development, cooperation and the betterment of the common people.
Saran said the visit of the high-level delegation from India reflects India's larger engagement in Bangladesh. “This is a very good trend. I'm confident that we will both be able to explore opportunities through the event.”
President of India-Bangladesh Chamber of Commerce and Industry (IBCCI) Abdul Matlub Ahmad said the trade and investment opportunities of India and Bangladesh are now on an excellent platform.
“We've just witnessed India opening up its market to Bangladesh with zero duty for all Bangladeshi products.”
He sought government support to allow Bangladeshi businessmen to invest in India. The government should allow at least 10 percent of one's export to go to India in order to build better and sustainable businesses.
Matlub told the programme that both the Indian Commission in Dhaka and Bangladesh High Commission in New Delhi are issuing one-year multiple visas for businesspeople, which will help strengthen trade ties.