Wales Chamber sees huge business prospects in Bangladesh

Businesses of Wales in the UK think they can do business worth £200 million in Bangladesh in the next five to eight years.

Mahbub Noor, secretary general of Wales Bangladesh Chamber of Commerce, said Bangladeshi people have sufficient money to invest in the country, but what they need now is skills and knowledge.

“So we have brought knowledge-based businessmen in the country to provide value and consultancy to create innovative products,” Noor said at a press meet at Amari Hotel in Dhaka yesterday.

Most of the members of the mission are basically non-resident Bangladeshis at Wales, said a member of the chamber.

The chamber is looking for business opportunities in different sectors, including business consultancy, university, hotel business, tourism, lighting, frozen food, air conditioning systems, healthcare service, medicine equipment, real estate and infrastructure.

Later, the members of the Welsh government and Wales chamber met the leaders of the Federation of Bangladesh Chambers of Commerce and Industry at its office in the capital. The FBCCI leaders urged the delegation to invest more in Bangladesh.

“Bangladesh has huge potential for investment. Anyone can invest here directly or in joint-ventures in different sectors, including pharma, engineering, food processing and real estate,” said FBCCI President Kazi Akram Uddin Ahmed.

Bangladesh established many special economic zones for foreign investors with flexible business conditions, Ahmed said. The investors from Wales can invest in these zones, he said.

Dilabor A Hussain, chairman of Wales Chamber, said: “We want to work with Bangladesh despite political instability.”  “Challenges will be there, but as entrepreneurs, we see challenges as opportunities.”

The chamber wants to go for partnerships with Bangladesh's business community, he said.