‘BD’s liberalized investment policies encourage foreign investment’

Experts at an investment summit observed that Bangladesh’s liberalized investment policies and concessions are encouraging the foreign investors to invest in the country.

They made the observation at the investment summit on “Showcase Bangladesh 2021: China-Bangladesh Investment Summit”, a virtual platform jointly organized by Standard Chartered and Bangladesh Investment Development Authority (BIDA), recently, said a press release on Wednesday. The virtual event showcased the partnership potential between Bangladesh and China and highlighted the emerging strategic opportunities in a shifting global landscape. Over 400 delegates representing Chinese public and private sectors, policymakers, investors, bankers and economists, along with prominent leaders from the private and public sectors were in attendance, reports BSS.

Planning Minister MA Mannan joined the investment summit as the chief guest while Prime Minister’s Private Industry and Investment Adviser Salman Fazlur Rahman, BIDA Executive Chairman Mohammad Sirazul Islam, Executive Chairman of the Bangladesh Economic Zones Authority (BEZA) Paban Chowdhury, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI ) Sheikh Fazle Fahim and Chief Executive Officer of the Standard Chartered Bangladesh Naser Ezaz Bijoy, among others, spoke on the occasion.

MA Mannan said, “Platforms such as ‘Showcase Bangladesh’ highlights the importance of connecting with potential investment opportunities for shared economic prosperity goals among all parties involved.” Salman F Rahman said, “Our government is keen on facilitating trade and investment for both Bangladesh and China. Bangladesh’s liberalized investment policies, concessions encourage foreign investment, and we see China as a strong investment partner. We hope investment cooperation between Bangladesh and China will reach new heights during Mujib Borsho – the birth centennial of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.”

Mohammad Sirazul Islam delivered the webinar’s keynote presentation that highlighted opportunities for Chinese investors in sectors such as RMG, leather, pharmaceuticals/API and medical equipment, software and IT, agro and food processing, agro tools and machinery, electronics, automobile and shipbuilding. “Bangladesh is a rapidly growing economy country. The country has shown resilience during these unprecedented times where we grew by 5.24 percent at the time of the global pandemic. BIDA is also working to further improve the investment climate for investors,” he added. Sheikh Fazle Fahim said, “Such potential investment opportunities will allow for maximizing knowledge to ensure sustainable growth for both the economies involved.”

“Multimodal connectivity for enhanced communication and a consolidated investment friendly environment will prove to be a win-win situation for both Bangladesh and China,” he added. Paban Chowdhury said, “We are currently developing one of the biggest economic zones and have already developed 28 economic zones in Bangladesh. In addition to ensuring access to land and industrial infrastructure, there has been significant progress in mobilizing one-stop services for investors to streamline foreign investment in Bangladesh.”

Naser Ezaz Bijoy said, “As Chinese firms seek new ports-of-call to expand integration to global value chains, Bangladesh-China partnerships hold a unique promise: deep ties and familiarity of centuries, but new and untapped opportunities. To fully leverage these opportunities, a close partnership between banks, investors and governments will be critical.

Today’s summit is our first step to establish the platform for this collaboration.” Executive Vice Chairman of the Chief Executive Officer of Standard Chartered Bank (China) Limited Jerry Zhang also spoke on the occasion.

(AA)