Bangladesh hopes to become the 25th largest economy in the world by 2035. At present, the country has an investment opportunity of USD 100 billion annually, leading policy- makers made the remarks on Sunday.
Out of this, only USD 2.5 billion will be required in the infrastructure sector. Investment potential in Public-Private Partnership (PPP) sector is USD 2.4 billion. Bangladesh has a green investment opportunity of USD 1.5 billion, including renewable energy.
Besides, there are also opportunities to invest in long term investment, apparel and textiles, food products, digital economy, agriculture sector and others.
The policy- makers revealed such information to foreign entrepreneurs on the second day of the ‘Bangladesh Business Summit-2023’ organized by FBCCI at the Bangabandhu International Conference Center on Sunday.
Several plenary and parallel sessions conducted at the business summit where ministers, secretaries, policy- makers of various ministries of government and entrepreneurs and investors from abroad participated.
Prime Minister's Advisor on Private Industry and Investment Salman F. Rahman said Bangladesh has a more cost-effective and safer investment environment than other countries in the world.
The growth trend of the country has been quite positive for about last 14 years. Poverty rate has reduced, women empowerment has been successful, the participants mentioned.
Rahman also said that Bangladesh is showing zero tolerance policy against militancy and terrorism to invite greater number of foreign investments. Corruption and money laundering have also been stopped through strict policies.
Commerce Minister Tipu Munshi said, “China, South Korea and Japan have already invested in our economic zones. Work on our 100 economic zones is continuing. BIDA has already launched one stop service. Discipline has come to the e-commerce sector. The country is working on an investment of 100 billion dollars. FBCCI is working as one of our partners in this investment.”
Former FBCCI President Hamim Group Chairman AK Azad said Bangladesh has a good job market, which is cheaper than other countries. Non-stop service has started in the economic zone. So you (foreigners) can safely invest in Bangladesh.
State Minister for Foreign Affairs Shahriar Alam said that Padma Bridge, Karnaphuli Tunnel, Payra Bridge and many other developments have been achieved to facilitate investment and business. Most of the world’s green factories are now located in Bangladesh. We have safer working environment in industries. The minister urged foreign investors to invest in Bangladesh.
The session highlighted the opportunities for investing USD 100 billion in key sectors in Bangladesh.
Chief Secretary to the Prime Minister Md. Tofazzal Hossain Mia, UK Indo-Pacific Affairs Minister Anne-Marie Trevelyan, FBCCI President Md. Jasim Uddin, Chairman of Youngone Corporation of South Korea Ki-Hak Sung, Regional CEO of ASEAN Southwest Asia Takeshi Mamiya and some other foreign business representatives participated on the second day’s different seminars.
The policy- makers of Bangladesh elaborated the potential sectors of the country to foreign businessmen and investors and expected more investment.
Through this summit, huge foreign investment is expected in the country’s natural resource exploration and extraction, communications, clothing and textiles, light engineering, agriculture and health-education sectors.