Bangladesh invites diverse investment

PM calls Bangladesh a ‘lucrative economic hub’

Published : 04 Oct 2019 09:59 PM | Updated : 07 Sep 2020 08:05 PM

Prime Minister Sheikh Hasina took advantage of the India Economic Forum to highlight the country’s progress in recent times, especially the issue of Bangladesh graduating to a middle income from LDC. The premier also sought investment from major Indian investors who were present during the forum. PM highlighted the geographic importance of Bangladesh’s position, calling it a ‘lucrative economic hub’ between South Asia, China and South-East Asia. She further described the country as a moving towards becoming a high-value, knowledge-intensive society, beyond apparel and manufacturing.

She invited foreign investment in diverse sectors such as artificial intelligence, automotive industry, electronics, light engineering and education. The PM’s primary focus during four-day official visit to India would be further strengthening economic relations and to woo foreign investment. As Bangladesh gradually transforms from a lowest income country to a middle income one, foreign investment is one of the key priorities as our economic growth is still on the rise. Moreover, we must shift our industry focus from manufacturing in order to attract investment in diverse sectors.

In the era of the fourth-industrial revolution, Bangladesh must adapt to the changing trends in global commerce and put stronger emphasis on improving the IT and digital sectors. One of Bangladesh’s biggest strengths is its youth population. With declining birth rates and aging population plaguing many developed countries such as Japan, Bangladesh must swoop in to utilize this opportunity by training its workforce in skills that are essential for the global industry.

The government’s initiative to establish 100 Special Economic Zones is sure to attract foreign investors not only from India but from other parts of the world as well. Twelve of the zones are already functioning. A number of high-tech parks are also ready for technology and innovative enterprises. The plan of the government to transform the country into an economic hub by utilizing our geographic position will surely go a long way in ensuring the country’s progress and development.