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BD to host int’l investment summit in Nov

Published : 12 Sep 2021 10:03 PM | Updated : 13 Sep 2021 12:27 AM

The government is going to host Bangladesh International Investment Summit 2021 (BIIS) on November 28-29 with a view to informing the world about the investment opportunities in Bangladesh.

The summit, being held after 5 and a half years, also intends to enlighten the potential investors about the wide-range of facilities that are being provided to investors. 

Prime Minister Sheikh Hasina is expected to inaugurate the summit virtually at Radisson Hotel in the capital, said Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman while speaking at a press conference at BIDA auditorium on Sunday.

He also officially opened the logo and website for the mega event.

Bangladesh Investment Development Authority (BIDA) with support from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is organizing the summit. 

"The government wants to show the world that the foundation of Bangladesh's economy has not been shattered despite the corona epidemic. The investment environment has been improved significantly in Bangladesh and we want to inform the international investors about it," said Salman F Rahman.

He said that they have a plan to hold the summit 'partially virtually' and with a partially physical presence' and the prime target of the summit will be to bring foreign, local, expatriate investment or local-foreign joint venture investment in the country.     

BIDA Executive Chairman Sirajul Islam said, "We'll hold a direct investment summit as the situation of corona improves. The reforms that have been taken in the last five years to attract investment in Bangladesh will be presented to the investors during the summit."

He said the government representatives and investors from the United States, the United Kingdom, Japan, South Korea, Singapore, Hong Kong, China, the Netherlands, Saudi Arabia, the United Arab Emirates (UAE), India, Turkey, Thailand and Malaysia are being invited to the summit. 

“Besides, international multilateral development partners like World Bank, Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and other global institutions have also been invited,” he said, adding that local policy makers, economists and representatives of the private sector will also attend it.

The theme of this year's summit is "Bangabandhu's Golden Bengal, where there is immense potential for investment".

According to the BIDA, on the first day of this year's summit, the overall picture of the investment environment and investment potential, including the potential sectors of Bangladesh will be presented. 

One of these is the ongoing plan to establish 100 economic zones in Bangladesh. Updated information on these economic zones will be made available to foreign investors. Besides, the possibilities and challenges of the fourth industrial revolution in Bangladesh will be discussed on the first day.

On the second day of the summit, the production and export of leather and leather products including garments and textiles will be discussed. In addition, the potential of mobile financial services (MFS), capital markets, transportation, pharmaceuticals, agribusiness and the production of electronic products will be presented to foreign investors.

A BIDA official said the issue of promoting the leather industry as an alternative to the garment sector would be given special importance at the conference.

Zones Authority (BEPZA) Executive Chairman Major General Md Nazrul Islam, Public Private Partnership Authority ( PPPA) CEO Sultana Afroz and Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Chairman Md Jasim Uddin were also present at the programme. 

Earlier, the last investment conference was held in January 2016 at Hotel Radisson. Although it was customary to hold the summit every two years, the government had not been able to do so for the past five and a half year due mainly to the outbreak of Coronavirus.