Potential business persons of Hong Kong were urged to explore the business opportunities both in traditional and emerging sectors of Bangladesh, referring to various incentives offered by the Bangladesh government for foreign investors.
The calls were made in an interactive seminar on expanding investment opportunities between Bangladesh and Hong Kong organized by the Bangladesh Consulate in Hong Kong, held on Monday.
Around sixty participants from the government of the Hong Kong special administrative region, Hong Kong Trade Development Council (HKTDC), representatives of various chambers of commerce/business bodies, different companies, SMEs, start-ups, attended the seminar.
The seminar titled "Expanding Business and Investment Opportunities between Bangladesh and Hong Kong" at the Chinese Manufacturers' Association of Hong Kong (CMA) was divided into two sessions, said a press release.
In the first session on "Promotion of business opportunities between Bangladesh and Hong Kong", the Consul General, Israt Ara delivered the welcome remarks.
In her speech, she shed light on trade and economic cooperation between Bangladesh and Hong Kong as well as highlighted current economic and social performances of Bangladesh.
Referring to various incentives offered by the Bangladesh government for foreign investors, she encouraged the potential business persons of Hong Kong to explore the business opportunities both in traditional and emerging sectors of Bangladesh.
Israt also assured them of all possible cooperation and support from the Consulate towards promotion of meaningful business ties between Bangladesh and Hong Kong.
Two guest speakers named Dr Patrick Lau, deputy executive director, HKTDC and Dr Wingco Lo, JP, vice president, CMA in their remarks, emphasized on exchange of high-level visits between Bangladesh and Hong Kong. Dr. Wingco expressed that a delegation from the CMA would visit Bangladesh soon. A promotional video on Bangladesh was played in this session which captivated the attention of the audiences. Later a presentation on 'Business and Investment Opportunities in Bangladesh' was given by Vice Consul, Md Marzuk Islam. In the second session, Felix Y.C. Chang, chairman and CEO, Evergreen Products Group Limited, Pauline Ngan, BBS, JP, Deputy Chairman & MD, Mainland Headwear Holdings Limited, and Calvin Ngan, MD, South China Bleaching & Dyeing Factory Limited shared their experiences in doing business in Bangladesh.
These three renowned and experienced investors highly appreciated the business friendly environment of Bangladesh and encouraged other potential investors, highlighting the competitive labour and production cost and other incentives prevail in Bangladesh comparing with Vietnam and Cambodia.
However, they expressed their concerns regarding delay of receiving the Bond license and problem of HTS code verification and holding their containers at the port from time to time and they sought support from the government to resolve these problems. They also proposed for an Exclusive Economic Zone for the Hong Kong Investors like investors from other countries.
In general, all the participants deeply appreciated the socio- economic progress of Bangladesh and thanked the Consulate for the arrangement of this 'timely initiative' as Hong Kong has reopened very recently.
It may be noted that due to Covid-19 related social restrictions in Hong Kong, this was the first physical event on promotion of business cooperation arranged by the Consulate after more than two years. At the end, a token of souvenir was given to the speakers and guests were entertained with traditional Bangladeshi food. On the sideline of the seminar, traditional handicrafts and other items including Nakshi Kantha were displayed.