Bangladesh is a perfect place for investment by global entrepreneurs as the government established 100 special economic zones equipped with all facilities to the investors, especially for the foreign entrepreneurs.
As a result, many of the world's renowned investors are now choosing Bangladesh as a ideal destination for investment.
Commerce Minister Tipu Munshi said this while addressing Malaysian entrepreneurs at the inaugural ceremony of the ‘Showcase Bangladesh 2019-Go Global’ in Malaysia on Thursday.
Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) organised the showcase for the 4th time in Malaysia, in support with Bangladesh Embassy in Kuala Lumpur, the South-South Association, Malaysia and the Malaysian External Trade Development Corporation.
The minister urged the Malaysian investors to invest in Bangladesh assuring them of being more benefited because the investment facilities are most attractive in the country.
State Minister for Expatriates’ Welfare and Overseas Employment Imran Ahmed, Deputy Minister for International Trade and Industry (MITI) of Malaysia Dr Ong Kian Ming, Bangladesh High Commissioner to Malaysia Shahidul Islam, Acting High Commissioner of Malaysia in Dhaka Amir Farid Abu Hasan, Bangladesh Association of International Recruiting Agencies (BAIRA) President Benjir Ahmed and BMCCI President Syed Moazzam Hossain also spoke on the occasion.
Sources said, the bilateral trade between Bangladesh and Malaysia totaled $1,595.49 million in the FY 2018-19 of which Dhaka’s export to Kuala Lumpur was $232.42 million and import from there was worth $1,363.07 during the same period.
Bangladesh mainly exports frozen shrimp, RMG, processed food, leather and leather goods etc, while there have a huge demand of Halal products in Malaysian market .
The business organisations, participating in the showcase from Bangladesh, are taking the opportunity to inform Malaysian importers about the Halal products of Bangladesh, to set up a network with Malaysian traders and inviting them to invest in Bangladesh.
In the last decades, Tipu Munshi said, the socio-economic status and geopolitics of both the countries, Bangladesh and Malaysia, changed considerably. “We have expanded our trade and investment significantly. “However, we have enormous opportunities to expand our trade and economic ties,” he added.
He believed that there are a number of sectors and initiatives where both the countries may engage for a win-win benefit.
“Bangladesh has opened up its windows for the foreign investors. The diplomatic relations and partnership between Bangladesh and Malaysia now reached a higher level,” he added.
The commerce minister informed that one hundred SEZs are being established in Bangladesh and the investors may invest in the country.
Imran Ahmed said Bangladeshi labour has been playing a vital role for long in the economic development of Malaysia. “The Bangladesh government is providing special focus on creating skilled labourforce. Malaysia can bring more skilled manpower from Bangladesh,” he added.
Dr Ong Kian Ming said Malaysia will continue working closely together with the Bangladesh government to forge stronger cooperation, particularly in regard to trade and investment relations.
He urged the private sector in both the countries to deepen trade and investment relations among them.
Through the ‘Showcase Bangladesh-Go Global’, Syed Moazzam Hossain said, the business community of both countries can expand their bilateral trade and investment.
He urged the business community of the two countries to share their knowledge and investment opportunities for increasing trade and investment.
In the first eight month of 2018-19, export from Bangladesh to Malaysia was US$ 207.67 while import from Malaysia to Bangladesh was $1,060.40 million. In 2017-2018, export from Bangladesh to Malaysia was $ 232.42 million while import from Malaysia to Bangladesh was $ 1,419.10 million.
Chairman of the Showcase organising committee M Alamgir Jalil delivered the welcome address in the inaugural function.
The event included seminars and B2B meetings and showcasing Bangladeshi products. It was attended by major business houses, interested investors and government bodies of Malaysia and also the investors from Bangladesh who aspires to bring investment from Malaysia to Bangladesh.
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