Bangladesh has immense potential as an investment destination, believe the country’s business leaders and policymakers.
Taking part in the 4th Bangladesh Business Summit, Asia, organised by FinanceAsia, in association with AsianInvestor and supported by the Board of Investment, Bangladesh, in Hong Kong recently, they highlighted the country’s foreign investment prospects.
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“Never before, Bangladesh was so well prepared to absorb talent, technology and investment from outside. Never before the country was so investment hungry as it is today,” maintained Bangladesh Finance Minister AMA Muhith in his keynote speech, adding, “I can assure you that the environment for doing business will be even better in the coming days. We are open to you, to your ideas, innovations and enterprises.”
Presenting another keynote paper on ‘Energy outlook for Bangladesh’, Prime Minister’s Adviser on power, energy and mineral resources Tawfiq-e-Elahi Chowdhury said: “Bangladesh is an unfolding story. Join us. We will make money, you will make money and Bangladesh will make its future.”
Chowdhury also went on to elaborate on the country’s robust growth in power generation over the past seven years in the country. While inviting the foreign entrepreneurs to invest in gas and coal-based power projects, the PM’s Adviser said, “We need this investment so that we can supply smooth power to the industrialists and entrepreneurs.”
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Maintaining that Bangladesh is the next destination of foreign investment after China and India, President of Dhaka Chamber of Commerce and Industry Hossain Khaled said, “There are seven core areas, where billion dollar investment opportunities are lying — physical infrastructure, power, backward linkage industry for garment and textile, automotive, pharmaceuticals, leather and shipbuilding.”
Chief economist of Bangladesh Bank Biru Paksha Paul also delivered a keynote presentation on monetary policy and Executive Chairman of Bangladesh Economic Zones Authority Paban Chowdhury spoke on investment opportunities in the economic zones, in the day-long event.
Taking part in the event, Chief Executive Officer of Standard Chartered Bank for the Asean and South Asia region Ajay Kanwal opined that Bangladesh has a very strong and resilient economy and has been maintaining a progressive growth since its independence. “So, it’s a lucrative investment destination,” Kanwal said, adding that the key factors that can attract foreign investors like stable GDP growth, steady currency and a stable government, are already there in the country.
“For a foreign investor, good returns, capital safety and dividend or capital repatriation are the three major issues. From our experience in Bangladesh as a foreign investor, we can say that all the three conditions are met,” Kanwal maintained.
