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Bangladesh invites Singaporean businessmen to invest in EZs

by Apparel Resources News-Desk

14-February-2018  |  2 mins read

Economic Zone
Image Courtesy: youtube.com

Bangladesh is a profitable venture for investment, the country’s Commerce Minister Tofail Ahmed told Singapore businessmen while calling them out to invest in the new economic zones.

The Minister further underlined that the Government of Bangladesh has investment-friendly policies. “Our country has enough skilled workers. It is possible to produce world-standard products at low costing in Bangladesh,” he said.

Ahmed was speaking at a ‘Seminar to Promote Trade and Commerce between Bangladesh and Singapore’, organised by Bangladesh Business Chamber in Singapore on February 13, 2018. The programme was chaired by Md Shahiduzzaman, President of Bangladesh Business Chamber, Singapore, and attended by Bangladesh’s envoy to Singapore, Md Mostafizur Rahman.

The Minister also assured the Singaporean investors that if they want to invest in the 100 Specialised Economic Zones (SEZs), the Government will offer all the necessary assistance in establishing their facilities in the country.

“Our Government is giving policy-level support to protect the investment. Now, investors can invest up to 100 per cent; if necessary, the investors can pull out with the investment and profit,” said Tofail, who also highlighted that the Bangladesh Government has signed FTAs (Free Trade Agreements) with several countries for the purpose of expanding trade. If necessary, the country will think of signing an FTA with Singapore as well.

Notably, Bangladesh Economic Zone Authority (BEZA) is working to set up 100 economic zones, both public and private, by 2030. The EZs will include garment factories. Media reports claim that a number of private economic zones have already started production activities at the units.