Bangladesh is constantly making progress in economic sector. In the current fiscal year, the country expects to achieve GDP growth of 8.25-8.3 percent, which is expected to rise to 10 percent by 2024.
Bangladesh is one of the few countries whose export earnings are increasing very fast. On average, the country's exports have grown by double digits for over a decade. In this regard, Bangladesh ranks the second among the emerging economies when only Vietnam is on its above.
Finance Minister A.H.M. Mustafa Kamal said this quoting the report of the 'World Trade Statistical Review-20' of the World Trade Organization (WTO).
The minister said this at a meeting with Coca-Cola President and Chief Operating Officer Brian John Smith at his office on Thursday.
Bangladesh is now the 12th largest exporter in world trade, while the country is the 5th largest importer. So, Bangladesh has immense potential for investment.
President of Coca-Cola informed that the company will invest $ 20 million in Bangladesh which will create employment of a large number of people.
The minister said that Bangladesh has the opportunity to make more profit by taking advantage of the best investment-friendly environment and attractive investment opportunities among South Asian countries. The country needs foreign investment to move forward.
“Coca-Cola by investing more in Bangladesh can benefit from the young and growing population of Bangladesh utilizing its 'demographic dividend' which will remain in place for the next 25 years.
“Bangladesh is in strategic geographical position among China, India and other growing economies in Asia. The geographical location of Bangladesh has made the country a hub of regional communication, foreign investment and global outsourcing. Due to strategic reasons, the overall progress of the world is not possible without Bangladesh, the minister added.
Coca-Cola President also discussed the issue of whether the existing supplementary tax and value added tax can be reduced in the current tax system. The minister also advised Coka-Cola to invest more and invest in special economic zones and register for capital markets. He assured that the reduction of Coca-Cola's supplemental tax would be considered by adding more investments. The minister hoped that Coca-Cola's investment of US $ 20 million would provide employment to the wider population.