FBCCI seeks more US investment in Bangladesh

Published : 22 Sep 2021 09:16 PM

President of the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) Md. Jashim Uddin spoke at the U.S. –Bangladesh Business Council Meeting titled ‘Bangladesh Forward: The New Frontier for Growth’on September 21, 2021. The meeting was held on virtual platform.

Prime Minister Sheikh Hasina delivered the Key Note remarks at the program.

US Chamber of Commerce organized the meeting with the US-Bangladesh Business Council leaders as the side line program of the 76th UN General Assembly in honor of the Hon’ble Prime Minister of Bangladesh.

Md. Jashim Uddin remarked that USA has always been a great friend of Bangladesh and also is a key development partner sharing a number of multilateral interests.

He mentioned that there are close partnership between the two countries in the areas of economy, sustainable growth, climate change, health and education, etc.

FBCCI President hoped for a more diversified portfolio in trade relations with USA. Potential areas include manufactured products, logistics and technology-based products and services, he said. He told that there are American investment in Gas & Petroleum, Banking & Insurance, Power, Textiles, Trading and IT sectors in Bangladesh. However, the potential for substantial high-tech and diversified investment portfolio is yet to materialize. In addition, the blue energy economy remains largely untapped which could be of interest to USA.

Mentioning the strong economic indicators of the country, FBCCI President mentioned that Bangladesh is one of the fastest growing economies of the world.

He said Bangladesh has strongly emphasized upon infrastructure development, tourism, power and energy access, investment and business environment, ease of regulatory procedures, connectivity and much more. Establishment of 100 Special Economic Zones is under construction in different district areas to ensure the available planned land and utilization of local recourses.

‘Our manufacturers are adopting greener technologies and modern productions methods aligned with 4IR to modernize the entire system. Among World’s top 10 green RMG factories, top 7 belong to Bangladesh’, he added.

‘The bilateral ties between the two countries reflect the potential opportunities. We have to deepen our cooperation in the areas of development and innovation, energy sector, MSMEs, joint collaboration for technical skills / TVET program and knowledge transfer to transition of 4th IR’, FBCCI President also added.

FBCCI  President  invited businessmen of the USA to invest more in Bangladesh in different sectors.

‘FBCCI as the apex trade body of the country is ready to launch a platform for networking and business contacts and arrange vis-à-vis meetings and trade fairs between entrepreneurs of both the countries’, he mentioned.

Sajeeb Wazed Joy, Adviser to the Prime Minister of Bangladesh on Information and Communication Technology Affairs, M. Shahidul Islam, Bangladesh Ambassador to the United States, Jay R. Pryor, Vice President, Business Development & Board Chair, U.S.-Bangladesh Business Council, Nisha Biswal, President, U.S.-Bangladesh Business Council & Senior Vice President - South Asia, U.S. Chamber of Commerce, Faruque Hassan, President of BGMEA, also spoke on the occasion, among others.

Mostofa Azad Chowdhury Babu, Senior Vice President, Salahuddin Alamgir, Vice President of FBCCI, Md. Shafiul Islam (Mohiuddin) MP, former President of  FBCCI,  Rizwan Rahman,  President of Dhaka Chamber,   Nihad Kabir,  President of  MCCI, Dhaka also joined the meeting, among others.

It may be mentioned that a Bangladesh Business Delegation led by Md. Jashim Uddin is visiting USA as the entourage of the Prime Minister of Bangladesh to join the 76th UN General Assembly.