President Mohammed Shahabuddin on Monday urged South Korean businesses to come with bigger investment in Bangladesh taking advantage of its investment-friendly environment.
The president made the call when the newly appointed South Korean ambassador to Bangladesh Park Young-Sik presented his credentials to him at Bangabhaban, President’s Press secretary Joynal Abedin told UNB. Welcoming the new ambassador, the president said South Korea is one of the major foreign investors in Bangladesh.
He said the congenial business environment of Bangladesh and its rapidly growing economy attract more Korean investments in the fields of light engineering, electronics, home appliances, infrastructure development, ICT sector and shipbuilding.
South Korea is the major investor in Bangladesh with an accumulated gross amount of USD 1.4 billion dollars of investment in FY 2021-22. There are more than 150 Korean companies in Bangladesh.
The president said Bangladesh and South Korea have much potentials of joint ventures in many areas and that would benefit both countries.
Expressing his satisfaction with the South Korean government's Employment Permit System (EPS), the head of state said through this many Bangladeshi skilled workers will be able to get jobs in Korea.
The South Korean ambassador said that his country is keen to increase bilateral trade and investment with Bangladesh. He stressed on the exchange of visits by high-level delegations from the public and private sectors of the two countries.
Lauding the skills of Bangladeshi expatriates, the ambassador said they (manpower) are making important contributions to the development of South Korea.
The ambassador sought full co-operation from the president in carrying out his new assignment in Bangladesh.
Earlier, on his arrival at Bangabhaban, a smartly turned-out contingent of the horse-mounted President Guard Regiment (PGR) gave the envoys a guard of honour.
President's Office Secretary Sampad Barua, Military Secretary Major General SM Salahuddin Islam and Secretary (attached) Md Wahidul Islam Khan were present on the
occasion.
