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Reap benefit of good investment climate

PM tells US businesses


Published : 29 Aug 2023 10:27 PM | Updated : 30 Aug 2023 04:26 PM
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Prime Minister Sheikh Hasina on Tuesday asked the US Businesses to come with more investments in Bangladesh in potential and productive sectors for mutual benefits.

“Now is our time – and you are here to make it yours, taking advantage of our conducive investment regime,” she said.

The prime minister said this while delivering her introductory speech in the Meeting with the Visiting Executive Business Delegation US-Bangladesh Business Council at her official residence Ganabhaban.

She mentioned that US businesspeople could invest in power and energy, ICT, infrastructure, light engineering and electronics, automobile industry, agro-processing, pharmaceuticals, and ceramics, among others.

Currently, she said that Bangladesh has the most open foreign direct investment policies in South Asia.

This includes a liberalised industrial policy, one-stop service, an allowance for 100% foreign ownership, an easy exit policy, a 15-year tax exemption, a VAT exemption for imported machinery, streamlined services, and more.

“To facilitate industrialisation, we are establishing 100 Special Economic Zones, 109 Hi-Tech and Software Technology Parks, and IT Training and Incubation Centres across the country,” she said.

Hasina said that the Padma Bridge, which was opened last year, established a direct road and rail link to 21 southern districts.

“We are shortly going to open some other megaprojects like Matarbari Deep Sea Port, Dhaka elevated expressway, part of Metro-rail in Dhaka, and Bangabandhu Tunnel in Chattogram,” she said.

These infrastructures will further amplify both external connectivity and internal trade, thus acting as catalysts for growth, she added.

With its own market of 170 million people, the Prime Minister said, Bangladesh is located in the heart of a market of nearly three billion consumers.

“We, therefore, promote the concept of connectivity with our neighbours, which is becoming a reality. With its strategic location, Bangladesh is emerging as an ideal place for trade and investment in the region and beyond.”

She said that Bangladesh’s strength lies in its people. We have about 55 million youths with the requisite skills.

“The friendship and partnership between Bangladesh and the USA proved to be mutually beneficial for both countries and deeply rooted in mutual trust,” she said.

Since Bangladesh's independence, she said that the US has been one of the country's trustworthy development partners, contributing to its socio-economic progress.

“Being the single largest source of FDI and export market for Bangladesh, I wish the USA would continue to support its growth trajectory.”

She said that the government is pursuing a long-term growth strategy for the citizens that is sustainable, as acknowledged by global economists and organisations.

“We are now more united than ever before and have promised to realise the vision of Smart Bangladesh by 2041. With such a strong prospect, I would now assure you of the best possible policy framework to ease our business and investment climate and make it friendlier to you.”

Board Chair of the US-Bangladesh Business Council and Leader of the Mission Steven Kobos and President of the US-Bangladesh Business Council Ambassador Atul Keshap also spoke.

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