US business keen to join Bangladesh growth story

MoU signed between FBCCI and US-Bangladesh Business Council

Published : 10 May 2022 11:33 PM | Updated : 11 May 2022 01:31 PM

US businesses continue their long-standing interest to be a part of Bangladesh's development and private sector transformation. They expressed their spirit of collaboration with Bangladeshi business and the Bangladesh government.

The impressions were made at the US-Bangladesh Business Summit jointly organized by FBCCI and US-Bangladesh Business Council. 

FBCCI hosted the largest and historic business delegation from the United States to have come to Dhaka.

Members of a high-level US industry delegation that is visiting Dhaka attended the conference. The event was presided over by the Hon. 

Commerce Minister Tipu Munshi who noted that “Now is the Golden Time for investment in Bangladesh.” The Minister urged US businesses to invest in Bangladesh and build strong commercial and strategic relations between the United States and Bangladesh. 

Mentioning some of the mega projects including Dhaka-Chattogram Elevated Expressway, Dhaka-Chattagram High Speed Train, Marine Economy, Hi-Tech Park, 100 economic zones across the country, FBCCI President Md. Jashim Uddin said that, USA should choose Bangladesh as their next investment destination. 

He said the Bangladesh government is providing various benefits including tax exemption and duty draw back for foreign investors. 

USA entrepreneurs may consider Renewable Energy, LNG Terminal, Inland Container Depot, Warehouse and Cold Chain, Automobile, Hotel and Hospitality, Banking and Insurance as potential sectors for investment in Bangladesh, the FBCCI Chief added. Speaking on the occasion, Chevron's Vice President for Business Development and Mission Lead of the Trade Delegation Jay R Prior noted that Bangladesh has made remarkable economic progress across a diversity of sectors. 

He noted that 100% electrification of Bangladesh and energy development in Bangladesh is key to Bangladesh’s success. 

In achieving Bangladesh's Vision 2041, US business are keen to strengthen bilateral ties which is why he is leading this 30 executive U.S. executive business delegation to see the new and transformed Bangladesh. 

Sidhanta Mehra, director of the US Bangladesh Business Council, said the magnitude of the trade delegation efforts is a reflection of the importance that U.S. business has put on Bangladesh. 

Former President Sheikh Fazle Fahim said the United States has good opportunities to invest in Bangladesh's light engineering, electrical components, IoT and healthcare.

DCCI President Rizwan Rahman called for tech transfer of US technology to Bangladesh. He said Bangladesh is an ideal country for investment. US entrepreneurs can take advantage of Bangladesh's demographic dividend through investment.

A Memorandum of Understanding (MoU) was signed between the FBCCI and the US-Bangladesh Business Council to enhance bilateral trade at the first U.S.-Bangladesh Business Summit.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu delivered the vote of thanks.