General

S Korean envoy discusses investment opportunities in Bangladesh

South Korean Ambassador to Bangladesh Lee Jang-keun on Sunday met Bangladesh Investment Development Authority (BIDA) Executive Chairman Md Sirazul Islam and discussed investment opportunities in Bangladesh including strengthening business and investment cooperation between the two countries.

Appreciating the active business relations between the two countries, both sides agreed to work closely to explore cooperation and investment opportunities beyond the traditional textile and garment sector, in new areas such as ICT, infrastructure, health, and electronics automobiles, banking, and services.

According to the recent statistics of Bangladesh Bank, Korea is the 6th major FDI investment partner for Bangladesh with the accumulated investment of US$ 1.44 billion as of the end of March 2020, after the USA, UK, the Netherlands, Singapore, and Hong Kong.

For the first quarter of 2020, Korea’s FDI to Bangladesh recorded $ 65.6 million.

Korea has played a meaningful role in developing Bangladesh’s RMG industry by being the first and largest investor in the field from the late 1970s, said the Korean Embassy in Dhaka.

Close to 90 percent of Korea’s investment in Bangladesh is in the textile and leather industries.

Source: United News of Bangladesh