Prime Minister Sheikh Hasina on Wednesday invited French investors to come up with their ventures as their investment in Bangladesh is still modest compared to its global footprint.
“French investment in Bangladesh is still modest compared to its global footprint. I invite French investors to witness firsthand the investment opportunities in Bangladesh,” she said.
The Prime Minister said this during her meeting with the business leaders of MEDEF International, the French Business Confederation, at her place of residence in Paris.
She said the Investment Promotion Agency, BIDA – directly reporting to her office – will be happy to support French investors in every possible way.
“You may wish to find a local partner to make your entry easier. You would be well advised to build a partnership with Bangladesh in the long term,” she advised.
Hasina said she is sure that French investors will feel confident about the prospects for high returns on their investment.
“We would also welcome your constant feedback and suggestions,” she said, extending thanks to MEDEF for setting up a Bangladesh-France Business Council.
“We would encourage further bilateral engagements through institutional linkages. The MEDEF business mission to Bangladesh can be planned in connection with next year’s celebrations of the 50th anniversary of our diplomatic relations,” Hasina said
Mentioing that the government is setting up 100 Special Economic Zones and 28 Hi-Tech Parks across the country, she said, “We’ve now excess power generation capacity. Our entire land territory has internet coverage. Bangladesh now ranks among the top rice, inland fish and vegetable producing countries. Our Blue Economy resources, however, largely remain untapped.”
About climate change, she said, “Our vulnerability to climate change is a reality. But we now focus on building climate resilience and sustainability. This also creates green business opportunities for our partners. Our long term development plans are aimed at building a peaceful, inclusive and prosperous delta.”
Mentioning that all these factors make Bangladesh an attractive trade and investment destination, she said, “Here, I repeat what I had said in Paris back in 2017: France needs to invest to sustain its growth, and Bangladesh needs investment and trade to fast-track its growth. Together, we can create a win-win situation for our two economies.”
The PM said the bilateral trade between Bangladesh and France is growing steadily. The two-way trade stands close to USD 2 billion. France is now Bangladesh’s 5th largest export destination. “We must aim to double the volume of bilateral trade by 2025. Our export to France also needs to diversify further.”
She said a number of French enterprises are engaged in useful work in Bangladesh. “We developed our Bangabandhu I Satellite with the technical support from a French company. Two ground control stations have also been set up. We’ve started planning for our second satellite.”
Hasina said Bangladesh’s air navigation systems are being supported by French technology. French expertise is also being used in the energy sector, including for expanding one of our oil refineries. “We appreciate continued French investment in our water development sector. Agro-processing can be yet another area for enhanced cooperation,” she said.
Source: United News of Bangladesh