Industry

Come and make Bangladesh your home, Hasina tells UAE investors

Prime Minister Sheikh Hasina on Thursday invited investors from United Arab Emirates to avail lucrative opportunities in Bangladesh, harness its potentials and make Bangladesh their home.

“Come and make Bangladesh your home. I assure you all that Bangladesh is now a land of lucrative opportunities,” she said.

She made the call while addressing the Bangladesh-UAE Joint Business Council virtually.

Hasina said that Bangladesh will become “Sonar Bangla” or “Golden Bangladesh” as envisioned by the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman.

“Thus, I end here by extending to you all a very warm invitation to come and join us in that dream and vision for Bangladesh,” she said.

She said that Bangladesh has been one of the very few economies in the world that grew even during the pandemic.

“Our sustained growth has been made possible by clear vision, prudent planning, sound governance, political stability, and tireless efforts of our hard-working people and spirited entrepreneurs. Today, Bangladesh has emerged as a Development Miracle,” she said.

In this connection, she mentioned that the Centre for Economics and Business Research (CEBR) predicts that Bangladesh will become the 24th largest economy of the world by 2036.

She said that the equitable and inclusive “development model” of Bangladesh has laid a solid foundation on which to further develop.

She mentioned that Bangladesh is on its way to turn its US$ 416 billion economy into one of the largest economies of the world soon and become a developed country by 2041.

“Bangladesh is moving fast in urbanization, industrialization, and in increasing tele-density to connect individuals to governance, innovation and markets. Our aim is to connect our factors of production seamlessly into the global markets,” she said.

Hasina said that Bangladesh offers a huge domestic market of more than 168 million. people while its population is young, energetic, and ambitious.

She appreciated deep and wide innovations in agriculture and extension, productivity and remittance saying that country’s disposable income is rising faster than many comparable countries.

“On top of it all, we have a great geo-strategic location, and direct connectivity to all major international trading and shipment routes. We are also at the junction of the populous and growing South Asian, Southeast Asian and East Asian regions.”

she said that Bangladesh’s huge domestic market and the markets adjacent to it Interestingly are virtually untapped.

“All these advantages make Bangladesh an attractive destination for investors, and a future manufacturing, and economic hub of the region.”

The PM said that Bangladesh is today one of the top-most RMG manufacturers in the world while it is also good in leather, eco-friendly jute and jute derivatives, food and above all, in ICT and in ITES (IT Enabled Services).

Bangladesh also enjoys full-spectrum coverage by high-speed internet with more than six hundred and fifty thousand full-stack freelance developers, she added.

“Important to mention is our labor force, which is hardworking, affordable and quick learners,” she said.

She said that Special Economic Zones and High-Tech parks are ready for new ventures.

“We are ready with both policy and infrastructure support to ensure that investors choosing to make Bangladesh their home shall find only the best in the world.”

She mentioned that Mega Projects like the Padma Multipurpose Bridge, Rooppur Nuclear Power Plant, Karnaphuli Tunnel, Payra Seaport, Matarbari Power Plant and Deep-Sea Port, Dhaka Metro Rail, Elevated Expressway Project and so on, are already transforming the infrastructure of Bangladesh.

“Significantly, they connect our geographic space into the economic space of the South and the Southeast Asian transport and connectivity corridors.”

“We are now intensifying our connectivity into multiple layers of food, finance and energy security. Our financial markets are now ready to support advanced private equity and fin-tech solutions.”

The prime minister said that Digital Bangladesh that the government had aspired for almost twelve years ago – is now a reality.

“I, therefore, invite you to come and partner with us.”

The political stability in Bangladesh means that investors can plan for long term, she added.

She said that there is also no limitation on foreign ownership of business.

“Moreover, Bangladesh possesses a healthy foreign currency reserve. Also, investors are free to repatriate their profits. Indeed, Bangladesh’s sovereign rating is rising fast.”

She also mentioned that Bangladesh is firmly committed to the realization of the SDG 2030.

“We are eager to join hands with you to help our disadvantaged friends across the globe in realizing them.”

In this connection she said that trained human resources, managerial and administrative service providers, and ICT developers give us the strength to join our hands with you wherever in the world.

She also felicitated the business leaders of the UAE and Bangladesh for launching the Joint Business Council.

“I have great expectations from the Council and hope of much rewards and satisfaction.”

The Business Forum was held at the DP World pavillion in the Dubai 2020 expo venue.

Foreign Minister Dr AK Abdul Momen, Commerce Minister Tipu Munshi, Prime Minister’s Private Industry and Investment Affairs Adviser Salman F Rahman, UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi, FBCCI President Jasim Uddin, Chairman of the UAE Federation of Chambers of Commerce and Industry Abdulla Mohamned Al Mazrouei also spoke on the occasion.

Later, an MoU was signed between the FBCCI and the UAE Chambers to establish a Joint Business Council between the two countries.

FBCCI President Jasim Uddin, Chairman of Abu Dhabi Chamber of Commerce and Industry Abdulla Mohammed Al Mazrouei signed the MoU on behalf of their respective sides.

Source: United News of Bangladesh