Dhaka pursuing consolidated approach towards economic diplomacy: Momen

Foreign Minister Dr AK Abdul Momen today said that Dhaka has been pursuing multi-pronged, multi-spatial and multi-temporal consolidated approach to make its economy diplomacy a success.

"We are pursuing a very consolidated approach towards the economic domain of diplomacy in the recent times," he said.

The foreign minister was addressing the "Bangladesh Business Summit 2023" inaugurated by Prime Minister Sheikh Hasina.

Momen said the foreign ministry has developed three policy packages - economic diplomacy, public diplomacy and Regional peace and stability packages.

He said his ministry has been working with the relevant ministries, investment promotion bodies, trade organizations while it established a dedicated wing for international trade, investment and technology inside the Foreign Office to coordinate domestic and foreign endeavours for better results.

"In addition, we have activated all our Missions abroad to put special focus and priority on economic diplomacy," he added.

He said Bangladesh is a gateway to the South Asian region and offers easy access to markets with a combined population of over 3.5 billion people.

"We are a connectivity hub in South and East Asia . . . I welcome you all to invest and be a winner," he said.

The foreign minister said Bangladesh's strategic location, competitive cost of doing business, vibrant culture, young and resourceful people along with stable and business friendly government make it as an attractive destination for investment.

"I repeat we have a young and educated workforce, a strong legal framework, and a government that is committed to creating an enabling environment for business to grow," he said, adding that Bangladesh has lot to offer to investors.

He said Bangladesh has implemented a one-stop service to facilitate foreign investors, and it (the country) is also setting up 100 special Economic Zone and 38 Hitch parks with lucrative investment packages.

The foreign ministry said the summit is a testament to the entrepreneurial spirit of our nation, and it showcases the immense potential and opportunities that Bangladesh has to offer to the world.

"We have spirit, we have the initiatives and we can do, sky is our limit. We invite you to join us in our development journey for mutual benefits," he made the call to the foreign business participants.

Momen said as per the vision of Prime Minister Sheikh Hasina, Bangladesh is committed to move itself from "Digital Bangladesh" to Smart Bangladesh by 2041.

"We are creating smart labor force, smart students, smart productive capacity, smart infrastructure, smart government, smart rules and regulations and smart people to be the manufacturing Hub of the world," he said welcoming all to be a part of building Smart Bangladesh.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the summit at the Bangabandhu International Conference Centre (BICC) in the capital city to commemorate the Golden Jubilee of the country's apex business body FBCCI.

The Ministry of Foreign Affairs, the Commerce Ministry and the Bangladesh Investment Development Authority (BIDA) are partnering the summit with the FBCCI.

Source: Bangladesh Sangbad Sangstha (BSS)