UK keen to invest in SEZs: Tofail

Commerce Minister Tofail Ahmed today said the United Kingdom (UK) has expressed its keenness to invest in Special Economic Zones (SEZs) to boost bilateral trade and investment.

"The UK wants to invest directly in readymade garments and agro-based industry to strengthen the bilateral business ties," he told the media at his secretariat office after a meeting with a five-member DFID delegation.

Visiting Director General of the Department for International Development (DFID) David Kennedy led the high-level delegation that included British High Commissioner in Dhaka Alison Black.

Mentioning that over 200 organizations of UK have invested in Bangladesh and are doing business successfully, the minister said the government would provide all kinds of facilities to the UK for the investment in SEZs.

He told the delegation that Bangladesh has adopted a liberal policy for foreign investment and any foreign firm could invest 100 percent capital and take back capital and profit.

Tofail reiterated that the Brexit would not hamper the ongoing trade and exiting bilateral relations with the UK.

Last year, the export volume of Bangladesh to the UK was $3,809 million against import volume of $276.60 million. Bangladesh registered $657.84 million trade surplus last year.

Pointing out that Bangladesh has attained tremendous progress economically and socially, DFID Director General hoped the development pace would be continued in the days ahead.

David Kennedy said the UK has decided to invest in SEZs as Bangladesh is an ideal place for investment. "Bilateral trade and investment would be intensified in future," he added.

The DFID Director General also lauded Bangladesh Cricket Team for demonstrating tremendous performance in Bangladesh-England Test and ODI series.

Senior Commerce Secretary Hedayetullah Al Mamoon and Additional Secretary Manoj Kumar Roy were also present.

Source: Bangladesh Sangbad Sangstha (BSS)