Desk Report
Publish: 10 May 2022, 12:35 pm
Prime Minister Sheikh Hasina || Photo: Collected
Prime Minister Sheikh Hasina today invited the businessmen
of the United States with the assurance of the best possible policy framework to
take up the investment-friendly atmosphere here in Bangladesh.
“With strong prospect, I will now assure you of the best possible policy framework to ease our business and investment climate,” she said.
The Premier made this invitation during a meeting with the
visiting first-ever executive business delegation, US-Bangladesh Business
Council, at her official residence Ganabhaban.
Sheikh Hasina said that she believes that the US companies
will take the advantage and invest more in potential sectors like power and
energy, ICT, infrastructure, light engineering products, mobile phone and
electronic goods, automobiles, agro-processing, pharmaceuticals, and ceramics.
“I am sure that you would be able to understand the
congenial atmosphere and feel confident about your potential investment in
Bangladesh,” she said.
She mentioned that Bangladesh is now recognized for its
state-of-the-art manufacturing factories in various sectors like RMG, leather,
plastic, jute, ICT and agro-processing.
She said “It is our ‘time’ now and please make your ‘time’
taking opportunities of our conducive investment regime.”
The Prime Minister said that she believes that the
US-Bangladesh Energy Taskforce which was launched in September 2021 will help
advance energy cooperation among the stakeholders of both countries.
Likewise, the proposed US-Bangladesh Digital Economy
Taskforce will contribute to deepening the cooperation of companies of both
countries to ensure sustainable development, she noted.
Stating that the Bangladesh-US friendship is based on common
values and shared interests, she said “It is reflected in our expanding overall
business relations.”
“Our trade relations can be further strengthened with
duty-free access and other trade privileges in the US market,” she said, adding
that “Bangladesh is ready to commence Free Trade Agreement-FTA negotiations
with the US at an appropriate time.”
Expressing gratitude to the US Chamber to recognize
Bangladesh as one of its potential partners for enhanced trade and investment,
Sheikh Hasina hoped that this visit and exchange of views with the relevant
government and private bodies will further explore the expected business to
business partnership and, will definitely double the trade volume and benefit
the private sectors of both countries.
Bangladesh has been recommended to graduate from the LDC in
2026 and the country is aspiring to
become a developed and prosperous country by 2041, she said, adding that “For
that purpose, we need enhanced investment from our friendly countries,
especially from the USA.”
Terming Bangladesh as an attractive investment destination,
she said along with physical infrastructures, the country has upgraded and
eased the rules and regulations relating to investment and business.
The head of government added, “Bangladesh has the most
liberal investment policy in South Asia and its foreign investment is protected
by acts of parliament and bilateral treaties.”
Recently, cent per cent area of Bangladesh has been brought
under electricity coverage, she said, adding “We are upgrading our road,
railway and water communications by implementing some megaprojects.”
Mentioning that Bangladesh is setting up 100 special
economic zones for domestic and foreign investors across the country, the
Premier offered “We may earmark one of the zones exclusively for the US
investors if you desire so.”
She continued that “The demographic dividend and our focus
on developing skilled manpower ensure that investors here get skilled human resources
at competitive wages.”
She went on to say that her government is pursuing a
long-term growth strategy for our citizens which is sustainable as acknowledged
by the global economists and organizations.
During the stay in Bangladesh, Sheikh Hasina said that all
of you definitely came across the mega infrastructure projects which are
expected to attract more foreign direct investment.
Since independence, the US has been one of our trusted
development partners and contributing to our socio-economic progress, she said
and added USA is the single largest source of FDI and export market for
Bangladesh.
She stated that the export volume increased by more than US$
3 billion during the last five years and the export volume rose to $ 7.6
billion in fiscal 2021-22 from $ 5.8 billion in fiscal 2016-17.
Board Chair of US-Bangladesh Business Council Jay R Pryor,
Board Members of the US-Bangladesh Business Council and Business Executives
from Bangladesh and the USA also spoke at the meeting.
Commerce Minister Tipu Munshi, Private Industry and Investment Adviser to
the Prime Minister Salman Fazlur Rahman, Ambassador-at-large Mohammad Ziauddin
and officials concerned, among others, were also present.
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