Prime Minister Sheikh Hasina on Thursday said Bangladesh is going to be a regional hub for investment, industrialization and export due to the government's pragmatic policies, calling for more Japanese investment in larger volumes, reports BSS.
"With our pragmatic policies and Vision, Bangladesh is guaranteed to emerge as a regional hub for investment, industrialization and exports to diverse destinations in the region and beyond," she said while opening Bangladesh Investment Summit at the Galaxy Ball Room, The Westin, Tokyo.
Bangladesh Securities and Exchange Commission(BSEC) and Bangladesh Investment Development Authority(BIDA)jointly organized the summit titled "Trade and Investment Opportunities between Bangladesh and Japan.
Eleven Memorandum of Understandings (MoUs) between private companies from Bangladesh and Japan that include JCCI and FBCCI were exchanged in presence of Bangladesh Prime minister.
Chairman (senior Secretary) of BSEC Professor Shibli Rubayat-Ul-Islam made a presentation.
Mentioning that returns on investment in Bangladesh have been consistently high, she said that in addition, Bangladesh's business friendly fiscal and non-fiscal policies and incentives, stable democracy, prudent governance and leadership guarantees foreign investment will return good value.
"We can confidently assure you that Bangladesh ensures a solid future for global investors. We thus welcome all investors from world over, and Japanese investors in particular to see the opportunities for investment in Bangladesh," she said.
"However, real investment is still low. We seek more investment from Japan.--- I invite you all to come to Bangladesh and explore the potentials of business and investment opportunities," she said.
The Premier said that Bangladeshis a country of 170 million people which is itself a growing market while its location in the heart of a bigger market of nearly three billion consumers, provides a huge attraction for business expansion.
She said that the HSBC Global Research Projection report indicates that Bangladesh is expected to become the 9th largest consumer market globally by 2030 overtaking the UK and Germany.
The Premier reminded the local and Japanese investors that as they are aware that Covid-19 pandemic have caused havoc worldwide, and severely impacted trade and investment.
"However, we could tackle the crisis through effective measures and interventions. Our economy has shown strong resilience, maintained growth and is still sustaining the pressure from the volatile world financial situation and supply side constraints. Bangladesh has maintained her economic growth and achieved 7.1% GDP growth rate in Fiscal year 2021-2022. Despite the Ukraine War, we are projecting 6.5% growth rate during the current fiscal year," she said.
Referring to Bangladesh's ever-expanding economy, Sheikh Hasina said that opportunities have increased considerably in different sectors such as ICT, electronics, infrastructure, leather, textile, hospitality and tourism, heavy industry, chemical and fertilizer, and in SMEs.
"Our government is doing everything it can to facilitate smooth, easy and efficient ways of doing business," she said.
The Prime Minister said they are building 100 Economic Zones, Hi-tech and Software Parks to offer them for foreign investment.
"I want to assure Japanese investors that Bangladesh is ready for you, and that you will have great experience once there. All required agencies and framework to facilitate your business have been set up for convenience," she said.
Sheikh Hasina said they have a high-level joint platform like Public Private Joint Economic Dialogue (PPED) specially for facilitating Japanese investors in Bangladesh.
Bangladesh welcomes the outcome of the 5th PPED meeting held recently on 11 April 2023, she said.
"Since, Bangladesh is going to graduate from LDC status by 2026, we are working with Japan to make possible an Economic Partnership Agreement to expand bilateral trade and investment," she said.
The Premier expressed happiness over seeing collaboration between Bangladeshi and Japanese companies.
"I wish successful partnership to those companies that have made a commitment today for investment in Bangladesh. We expect more investments from Japanese investors especially in the Japanese Economic Zone in Araihazar," she continued.
Noting that the number of Non-resident Bangladeshis (NRBs) and people of Bangladeshi origin living in Japan are gradually increasing, she said they provide significant support to Bangladesh's economic activities through their remittances.
"I also urge them to develop more entrepreneurship, engage in business initiatives and joint ventures with their Japanese friends," she said.
The Premier said Bangladesh is moving forward to a prosperous future.
"We want you all to be partners in our development and achievements. Do invest in Bangladesh. We are confident that your investment will bring you huge success", she said.
"We seek more investment from Japan," Sheikh Hasina said.
Sheikh Hasina said during her successive terms in the government they have been uplifting the socio-economic condition of my people as per the Awami League government's Vision 2021 and Vision 2041.
"Bangladesh, as a country, is now cited as a "Role model for development" and sets examples in many fields ranging from poverty reduction, empowerment of women, digitalization, food production, and in addressing climate change challenges," she said.
Bd-pratidin English/Tanvir Raihan
