‘Right time to invest and do business in Bangladesh’

2023-04-27 06:44:44

Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof. Shibli Rubaiyat-ul-Islam has urged Japanese investors to become development partners by investing in Bangladesh.

He said, there is huge potential for investment in Bangladesh. Many investment opportunities await here. So now is the right time to invest and do business in Bangladesh. That is why expatriate and foreign investors staying in Japan are calling to invest in Bangladesh.

He said these things at the Roadshow entitled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ held at the Investment Summit 2023 in Tokyo, the capital of Japan on Thursday (April 27).

Prime Minister Sheikh Hasina was present as the chief guest at the event.

Shibli Rubaiyat-ul-Islam says, invest in Bangladesh before it’s too late. There are several benefits of investing in Bangladesh. Notable among these are rapid economic growth, resilience to global turbulence, fiscal and fiscal policy and investment-friendly government, no pre-approval for investment repatriation with profits, and an offshore resource-dependent economy.

BSEC chairman said, our capital market is also playing a great role. Compared to other countries, there is less volatility in the capital market of Bangladesh so far. Bangladesh’s capital market has performed well in the last few years. This year 74.60 billion dollar capital has been invested in our capital markets. And that is why I have been recognized by AFC as the highest return in Bangladesh capital market in 2020.

He said, currently there is a growing trade relationship between Bangladesh and Japan. This relationship is getting stronger day by day. Bilateral trade between Bangladesh and Japan has increased a lot in the past few years. It has exceeded $3 billion in the last 10 years. Exports to Japan increased 3 times than before. It is expected that the import and export between the two countries will exceed 10 billion dollars in the next one to five years. This will increase the commercial relations between the two countries. Japan’s investment in Bangladesh increased by 3.6 percent in FY 2021-22. However, Japan has many more investment opportunities in Bangladesh. In the future, Bangladesh expects big investment from Japan.

The Chairman of BSEC also said that Bangladesh has faced many challenges in the last 50 years. The problem was negative news, abuse. It was said that we are a poor country, education rate is very low, gender inequality, lack of technical capacity. These are all old ideas, in fact they no longer exist. In 1972, the GDP of Bangladesh was negative 14 percent. Dependence on foreign aid was 98 percent. Per capital income was $140. And in 2022, GDP stood at 7.1 percent. Dependence on foreign aid has come down to 2.90 percent. Per capital income stands at 2 thousand 793 dollars. This shows what kind of changes have happened in Bangladesh. And this has been possible under the capable leadership of Prime Minister Sheikh Hasina.

Shibli Rubaiyat-ul-Islam said, Bangladesh has a lot of success in dealing with Covid-19. This country has a lot of potential for safe investment. Bangladesh’s GDP and per capita income are increasing. Compared to many countries, inflation in Bangladesh is still low. Our remittance income is also increasing. Still the economy of Bangladesh is in a good position. So the capital market of Bangladesh has a bright future and endless potential.

He said, there are 39 hi-tech parks, 97 economic zones and 8 EPZs in Bangladesh. As a result many international companies are now merging and acquiring each other in Bangladesh. You have seen JTI acquire Dhaka Tobacco, GlaxoSmithKline Unilever and Robi Aziata Airtel. These are some examples of acquisitions and mergers in Bangladesh. International electronics companies and motor car companies are coming to manufacture in Bangladesh. We are preparing for the next fourth industrial revolution. Car companies are also coming to Bangladesh now. Now Bangladesh is starting car production.

In the event, the guests from Bangladesh addressed the institutional and individual investors on various sectors. There, the investment opportunities in Bangladesh, various development activities, investment-friendly policies of the government, stock market and overall economic situation and the cooperation of the Bangladesh government regarding FDI were presented to the guests.

Japan’s road show entitled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ is the sixth event organized by the capital market regulatory body BSEC. Bangladesh Investment Development Authority (BIDA) is co-hosting this road show with BSEC. Besides, the Ministry of Foreign Affairs is also a partner. Besides, Green Delta Insurance, Minori Japan Bangladesh and Japan External Trade Organization (JETRO) are cooperating.

Foreign Minister AK Abdul Momen, Commerce Minister Tipu Munshi, Prime Minister’s Private Industry and Investment Advisor Salman F Rahman, Information and Communication Technology State Minister Junaid Ahmed Palak, Prime Minister’s Principal Secretary Tofazzal Hossain Mia, Foreign Secretary Masood Bin Momen, Commerce Secretary Tapan Kanti Ghosh, Chairman of Bangladesh Investment Development Authority (BIDA) Lokman Hossain Mia, President of Federation of Bangladesh Chamber of Commerce and Industry (FBCCI). Representatives of BSEC including Jasim Uddin were present.

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