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18 April, 2019 00:00 00 AM
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Business in Bangladesh

Salman urges OIC states to step up investment

PM adviser highlights ten reasons before OIC members for investing in Bangladesh
Staff Reporter, Dhaka
Salman urges OIC states to step up investment
Salman F Rahman (4th left), the private industries and investment adviser to the prime minister, makes a PowerPoint presentation on the investment environment in Bangladesh in front of the ambassadors and heads of missions of OIC members at the PMO in the capital yesterday. Independent Photo

The Prime Minister’s adviser on private industries and investment, Salman F Rahman, urged all member countries of the Organisation of Islamic Cooperation (OIC) to increase investment in Bangladesh. He said the investment environment in Bangladesh was much better than many other countries.

Rahman was speaking in a discussion meeting with the Ambassadors and heads of missions of OIC members at the Prime Minister’s Office (PMO) yesterday. At the meet, the prime minister’s adviser presented a PowerPoint presentation in which he highlighted before the OIC members ten reasons for investing in Bangladesh. By analyzing the recent rapid progress made by Bangladesh on the economic and social index; he stressed the potential for investment in the country.

He discussed the initiatives taken by the government to foster competitiveness where local and foreign investments were given equal treatment. He mentioned that Bilateral Investment Treaties (BITs) had already been signed with 32 countries. He said the government had created an enabling environment for the private sector to drive economic growth and had a zero tolerance policy towards terrorism, drugs and corruption. Bangladesh was now getting GSP facilities from 38 countries. Of them, 28 countries are from the European Union. The other 10 are: Australia, Belarus, Canada, Liechtenstein, Japan, New Zealand, Norway, Russian Federation, Switzerland and Turkey, said Rahman. He also said many countries including the USA, UK, France, China, India and the UAE had already expressed their desire to invest in Bangladesh.

The domestic agro-processing sector in of Bangladesh was currently valued at USD 2.2 billion, where the average growth rate of the food processing industry was about 8 per cent and the average export growth rate in last 4 years was 37 per cent, he said while giving the presentation.

The vision of the government was to achieve socio- economic development by developing the country’s investment-trade sector, he added. He said investment growth was one of the special initiatives among ten taken by Prime Minister Sheikh Hasina. For that, the government was always ready to provide all assistance to domestic and direct foreign investment.

During the discussion, Kazi Md Aminul Islam, executive director of the Bangladesh Investment Development Authority (BIDA), said Bangladesh currently had a very congenial situation for investment. The country’s GDP) had increased recently.

The programme was conducted by the prime minister’s advisor on International Affairs Dr. Gowher Rizvi, while coordinator (SDG affairs) Mohammad Abul Kalam Azad, high officials of the Bangladesh Bank, National Board of Revenue and the Prime Minister Office were present.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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