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26 September, 2018 08:35:42 AM
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PM woos US entrepreneurs to invest in Bangladesh

Independent Online Desk
PM woos US entrepreneurs to invest in Bangladesh
Prime Minister Sheikh Hasina speaks at a round table discussion organised by the US Chamber of Commerce at the hotel Grand Hyatt in New York on Monday. pid photo

Prime Minister Sheikh Hasina on Monday urged the US businessmen to invest in Bangladesh as the country's strategic location is making it an emerging hub for regional connectivity, foreign investment and global outsourcing, reports UNB from New York.

"I invite you to come to Bangladesh withyour businesses, technology, and innovations for mutual benefits. Please join us in ourjourneyofsharedprofitand prosperity. I assure you of my government's full support and cooperation,"she said.

The Prime Minister, now in New York to attend the 73rd session of the United Nations General Assembly, made the call while addressing a luncheon roundtable meeting with the US Chamber of Commerce (USCC).

The US Chamber of Commerce arranged the meeting at hotel Grand Hyatt here where the Bangladesh Prime Minister is staying.

Sheikh Hasina said, "Bangladesh's strategic locationis making us an emerging hub for regional connectivity, foreign investments and global outsourcing. We've taken initiatives to connect our Indian, Chinese and South East Asian neighbours. Bangladesh could be a gateway to a market of 4 billion people-itself offering a strong and growing market of 160 million."

Stating that Bangladesh has undertaken employment generating megaprojects, she mentioned,"We're ready to take up more in diversified areas of infrastructure, connectivity and high techfor a sustainable double-digit growth. To the thrust sectors, I add growing services sectors of banking and finance, tourism, health and education."

Hasina further said, "We also want to open new avenues of blue economy. We're establishing 100 Exclusive Economic Zones for new industriesand investment at both public and private sectors. Two dozen high-tech parks are ready."

Mentioning that Bangladesh has the most liberal investment policy in South Asia with most attractive incentives and highest profit rate, the Prime Minister said the policy includes protection of FDI by law, incentives like generous tax holiday, concessionary duty on import of machinery, duty-free importof rawmaterials,remittances on royalty, 100 per cent foreign equity, unrestricted exit policy, and full repatriation of dividend and capital on exit.

Other advantages for investors include the young, committed and easily trainable workforce with highly competitive wages, cheaper costs of setting business, access to a large duty-free quota free market, low cost electricity and water, Bangladesh's good credit rating, minimum risk factors, and fast technology adaptability, she added.

KK

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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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