FBCCI urged more US investment in Bangladesh

The Federation of Bangladesh Chambers of Commerce and Industry has urged the US investors to invest more in Bangladesh as the country is one of the fastest growing economies of the world.

FBCCI President Md Jashim Uddin made the urge on Tuesday at the virtual meeting titled ‘Bangladesh Forward: The New Frontier for Growth’ organised by US Chamber of Commerce with the US-Bangladesh Business Council leaders.

The meeting was held on virtual platform. Hon’ble Prime Minister of Bangladesh H.E Sheikh Hasina delivered the Key Note remarks at the program.

US Chamber of Commerce organized the meeting with the US-Bangladesh Business Council leaders as the side line program of the 76th UN General Assembly in honor of the Hon’ble Prime Minister of Bangladesh.

Mr. Md. Jashim Uddin remarked that USA has always been a great friend of Bangladesh and also is a key development partner sharing a number of multilateral interests. He mentioned that there are close partnership between the two countries in the areas of economy, sustainable growth, climate change, health and education, etc.

FBCCI President hoped for a more diversified portfolio in trade relations with USA.

Potential areas include manufactured products, logistics and technology-based products and services, he said.

“There is close partnership between the two countries in the areas of economy, sustainable growth, climate change, health and education, etc. There are American investment in gas & petroleum, banking & insurance, power, textiles, trading and IT sectors in Bangladesh. However, the potential for substantial high-tech and diversified investment portfolio is yet to materialise. In addition, the blue energy economy remains largely untapped which could be of interest to USA,” he said.

He also added that Bangladesh has strongly emphasised upon infrastructure development, tourism, power and energy access, investment and business environment, ease of regulatory procedures, connectivity and much more.

FBCCI urged more US investment in Bangladesh
The FBCCI president hoped for more diversified portfolio in trade relations with the USA.

Establishment of 100 special economic zones is under construction in different district areas to ensure the available planned land and utilisation of local recourses, Jashim said.

“Our manufacturers are adopting greener technologies and modern productions methods aligned with 4IR to modernise the entire system. Among world’s top 10 green RMG factories, top seven belong to Bangladesh.”

Jashim added that the bilateral ties between the two countries reflect the potential opportunities. “We have to deepen our cooperation in the areas of development and innovation, energy sector, MSMEs, joint collaboration for technical skills and TVET programme and knowledge transfer to transition of 4IR.”

He also mentioned that FBCCI as the apex trade body of the country is ready to launch a platform for networking and business contacts and arrange vis-à-vis meetings and trade fairs between entrepreneurs of both the countries.

A total of 33 members of Bangladesh business delegation led by Jashim Uddin is visiting USA as the entourage of Prime Minister Sheikh Hasina to join the 76th UN General Assembly.

Sajeeb Wazed Joy, Prime Minister’s Information and Communication Technology Affairs adviser, M Shahidul Islam, Bangladesh ambassador to the United States, Jay R Pryor, vice-president, Business Development and Board chair, US-Bangladesh Business Council, Nisha Biswal, president of US-Bangladesh Business Council and senior vice-president – South Asia, US Chamber of Commerce, and Faruque Hassan, president of BGMEA, also spoke on the occasion, among others.

Besides, Mostofa Azad Chowdhury Babu, senior vice-president, and Salahuddin Alamgir, vice-president of FBCCI, Md Shafiul Islam (Mohiuddin), former president of FBCCI, Rizwan Rahman, president of Dhaka Chamber, Nihad Kabir, president of MCCI, Dhaka also joined the event.

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