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The Federation of Bangladesh Chambers of Commerce and Industry has urged US investors to invest more in Bangladesh as the country continues to be one of the fastest growing economies in the world.
FBCCI President Md Jashim Uddin made the urge on Tuesday during a virtual meeting – Bangladesh Forward: The New Frontier for Growth – organised by US Chamber of Commerce with the leaders of US-Bangladesh Business Council.
Prime Minister Sheikh Hasina delivered the keynote remarks at the programme.
Jashim also said the US had always been a great friend of Bangladesh and also is a key development partner sharing a number of multilateral interests, said a press release on Wednesday.
The FBCCI president also hoped for more diversified portfolio in trade relations with the US.
Potential areas include manufactured products, logistics and technology-based products and services.
“There is close partnership between the two countries in the areas of economy, sustainable growth, climate change, health and education, etc. There is American investment in gas & petroleum, banking & insurance, power, textiles, trading and IT sectors in Bangladesh,” he said.
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 added.
He also added that Bangladesh has been strongly emphasising on infrastructure development, tourism, power and energy access, investment and business environment, ease of regulatory procedures, connectivity, among others.
“The establishment of 100 special economic zones is now being constructed in different districts to ensure 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.
