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With a rapidly growing domestic market and export opportunities under duty-free market access facilities, Bangladesh offers a favourable business environment and a high return on investment (ROI), policymakers have said, inviting foreign investors to invest here.
They made the call at the inaugural ceremony of the Bangladesh Trade and Investment Summit 2021, jointly organised by the commerce ministry and the Dhaka Chamber of Commerce and Industry at the Bangabandhu International Conference Centre in the capital on Tuesday.
Salman F Rahman, private industry and investment adviser to the prime minister, said it is easier for investors to start a company in Bangladesh than in other neighbouring countries as it offers investors a host of facilities.
He said investors get all infrastructure facilities in special economic zones and high-tech parks designed for local and foreign investors.
“Bangladesh guarantees a high return on investment. Factory efficiency and people’s purchasing power are increasing in this South Asian country of about 160 million people,” he said.
He also said Bangladesh was on track to graduate from the least developed country (LDC) status by 2026.
“It will have the greatest impact on exports, but it will also offer the country an abundance of opportunities.”
Like other graduates, Bangladesh would surely attract more foreign direct investment (FDI) and also improve its already stable credit rating even further, he said.
He further said Bangladesh’s middle-class and affluent consumers (MAC) market had already been termed interesting by many foreign investors.
“The market is already expanding and creating ample opportunities for foreign investors to tap into and seize the opportunity in view of the shrinking and saturated markets of their respective home countries,” he added.
Salman said Bangladesh offers a great opportunity for exporting to the global market taking advantage of the duty-free market access facilities, and it is concentrating on free trade agreements to retain trade facilities.
Commerce Minister Tipu Munshi said Bangladesh would be graduating from the LDC status in 2026 and progressing towards achieving the Sustainable Development Goals by 2030.
“We also envision becoming a prosperous and happy nation by 2041. To attain these goals, we have to ensure inclusive, sustainable, and environment-friendly growth,” he said.
He also said, “We are expressing our firm commitment to engage and work with the private sectors both at home and abroad to widen benefits arising from the newly evolved trade scenarios.”
“We are actively progressing towards securing free trade agreements and preferential trade agreements and looking forward to enhancing regional trade partnerships with our neighbouring nations,” he added.
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin said Bangladesh now offers one of the world’s most competitive fiscal and non-fiscal incentives, including profit repatriation, tax holiday, and duty-free import of capital machinery.
“With vast scopes for export diversification, I would invite foreign investors to visit Bangladesh and see for themselves. We shall be able to become the South Asian centre for excellence and also a regional hub with access to road, rail, and water ways.”
The FBCCI chief also said there are many opportunities in the global supply chain due to regional integration and globalisation.
Dhaka Chamber of Commerce and Industry President Rizwan Rahman said the Bangladesh economy’s digital transformation had set a new milestone and spearheaded private sector-led business operations.
“Industrial and physical infrastructure are addressed for an investment-efficient industrial ecosystem through 100 economic zones, 28 high-tech parks, active pharmaceutical ingredient (API) parks, mega projects, 10 export processing zones, and engagement with multimodal connectivity to enable regional economic integration.”
He also said Bangladesh offers the most liberal FDI regime in South Asia, allowing 100 per cent foreign equity, unrestricted exit of royalty, equity with a wide range of tax concessions and incentives, a vibrant capital market, and a strong demographic dividend.
