Singapore wants to invest in Bangladeshi EZs

Singaporean investors are interested in pouring money into economic zones (EZs) in Bangladesh on government-to-government and individual levels. 

Representatives of Singapore Business Federation (SBF), the apex business chamber of the Singapore business community, and Enterprise Singapore, a statutory board under the trade ministry of Singapore, expressed their interest in this regard on Monday during a meeting with the Bangladesh Economic Zones Authority (BEZA).

A joint delegation of the Singaporean organisations, led by Singapore’s High Commissioner to Bangladesh Derek Loh, discussed various investment related issues at the meeting, including tax holidays, the nature of investment and related expenses.

BEZA Executive Chairman Shaikh Yusuf Harun presided over the meeting where other senior officials of the organisation were present.

Singaporean High Commissioner Derek Loh said the Singapore government wants to strengthen the economic ties between the two countries. The Bangladeshi institutions in Singapore and the Singaporean government are working together at the policy-making level to that end.

“During Prime Minister Sheikh Hasina’s visit to Singapore in 2018, she urged Singaporean businessmen to invest in Bangladeshi EZs. Singaporean businessmen are now interested in investing in this country,” he said.

Highlighting the development of the country’s EZs, BEZA Executive Chairman Yusuf Harun said the government is establishing EZs with an aim to earn an additional $40 billion in goods production and export every year.

Urging Singaporean businessmen to invest here, he said Bangladesh now has an investment-friendly environment.