The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the US-Bangladesh Business Council have signed a memorandum of understanding (MoU) to enhance policy engagement, bilateral investment and trade.
The MoU was inked at the first US-Bangladesh Business Summit jointly organised by FBCCI and US-Bangladesh Business Council in Dhaka on Monday, a press release said.
The summit was attended by members of a high-level US industry delegation that is now visiting Dhaka.
At the event, the delegation showed interest in joining Bangladesh’s growth story and expressed the spirit of collaboration with the Bangladeshi business and the government.
Presiding over the conference, Commerce Minister Tipu Munshi said, “Now is the golden time for investment in Bangladesh.”
He urged the US businesses to invest in Bangladesh and build strong commercial and strategic relations between the two countries.
FBCCI President Md Jashim Uddin said that the USA should choose Bangladesh as their next investment destination.
He said the Bangladesh government is providing various benefits, including tax exemption and duty drawback, to the foreign investors.
“The USA entrepreneurs may consider renewable energy, LNG terminal, inland container depot, warehouse and cold chain, automobile, hotel and hospitality, banking and insurance as the potential sectors for investment in Bangladesh,” the FBCCI chief added.
Speaking on the occasion, Chevron Vice-President (Business Development) and Mission Lead of the trade delegation Jay R Pryor said that Bangladesh has made remarkable economic progress across a diversity of sectors.
He noted that energy development along with 100 per cent electrification is the key to Bangladesh’s success.
In achieving Bangladesh's Vision 2041, Pryor said, the US businesses are keen to strengthen bilateral ties and which is why he is leading 30 executives to see the new and transformed Bangladesh.
US-Bangladesh Business Council Director Sidhanta Mehra said the magnitude of the trade delegation efforts is a reflection of the importance that the US business has put on Bangladesh.
He encouraged the US and Bangladeshi businesses to work together to advocate the continued support for investors in Bangladesh.
