Malabar Gold and Diamonds, one of the largest jewellery retailers in the world, said it will invest up to $100 million in Bangladesh in the next three to five years.
A senior official of the company made the announcement at the 3rd Bangladesh Economic Forum that concluded at the Movenpick Grand Hotel in Dubai, a press release said on Friday.
Meanwhile, Dubai-based home improvement company Danube Homes announced its foray into Bangladesh with a franchise partnership agreement with Dhaka-based Daffodil Group signed at the same event.
The partnership agreement will see Danube Homes rolls out multiple stores across Bangladesh.
More than 300 delegates comprising of business leaders from the UAE and Bangladesh were present at the 3rd Bangladesh Economic Forum.
Foreign Minister Dr AK Abdul Momen and Salman F Rahman, Advisor to Bangladesh Prime Minister on Investment and Private Industries, delivered keynote speeches at the event.
In his keynote speech, Dr AK Abdul Momen urged the UAE investors to invest in Bangladesh.
“The business community should take advantage of the strong UAE-Bangladesh relations and come closer to tap the untapped economic potential and create a win-win situation,” he said.
Salman F Rahman urged UAE investors to visit and see the new Bangladesh for themselves.
“I urge all of you to come and visit Bangladesh and see what Bangladesh has to offer and how you could benefit from the growing opportunities in Bangladesh where 165 million people are becoming economically empowered," he stated.
The high-profile event also saw presentations by Sirazul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA), Sheikh Yousuf Haroon, Executive Chairman of Bangladesh Economic Zones Authority (BEZA) and Prof Shibli Rubayat Ul Islam, Chairman of Bangladesh Securities and Exchange Commission (BSEC).
President of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) and senior officials of Bangladesh Garments Manufacturers and Exporters Association (BGMEA) led a 75-member delegation to the event.
