Foreigners want ease of doing business to improve further

Foreign investors want the ease of doing business to improve further and it needs to happen for foreign trade and investment to increase. At the same time, the authorities must focus on improving the business environment, say foreign diplomats and investors.

On the occasion of its 50th anniversary, the country’s apex trade body FBCCI is set to organise the “Bangladesh Business Summit 2023” on March 11-13.

Foreign diplomats and investors shared their observations at a networking luncheon for the mega program, with diplomats of different countries, organised by FBCCI at Hotel Sheraton in Dhaka’s Banani on Thursday.

The summit will be organised in partnership with the government. Prime Minister Sheikh Hasina will inaugurate the event and the Best of Bangladesh Expo.

Envisaged to become the flagship bi-annual event to promote Bangladesh’s businesses, the summit seeks to highlight the country’s economic and market strengths, and concrete trade and investment opportunities by convening national and global businesses leaders, investors, policy and market analysts, policymakers, practitioners, academia, and innovators from 29 countries.

The event’s objectives are highlighting the foundations for sustainable growth trajectory; showcasing the dynamic business and investment opportunities and the improvements and business environment reforms; gaining insights into investment priorities of the global investors to improve policy; facilitating the exchange of investment success stories and good practices among investors; seeking investors’ views and suggestions to create more partnership opportunities; securing concrete investment interest, proposals and develop a solid investment pipeline for important sectors; and facilitating effective networking, dialogue and partnership opportunities among national and international investors, policymakers and broader group of stakeholders.

At Thursday’s event, chief guest Foreign Minister AK Abdul Momen said Bangladesh is moving towards the right direction to become a trillion-dollar economy by 2035. This country is the most lucrative and profitable investment-securing stable economy that is in favour of business.

“This summit will help us to attract foreign investment and interact with investors. Bangladesh has the opportunity to focus on diversified products, low-cost labour and technology transfer and that increases competitiveness in the markets. We can achieve our goal and strengthen our capacity,” he said.

“We need partnership and collaboration with our foreign trade partners. It will be a win-win for all of us. Foreign investors will get a higher return on investment from Bangladesh compared to other countries,” he added.

Special guest Commerce Minister Tipu Munshi said, “Our priority is to ensure ease of doing business, and for this sake, we took initiatives to provide all necessary support to promote business.”

He said the summit is important for foreign and local businessmen to interact with each other.

FBCCI President Md Jashim Uddin, among others, also spoke at the event.