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PM urges US businessmen to invest in Bangladesh

Prime Minister Sheikh Hasina has urged US businessmen to invest in Bangladesh’s infrastructure and investment-friendly environment.
The Prime Minister made the call during a meeting with the Executive Business Delegation of the US-Bangladesh Business Council at Ganobhaban on Tuesday morning.

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He said, “Bangladesh has been recommended to be removed from the list of least developed countries by 2026. We aspire to become a developed and prosperous country by 2041. To that end, we need more investment from our allies, especially the United States. ”

Describing Bangladesh as an ‘attractive investment destination’, the Prime Minister said, “In addition to developing physical infrastructure, we have updated and simplified investment and business regulations. Bangladesh has the most generous investment policy in South Asia. ”

He also said that the protection of foreign investment in the country has been ensured through law and bilateral agreements.

Recently, 100 per cent areas of Bangladesh have been brought under electricity, said Sheikh Hasina. We are setting up 100 special economic zones for domestic and foreign investors across the country. ”

The head of government also promised to set up a separate economic zone for US investors if they so wished.
Referring to the young manpower of Bangladesh, Sheikh Hasina said her government has focused on building skilled human resources, which will enable investors to get skilled workers at competitive wages.

“Bangladesh-US friendship is built on similar values ​​and mutual interests. This is reflected in the expansion of the overall trade relations between the two countries. The duty-free entry of Bangladeshi goods into the US market and other trade facilities could further strengthen trade relations between the two countries. ”

Stating that Bangladesh is ready to negotiate a free trade agreement (FTA) with the United States in due course, the Prime Minister said Bangladesh’s exports to the United States have increased by about কোটি 3 billion in the last five years. In the fiscal year 2021-2022, the export of goods has been 800 million dollars, which was 560 million dollars in the financial year 2016-2017.

Sheikh Hasina said the United States has been one of the trusted development partners of Bangladesh since independence and has been contributing to the socio-economic development of the country. As a single country, the United States is Bangladesh’s largest source of foreign direct investment and export market.
The Prime Minister also mentioned that US companies could get special benefits in Bangladesh by investing more in potential sectors including power, energy, ICT, infrastructure, light engineering products, mobile phone and electronic products, automobiles, agro-processing, pharmaceuticals, ceramics.

Addressing the US Trade Representative, he said, “During this visit, you must have seen the ongoing mega projects through which we hope for more foreign direct investment. Our government has adopted a strategy for achieving long-term growth for the citizens of the country, which has been recognized as sustainable by international economists and various organizations. ”

Highlighting the birth centenary of Bangladesh’s architect Bangabandhu Sheikh Mujibur Rahman and the golden jubilee of Bangladesh’s independence, Sheikh Hasina also expressed her desire to build the ‘Golden Bengal’ of the Father of the Nation’s dream by establishing Bangladesh as a developed country free from hunger and poverty.

With such a strong potential in mind, we guarantee the best possible policy framework to facilitate your business and investment environment. ”

The Prime Minister said he believed that the US-Bangladesh Power and Energy Task Force, which was inaugurated in September 2021, would be instrumental in advancing power and energy cooperation between the two countries’ partners.

“Similarly, the proposed US-Bangladesh Digital Economy Task Force will play a key role in strengthening cooperation for sustainable development for companies from both countries.”

He said, “I am sure you will feel confident about your potential investment in the friendly environment of Bangladesh. Bangladesh is now recognized for operating state-of-the-art manufacturing plants in readymade garments, leather, plastics, jute, ICT, agricultural processing and many more. Now is the time for us and for you to invest in this country and take advantage of these opportunities. ”

Recalling the launch of the US-Bangladesh Business Council on April 7 last year, the Prime Minister thanked the US delegation for visiting Bangladesh.

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