PM seeks more US investment in Bangladesh

Prime Minister Sheikh Hasina has called for larger investment of the US companies in cross sectors, particularly power, energy, ICT and infrastructure.

"I believe US companies will take advantage and invest more in potential and productive sectors like power and energy, ICT, infrastructure, light engineering and electronics, automobile industry, agro-processing, pharmaceuticals, and ceramics, among others," she said.

In her introductory speech in a meeting with the visiting executive business delegation from the US-Bangladesh Business Council at Ganabhaban on Tuesday evening, she said that currently, Bangladesh has the most open Foreign Direct Investment policies in South Asia.

The premier said that the friendship and partnership between Bangladesh and the USA proved to be mutually beneficial for both countries and deeply rooted in mutual trust.

"Since independence, the US has been one of our trustworthy development partners, contributing to our socio-economic progress. Being the single largest source of FDI and export market for Bangladesh, I wish the USA would continue to support its growth trajectory," she said.

The prime minister said her government is pursuing a sustainable long-term growth strategy for the citizens as acknowledged by global economists and organizations.

She continued that they are now more united than ever before and have promised to realize the vision of Smart Bangladesh by 2041.

"With such a strong prospect, I would now assure you of the best possible policy framework to ease our business and investment climate and make it friendlier to you," she said.

She said that the US-Bangladesh Energy Taskforce and the US-Bangladesh Digital Economy Task Force will contribute to deepening the cooperation of companies from both countries to ensure their sustainable development.

Sheikh Hasina said Bangladesh had ensured the most attractive climate for investment that includes a liberalized industrial policy, one-stop service, an allowance for 100 per cent foreign ownership, an easy exit policy, a 15-year tax exemption, a VAT exemption for imported machinery, streamlined services, and more.

/KN/