PM seeks larger foreign investment in Bangladesh

Prime Minister Sheikh Hasina has sought robust foreign investment in Bangladesh saying her government has been taking every possible measure to attract overseas investment.

"We're taking various measures as foreign investment in larger volume can come to Bangladesh," she said.

The premier said these while opening the two-day programme marking the 60th anniversary of the Foreign Investors Chamber of Commerce and Industry (FICCI) and Investment Expo-2023 at a city hotel on Sunday.

She said her government is setting up 100 economic zones and has already built 39 high-tech parks across Bangladesh.

"We have kept open the economic zones and high-tech parks for foreign investments. If a country wants land (in the economic zones or high-tech parks) it can get it, or it can also invest in a collaboration if it wishes or can go for investment under the private public partnership (PPP)," she said.

She continued that they are creating scopes for attracting foreign investments in many ways.

The premier also said her government has established the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zone Authority (BEZA), Bangladesh Economic Processing Zone Authority (BEPZA), Bangladesh Hi-Tech Park Authority (HTPA) and Public Private Partnership Authority (PPPA).

"One-stop service has been introduced in investment development agencies to facilitate investment," she said.

The prime minister said they have undertaken plans to make all offices providing investment services fully online and digitized.

At the same time, she said they are continuously working to simplify the investment policy, including tax waivers, remittance royalties, exit policies, dividends and full repatriation of capital, and foreign investment protection by law.

Sheikh Hasina said her government has recognized the logistics sector, fourth industrial revolution-related sectors and tourism sector as industries in the National Industrial Policy 2022 to attract local and foreign investments.

She continued that her government has formulated new schemes to attract investments in larger volumes in the blue economy sector.

Coming to power for the first time in 1996 after 21 years, she said the Awami League government had made open the private sector and taken various measures to attract foreign investments following the footsteps of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

"Bangladesh has marched well ahead towards economic prosperity due to taking the measures," she said.

After assuming power for the second time in 2009, she said they have been able to make huge changes in Bangladesh in terms of development and prosperity in the last 15 years.

"We have been able to transform Bangladesh into one of the fastest-growing economies in the world," she added.

She went on to say they could have been able to take the country's economy much ahead if the world economy had not faced the Covid-19 pandemic, the Russia-Ukraine war, sanctions and counter-sanctions.

The prime minister was presented a memorial memento, the symbol of Bangladesh that is marching towards advancement, made by eminent Bangladeshi artist and sculptor Hamiduzzaman Khan.

Commerce Minister Tipu Munshi, Prime Minister's Private Industry and Investment Adviser Salman Fazlur Rahman, Senior Secretary of Commerce Ministry Tapan Kanti Ghosh, Executive Chairman (Senior Secretary) of the Bangladesh Investment Development Authority (BIDA) Lokman Hossain Miah, FICCI President Naser Azaz Bijoy and its Senior Vice President Deepal Abewickrema, spoke on the occasion.

Several internationally successful investors, who invested in Bangladesh, also addressed the function.

A video documentary titled "Forever Futures Forward" was screened on the occasion.

/KN/