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PM seeks larger UAE investment in Bangladesh

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Update: 2019-11-18 12:38:25
PM seeks larger UAE investment in Bangladesh Bangladesh Prime Minister Sheikh Hasina

ABU DHABI, UAE: Bangladesh Prime Minister Sheikh Hasina urged UAE entrepreneurs to invest in potential sectors including RMG, IT, agriculture and special economic zones in Bangladesh in larger scale.

She said: “Our government has taken initiatives to attract foreign investments in our Economic Zones, Special Economic Zones and High Tech Parks.”

The premier was addressing a dinner reception arranged in her of honour by the Bangladesh Embassy in Abu Dhabi at Shangri-La Hotel here.

Bangladesh Economic Zone authority is offering one-stop services to the investors for more than 100 infrastructure-related and utility services, Sheikh Hasina said.

Foreign Minister Dr AK Abdul Momen also spoke on the occasion while Bangladesh Ambassador to the United Arab Emirates (UAE) Muhammad Imran delivered the welcome speech.

Chairman and Managing Director of RELAM Investment Sultan Al Rashed Lootah, Chairman and Managing Director of Emirate Islami Bank Hesham Abdullah Al Qassim and Managing Director (International Operations) of Malabar Gold Shamlal Ahamed, among other entrepreneurs, were present.

Sheikh Hasina also said, “It includes protection of foreign investment by law; generous tax holiday; concessionary duty on import of machinery; unrestricted exit policy; full repatriation of dividend and capital on exit, to name a few.”

She said, “We welcome the UAE entrepreneurs to invest in Bangladesh in agro and food processing sectors.”

There is a huge potential of mutual trade and investment between Bangladesh and UAE along with opportunities for mutual collaborative engagements, she said.

 “Following my visit, we have received very positive response from the UAE side. The UAE firms have come up with proposals of investment in our power and energy sector, including solar energy,” she added.

“They have also shown interest in establishment of LNG terminal and port. We have also received proposal from Emirates Economic Zone to establish its ventures in Bangladesh Economic Zone on G2G basis,” she continued.

The premier also said that Emirates Economic Zone would like to establish sustainable Economic Zone, Halal Food processing unit and certification centres. “We have welcomed the proposal since agriculture is our major economic foundation,” she added.

“Currently, Bangladesh is regarded as wonder of development in international arena. Bangladesh is one of the fastest growing economies of the world,” PM Sheikh Hasina said.

BDST: 1238 HRS, NOV 18, 2019
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