Bangladesh seeks greater Singaporean investment in ICT, digital infrastructure

State Minister for Foreign Affairs Shama Obaed Islam has invited greater Singaporean investment in Bangladesh, particularly in sectors such as ICT and digital infrastructure.

Singapore expressed interest in enhancing cooperation with Bangladesh in digital governance and capacity building, particularly in ICT-related sectors.

The issues were discussed when Chargé d'Affaires (CDA) of the High Commission of Singapore to Bangladesh, Mitchel Lee met the State Minister at her office on Wednesday.

The State Minister highlighted the government's focus on increasing efficiency in public service delivery, ensuring transparency, and reducing costs through digital transformation.

Both sides discussed potential collaboration in the energy sector, including investment in waste-to-energy power plants and renewable energy initiatives in Bangladesh.

The Singapore side conveyed its interest in exploring opportunities in renewable energy, said the Ministry of Foreign Affairs.

The State Minister underscored the importance of reducing the existing trade imbalance and emphasised the need to identify and promote exportable products from Bangladesh.

The Singapore side noted its interest in diversifying sources of food imports to enhance food security and highlighted potential imports from Bangladesh, including agro-products such as mangoes and seafood, with the involvement of supermarket chains.

The State Minister also encouraged increased exports of Bangladeshi products such as jute, ceramics, and leather goods.

Both sides discussed the importance of exchanging business delegations to promote targeted engagement.

The State Minister welcomed potential Singaporean investments, highlighting the business-friendly environment and policies of the Government.

The two sides also expressed satisfaction with the progress of bilateral engagements and welcomed the prospect of Bangladesh hosting the next round of Foreign Office Consultations in Dhaka this year.

Both sides reaffirmed their commitment to further strengthening the bilateral relations for the mutual benefit.

The CDA congratulated the State Minister on her assumption of office.

The State Minister reaffirmed Bangladesh's commitment to further strengthening the longstanding friendly relations.

During the meeting, the CDA briefed the State Minister on ongoing bilateral engagements, particularly highlighting the strong people-to-people ties between the two countries.

He noted the positive reputation of Bangladeshi workers in Singapore and shared that new opportunities are expected to emerge with upcoming large-scale infrastructure and land development projects, including new Terminal of Changi Airport.

The State Minister emphasised the importance of expanding opportunities for both skilled and semi-skilled Bangladeshi workers in Singapore, noting that employment generation and vocational training are key priorities of the Government.

The CDA expressed Singapore's keen interest in concluding the Bangladesh–Singapore Free Trade Agreement (BSFTA) at an early date and requested continued cooperation on the Bay Terminal project.

The State Minister assured that Bangladesh would extend full cooperation and facilitate progress through coordination with the relevant government agencies.