Finance minister vows deregulation, urges US businesses to invest

The government is pursuing deregulation and business-friendly measures to make it easier to do business and attract investment, Finance Minister Amir Khosru Mahmud Chowdhury has said.

He made the remarks during a meeting with the visiting US business delegation at the Secretariat today (12 August), according to sources familiar with the meeting.

The delegation was led by Oliver Simpson, executive vice-president and chief commercial officer of Excelerate Energy.

The US business representatives expressed interest in investing in various sectors of Bangladesh at the meeting, the sources said.

The finance minister said the government had decided to pursue deregulation to facilitate business and trade and reduce bureaucratic complications in government institutions.

He also said deregulation was being pursued to reduce corruption.

The government had already restored customers' confidence in the banking sector and was working to ensure accountability in other public and private institutions, he added.

"We are simplifying all kinds of policy support and formulating business- and trade-friendly laws and regulations," he added.

Ravi Aurora, senior vice-president for Multilateral Institutions, International Affairs, Government Affairs and Policy at Mastercard, delivered the delegation's opening remarks.

"Our expectation from a democratic government is to ensure a favourable environment for business and investment," Aurora said.

"We have come to see the business and investment environment in this country. There are tremendous investment opportunities and huge potential," he added.

He further said US businesses were also ready to increase investment if the government provided the necessary policy support.