Brunei urged to consider Bangladesh as its next investment destination
The Federation of Bangladesh Chambers of Commerce and Industry on Sunday urged Brunei to consider Bangladesh as its next investment destination.
"We have many ongoing development projects such as deep seaports, hundred economic zones, hi-tech parks, nuclear power plant, metro rail, LNG terminal and road infrastructure to facilitate investment. Our story is now different from what it was," FBCCI President Md Jashim Uddin said during a meeting with the visiting Brunei delegation at a capital hotel, said a press release.
"We foresee the scope of strengthening cooperation in trade and investment between the two countries," he said, adding that Brunei and Bangladesh together can focus on development and innovation, food processing, ICT, Plastic, petrochemical, shipbuilding, tourism, infrastructure development, petroleum and energy and knowledge transfer to facilitate the transition of the fourth industrial revolution.
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Taking part in the event, Commerce Minister Tipu Munshi highlighted some of the major benefits Bangladesh offers for foreign investment. "Investing in Bangladesh is worthy for many reasons. Bangladesh itself has a gigantic market. Besides, most made-in-Bangladesh products enjoy duty-free access to the Indian and Chinese markets."
On migration costs, the minister urged Brunei to withdraw the discriminatory rule for Bangladeshi migrant workers to the country. Currently, Bangladeshi workers need to deposit $1,600 to work there while the amount is only $500 for Malaysian workers, he noted.
"We are now focusing more on creating skilled manpower," Md Shahriar Alam, state minister for foreign affairs, said and called for recruiting more Bangladeshi people by Brunei.
Brunei Finance and Economy Minister Amin Abdullah urged Bangladeshi to use their ports as transhipment hubs to trade with China. "It will save time and money," he added.
Brunei Home Minister Ahmaddin bin Haji Abdul Rahman lauded the contribution of the Bangladeshi workers in keeping the Brunei economy afloat.
FBCCI Vice-Presidents Md Amin Helaly, Salahuddin Alamgir, Md Habib Ullah Dawn, its Director Priti Chakraborty, BGMEA President Faruque Hassan and Foreign Investors' Chamber of Commerce and Industry President Naser Ezaz Bijoy, among others, were present at the event, the release reads.
After the meeting, a memorandum of understanding was signed between Bangladeshi ZES Trading and Bruneian Ghanim International Corporation to introduce Brunei Halal foods in Bangladesh. Nur Rahman of Ghanim International and Kazi Ertaza Hassan of ZES Trading inked the agreement on behalf of their respective organisations.
Later, Brunei Finance Minister Dato Amin and Brunei Home Minister Dato Ahmaddin inaugurated a flagship outlet of Brunei Halal foods in the capital's Gulshan-2 area.
