Youngone chief urges foreign investors to choose Bangladesh, lauds interim govt's efforts

Highly appreciating the current interim government's efforts, Chairman of Youngone Corporation and a pioneer in Bangladesh's readymade garments (RMG) and textile sectors, Kihak Sung today (7 April) urged the visiting foreign investors to consider Bangladesh as their future investment destination.

"You can count on this new administration in Bangladesh," he told the foreign investors, stressing that the interim government is truly serious about ensuring all the facilities for the investors.

Kihak Sung said the many governments in the past sought Foreign Direct Investment (FDI) but the current administration is acting in a very effective way.

He invited the foreign investors to invest in the Korean Export Processing Zone (KEPZ) in Anowara and beyond taking the advantages that the country offers.

"We had a tough time," Kihak Sung said, referring to the land related disputes and said with new interim government in place things are fixed now.

Encouraging the investors to invest in Bangladesh, he said Bangladesh is a very resilient country. "I am hugely in love with Bangladesh."

Around 70 investors from South Korea, China, Japan, Australia, India and the Netherlands visited the KEPZ and saw the facilities that it offers, Chief Adviser's Deputy Press Secretary Abul Kalam Azad Majumder told UNB.

Sung and Jahangir Sadat, president of Youngone Bangladesh, welcomed the visiting foreign investors at the KEPZ in Anowara that stands as a model for private industrial zones in Bangladesh, fostering export-driven industries and attracting foreign direct investment (FDI).

Developed and managed by Youngone Corporation, a pioneer in Bangladesh's textile and apparel sector, KEPZ reflects global best practices in industrial development and sustainability, officials said.

The zone is committed to high-tech industrial development, with 48 green-certified factories spanning 7 million square feet, alongside advanced logistics and warehousing facilities.

Strategically located, KEPZ is positioned along the left bank of the Karnaphuli River, just a 15-minute drive from Chattogram's Shah Amanat International Airport via the Karnaphuli Tunnel. Spanning 2,492 acres, it is the country's largest privately owned and eco-friendly export processing zone.

Through extensive reforestation efforts, Youngone has transformed what was once barren land into a thriving green industrial space, reinforcing its commitment to environmental conservation and world-class operational standards.

DPS Azad said 52% of land is dedicated to green spaces and water bodies with huge trees planted across the KEPZ.

Sung said KEPZ houses Bangladesh's largest man-made fiber production facility, expanding to 2 million SFT and all factories equipped with wastewater treatment plants to ensure sustainable production.

The foreign investors are visiting Chattogram as part of Bangladesh Investment Summit that began on Monday and they are impressed by the facilities in KEPZ.

The investors will visit Mirsarai Economic Zone in Chattogram later today.

Shift towards renewable energy both urgent necessity and strategic investment opportunity: BIDA

On 8 April, the foreign participants will visit the Japanese Economic Zone at Araihazar.

Bangladesh is hosting the global investors and top executives aiming to spotlight the country's evolving investment landscape, poised for transformative opportunities and unprecedented growth.

Global investment leaders, executives and industry pioneers will engage in discussion as Bangladesh redefines the future of investment in one of the world's most dynamic markets in Dhaka until 10 April.

Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun said the main event will be held at a city hotel on 9 April where Chief Adviser Prof Muhammad Yunus will join.

"It's a collective effort. Private sectors and embassies (foreign missions in Dhaka) are equally involved," said the BIDA Executive Chairman.

He said Bangladesh will listen to foreign investors to know how they view Bangladesh investment climate and how Bangladesh can further improve the investment climate.

Since domestic investors are major drivers, leading businessman Syed Nasim Manzur will also speak as the government wants to know local investors' views.

Five companies and individuals will also be honored for their contributions and one of the foreign investors will be awarded honorary citizenship.

Ashik said there will be more rooms for having bilateral meetings, and there will be a corner for signing MoUs and agreements keeping eyes on future investment. "We are thinking of signing an agreement with NASA on non-military space exploration. Once it is signed, we will be able to share in detail," he said.

The BIDA executive chairman said they need to fix the global narratives on Bangladesh and improve the ease of doing business significantly.

"Foreign investors need a clearer understanding of Bangladesh's economic landscape and growth potential. This summit will not only showcase investment opportunities but also highlight the significant reforms undertaken to create a more business-friendly environment," he said.

Delegations from China, the UK, the US, Singapore, South Korea and India are among the global participants.

Baroness Rosie Winterton , UK's trade envoy to Bangladesh, Jarno Syrjälä, under-secretary of state for International Trade at the Ministry for Foreign Affairs of Finland, Sultan Ahmed bin Sulayem, group chairman & CEO of DP World, Óscar García Maceiras, CEO of Inditex, Mike Orgill, senior director at Public Policy & Government Relations of APAC, Uber, Kyeongsu Lee, vice president of SAMSUNG C&T, Jon Omund Revhaug, executive vice president and head of Telenor Asia, Han Jun-seokt, CEO of Giordano Korea are among the key guests, according to the BIDA.

The BIDA executive chairman said Bangladesh wants to give a "genuine view" of Bangladesh to the global investors, telling true stories of investment opportunities that Bangladesh offers.

"It's very difficult to give investors a genuine view and tell the true stories until we bring them physically. We want to give the investors a real picture through the Bangladesh Investment Summit," he said.

Referring to remote research made by investors, Ashik said what the investors know about Bangladesh remotely without their physical presence is not the right picture of the country as the ground reality is different.

Responding to a question, the BIDA Executive Chairman said the investors are coming to Bangladesh, keeping in mind the "short-term disruption."

Ashik said they want to give a picture to the global investors that it is a different environment and the long-term view is still very positive.

He said there will be dedicated rooms for three political parties- BNP, Bangladesh Jamaat-e-Islami and National Citizen Party - so that the investors can get a view on the political front from the representatives of these political parties.

A cultural segment will also be there to present Bangladesh before the foreigners showcasing its rich cultural heritage.

On 10 April, multiple breakout sessions will cover key investment sectors such as digital economy (led by Citi NA & UNDP), textiles (HSBC & BGMEA), agriculture and agro-processing (Dutch Embassy & LCP), and healthcare (Inspira, EBL & Sajida Foundation).

The day will also feature a matchmaking session and a roundtable discussion on global investment best practices.

Key partners for the event include UNDP, FCDO, Grameenphone, the World Bank, and FICCI, highlighting the collaborative efforts to drive foreign direct investment (FDI) in Bangladesh.

Ahead of the Bangladesh Investment Summit, Chief Adviser Muhammad Yunus said, "There has never been a better moment to explore the extraordinary investment opportunities in Bangladesh."

Yunus said Bangladesh has undergone profound transformations with a forward-thinking investment climate. "We are committed to ensuring a level playing field for all our investors," said the Chief Adviser in a message to global investors.

Yunus said the Summit is a gateway for investors to have more data driven insights. "Come and witness the potential that Bangladesh holds for you. And join us in shaping the future of investment in one of the world's most dynamic economies."