Separate committee to be formed to facilitate expatriates' investment: Tipu

Commerce Minister Tipu Munshi has said that a separate committee would be formed under the leadership of the Ministry of Commerce to provide support to the expatriates to invest in Bangladesh and also provide them trade and commerce related support.

"This committee will work to take effective steps to ensure the required facilities frequently sought by the expatriates to invest in Bangladesh," he said.

The commerce minister, who is now in Dubai to take part in the World Expo-2020, also known as Dubai Expo-2020, said this while giving an interview to BSS.

He said that if the expatriates face any problem regarding investment in Bangladesh and also for conducting their business operations, the problems would be resolved on an urgent basis.

"The government is mulling to form such a committee so that the investment proposals of the expatriates get the highest attention," Tipu added.

He informed that the committee, headed by the Ministry of Commerce with the representatives from the Ministry of Industries, Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (Beza), would take effective steps regarding the investment proposals placed by the expatriates.

"Besides, the committee will work to further simplify the investment of the expatriates," he said.

Earlier on Thursday, the World Expo-2020 also known as Dubai-Expo-2020, which is one of the largest expositions of the world, was formally kicked off in Dubai with the participation of 192 countries, including Bangladesh alongside many international organisations and companies.

As part of Bangladesh's participation at the expo, the Bangladesh Pavilion was inaugurated on Friday by Commerce Minister Tipu Munshi.

Bangladesh for the first time took part in the Expo with its own pavilion.

The six-month long expo would continue till 31 March, 2022 where the socio- economic progress, history, culture and heritage of Bangladesh over the last 50 years would be highlighted.

While addressing a seminar organised by the NRB CIP Association, the commerce minister urged the expatriate businessmen to invest in Bangladesh as businessmen from some 30 countries took part in that seminar.

Tipu told the expatriate businessmen that Bangladesh is now ready for investment as economic zones are being set up across the country. "If you (expatriate Bangladeshi businessmen) invest in Bangladesh, the foreigners will feel encouraged to invest in Bangladesh," he said.

The commerce minister also gave assurance to the expatriate businessmen to address the problems which would arise in the way of their investment and business operations adding, "If investment related proposals come haphazardly, it will become tough for the government to work on those. But, if those proposals come through a specific platform, it will be easier for us to deal with those."

In response to a proposal for allocating a dedicated special economic zone for the expatriates, he said that the government would consider the matter positively.

Referring to the participation of Bangladesh at the Dubai Expo-2020, Tipu said, "Bangladesh is no longer a lagging behind country rather it has significant success and those would be highlighted before the global arena through this expo."

He expressed hope that the global community would see Bangladesh at the Expo as a strong Bangladesh. The visitors are paying visits at the Bangladesh Pavilion titled "Indomitable Bangladesh: Towards Sustainable Development" in large numbers and showing their interests about the Bangladeshi products.

The Dubai Expo-2020 was supposed to take place last year, but it could not be held due to the Covid-19 pandemic. The last World Expo took place at Milan, Italy in 2015.