Bourses to become main source of long-term financing: Land Minister

Land Minister Saifuzzaman Chowdhury said that the capital market will soon emerge as the main source of long-term financing in Bangladesh.

He came up with the remark on Monday while addressing as the chief guest of the first investment summit on capital markets in Bangladesh, a roadshow titled "The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh".

The event was organised by the Bangladesh Securities and Exchange Commission (BSEC) at a hotel in Zurich, Switzerland to showcase investment opportunities in the capital market of Bangladesh to the expatriate Bangladeshi and foreign, especially Swiss investors in the development of the capital market of Bangladesh.

Ambassador of Switzerland to Bangladesh Nathalie Chuard, Bangladesh Securities and Exchange Commission Chairman Professor Shibli Rubayat-Ul-Islam were present at the event.

"I think we are quite balanced and heading towards the right direction if you look at the balance we have between our macro-economy and micro-economy," the land minister said adding that the country under the leadership of Prime Minister Sheikh Hasina has raised to a certain level of development.

Calling upon the investors and businessmen present at the time, Minister Saifuzzaman Chowdhury said, "There is a wind of change in the air of Bangladesh; you'll see it, you'll feel it, once you invest there.

"Bangladesh has been a country with political stability for over a decade, a place you can rely on to make investments. Also, our economy is doing great," he added.

Calling it a win-win situation for both parties, BSEC Chairman Professor Shibli on his welcome note said that Bangladesh has a trained and educated labour force, a very business-friendly government, and favourable environment.

"Bangladesh Government is here to invite you. We want to be with you and we want you to come to Bangladesh with all your technical and innovative resources," he said.

BSEC has organized this series of roadshows to demonstrate Bangladesh Capital Markets and Trade & Investment opportunities globally and attract global investors and NRBs to invest in Bangladesh. After successful completion in Dubai and 4 major cities in the USA earlier this year, BSEC is conducting shows at Zurich and Geneva in Switzerland now.

The summit was attended by investors and business leaders of both Non-resident Bangladeshis and foreign institutional and individual investors. Bangladeshi high-level delegation team discussed and exchanged opinions with them and showcased the robust economic growth and investment potentials of Bangladesh, especially the immense opportunities in the refurbished capital markets and the infrastructural development to facilitate investments.

Senior Secretary of Finance Division Abdur Rouf Talukder, Senior Secretary of the Information and Communication Technology Division N M Zeaul Alam PAA, Executive Chairman of BEPZA Major General Md Nazrul Islam SPP, Member of National Board of Revenue Md. Alamgir Hossain participated in the summit, along with private sector leaders among others.