UAE-based Bangladeshis eye Tk1,000cr investment at home

Bangladeshi businesspeople and entrepreneurs living in the United Arab Emirates (UAE) are interested in investing around Tk1,000 crore in Bangladesh, provided the government facilitates approvals, land or lease arrangements, infrastructure and investment protection.

Members of the Bangladesh Commercially Important Person (CIP)-Business Association disclosed the plan at a press conference at the Economic Reporters Forum (ERF) auditorium today (17 August).

Association Member Secretary Mohammad Selim Uddin said the proposed investment would cover digital and AI-based Islamic banking, dry food processing and packaging, e-rental services, solar panels and renewable energy, tourism, education and healthcare.

The association also offered support, if sought by the government, to help keep four UAE branches of Janata Bank operating amid capital shortages.

At the press conference, the business representatives also raised concerns over longstanding visa problems faced by Bangladeshi workers in the UAE.

They said Bangladeshi workers have been unable to change employers within the UAE for around 12 years, leaving many uncertain about their jobs and livelihoods. They called for high-level talks between the two governments to restore the facility.

The representatives said thousands of expatriate Bangladeshis have also become stranded at home following recent visa cancellations, although many still have jobs, businesses and families in the UAE.

They urged the Ministry of Expatriates' Welfare and Overseas Employment and the Ministry of Foreign Affairs to prepare a list of those affected and engage with the UAE authorities to facilitate their return.

The association also proposed appointing skilled and experienced officials at Bangladesh's embassy and consulate, introducing a 24-hour emergency helpline and digital complaint system, and setting up expatriate support cells in coordination with local authorities.

A total of 15 proposals were presented at the press conference. These included resolving visa problems, providing language and skills training before departure, issuing expatriate cards, educating workers about local laws, bringing home the bodies of deceased expatriates at government expense, improving healthcare access, increasing remittance incentives, reducing airfares and strengthening protection for expatriates' assets and investments.

They also sought easier access to loans and insurance and emergency assistance for Bangladeshis in the Middle East during crises.

The representatives said expatriates should be viewed not only as a source of remittances, but also as partners in the economy, investors and contributors to development.

Association Convener Mohammad Rubel said they had met the state minister for foreign affairs and the expatriates' welfare minister over the proposals.

"The government has agreed with us on these problems and assured us that they will be resolved very soon," he said.