Home minister urges US businesses to boost investment in Bangladesh

Home Minister Salahuddin Ahmed today (11 August) urged US businesses to increase investment in Bangladesh, assuring them of a business-friendly environment and comprehensive security for foreign investors.

The minister made the call when a high-level delegation from the US-Bangladesh Business Council (USBBC), led by its President and US Chamber of Commerce Senior Vice President for South Asia Atul Keshap, met with him at the conference room of the home ministry at the Secretariat this afternoon.

During the meeting, they discussed various issues of bilateral interest, including ways to increase bilateral trade and investment between Bangladesh and the United States, as well as energy and security cooperation, according to a ministry press release.

The minister reiterated the government's strong commitment to creating an investment-friendly environment in Bangladesh and ensuring overall security for foreign investors. 

He said Bangladesh currently offers ample opportunities for foreign direct investment (FDI), while the government has ensured a tariff-friendly environment for the convenience of investors.

Welcoming increased US investment in Bangladesh, the minister said the government has taken necessary legal and administrative measures to launch a one-stop service called "Invest Bangladesh" to bring the investment process under one umbrella and make operations easier. 

He said administrative and legal facilities in this regard have been streamlined over the past five to six months.

The government is also examining various proposals for setting up LNG terminals at strategically important locations in the country, which would help diversify the energy sector and enhance overall national security, he said.

The minister further said major opportunities are being created for investment in food grain and energy supply, ranging from government-to-government (G2G) arrangements to private-sector investment.

He said initiatives have also been taken to introduce digital security measures, the 'Safe City' project under smart policing, 'Integrated Border Management' for border security and e-visa facilities to strengthen national security and technological protection.

Atul Keshap said major US companies have been successfully operating in Bangladesh for several decades and are currently among the country's major investors.

Highlighting Bangladesh's immense potential, he said the country's economy is expected to reach $1 trillion by 2034. 

To achieve this target, he said, developing technical and managerial capacity, along with increasing GDP growth and tax productivity, is crucial.

He also discussed how US companies could provide comprehensive support and become partners of the Bangladesh government in the country's development process.

A 16-member delegation of business leaders from the US-Bangladesh Business Council, led by Atul Keshap, and senior officials of the home ministry attended the meeting.