Govt targets additional $5b in US investment over five years

The government aims to attract an additional $5 billion in US investment to Bangladesh over the next five years, Commerce Minister Khandakar Abdul Muktadir said.

He said the government and the American Chamber of Commerce in Bangladesh (AmCham) would work together to achieve the target, with the government ready to cooperate with US companies to boost investment, create jobs, facilitate technology transfer and expand economic opportunities.

The minister made the remarks as the chief guest at a programme marking AmCham Bangladesh's 30th anniversary at the Radisson Blu Water Garden in Dhaka today (12 September).

US Ambassador to Bangladesh Brent T Christensen, AmCham President Syed Mohammad Kamal, Vice President Ala Uddin Azad, former presidents and current and former executive committee members, government officials, business leaders and media representatives attended the event.

Bilateral trade between Bangladesh and the US currently exceeds $13 billion, Muktadir said, adding that the relationship extends well beyond trade.

AmCham member companies have invested more than $5 billion in Bangladesh and contribute more than 20% to the country's national revenue, according to the minister.

"This investment reflects the confidence of US businesses in Bangladesh's economy," he said.

Muktadir said AmCham leaders recently met with the prime minister and expressed interest in bringing an additional $5 billion in US investment to Bangladesh over the next five years.

"The government will provide the necessary support to implement this initiative," he said.

He assured US businesses that the government would respond to genuine concerns raised by investors.

"When a genuine business problem is brought to our attention, my ministry and the government will make every effort to find a practical solution," he said.

Investment opportunities

The government is working to simplify business processes, expand digitalisation, improve trade facilitation and create a more investment-friendly environment, the minister said.

He expressed hope that more US companies would invest in Bangladesh, bringing modern technologies and global expertise, while access for Bangladeshi goods and services to the US market would expand further.

Marking AmCham's 30th anniversary as an opportunity to create new possibilities, Muktadir said, "We all have to work together to build more trade, more investment, greater innovation, new employment opportunities and a stronger and more enduring economic partnership between Bangladesh and the United States."