‘Bangladesh can become a greater investment hub’

Bangladesh has great potential to draw more foreign direct investments with the country implementing several initiatives, including the establishment of special economic zones to support investors in the country, speakers said.

Once all of these initiatives are implemented, the country could become a hub for both local and foreign investors, they said.

They made these remarks on Monday during the webinar, 'Enabling Investment Climate to Realise Great Potential'.

Citibank NA, Bangladesh, hosted the programme in partnership with the Chittagong Chamber of Commerce and Industry (CCCI), and the Bangladesh Center of Excellence (BCE), said a media statement.

The discussion focused on diversification of investment and the readiness of economic zones to facilitate such diversification of investments and potential sectors for investment.

Paban Chowdhury, executive chairman of BEZA, joined the session as chief guest and panelist.

The session was chaired by Mahbubul Alam, president of CCCI and moderated by N Rajashekaran (Shekar), Citi country officer and managing director of Citibank NA Bangladesh.

Ahsan Khan Chowdhury, chairman and chief executive officer of Pran-RFL Group, Aameir Alihussain, managing director of BSRM Group, and Miran Ali, managing director of Bitopi Group, were among the distinguished panelists at the virtual discussion.

Speaking at the webinar, Paban Chowdhury said, "special economic zones are changing the industrial landscape of the country and to raise the contribution of SMEs to the GDP, we are making a separate SME zone at Bangabandhu Shilpanagar in Mirsarai."

Mahbubul Alam, president of CCCI praised the efforts of the government in developing economic zones across the country. He especially emphasized the importance of guiding investors in choosing the appropriate sector for investment so that investment doesn't get concentrated in a limited number of sectors.

"Investors need to be guided in finding the right sectors which should be part of a comprehensive investment diversification strategy," he added.

Ahsan Khan Chowdhury, Chairman of Pran-RFL Group called upon investors and businesses to utilise the tremendous potential of business growth in Bangladesh backed by government facilities.

Aameir Alihussain, managing director of the BSRM Group of Companies highlighted the importance of capacity and skill development, and access to finance for SMEs, as the stimulating factor in the next level of growth in Bangladesh.

He said, "Bangladesh has great potential to attract greater foreign investment to bear positive results for the country's economy."

N Rajashekaran (Shekar), Citi country officer and managing director of Citibank NA, Bangladesh, praised the uniqueness of the Bangladeshi market and the inclusive culture of the Bangladeshi people. He discussed further, the potential of SMEs and diversified investment opportunities.

"Bangladesh is a nation which has tremendously grown even during the global pandemic, a positive reflection of the tremendous work ethic of the people, and a growing consumer market with countless possibilities," he continued.