FBCCI seeks more US investment in Bangladesh

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin has invited more US investment as a key development partner sharing a number of multilateral interests.

"The USA has always been a great friend of Bangladesh and the two countries share close partnership in the areas like economy, sustainable growth, climate change, health and education etc," FBCCI President made the remark while addressing a virtual business council meeting titled 'Bangladesh Forward: The New Frontier for Growth on 21 September.

Prime Minister Sheikh Hasina delivered the keynote remark at the program, organised by the US Chamber of Commerce with the US-Bangladesh business council leaders as a sideline program of the 76th UN General Assembly in honour of the prime minister of Bangladesh.

Calling for a diversified portfolio in trade relations with the country, Md Jashim Uddin pointed out manufactured products, logistics and technology-based products and services as potential areas for future investment.

He said, "Americans have invested in Gas & Petroleum, Banking & Insurance, Power, Textiles, Trading and IT sectors in Bangladesh. However, the potential for a substantial high-tech and diversified investment portfolio is yet to materialize. In addition, the blue energy economy remains largely untapped which could be of interest to the USA."

Mentioning Bangladesh as the fastest growing economy of the world, he said the country has strongly emphasized infrastructure development, tourism, power and energy access, investment and business environment, ease of regulatory procedures, connectivity and much more. The establishment of 100 Special Economic Zones is under construction in different district areas to ensure the available planned land and utilization of local recourses.

'Our manufacturers are adopting greener technologies and modern productions methods aligned with 4IR to modernize the entire system. Among World's top 10 green RMG factories, the top 7 belong to Bangladesh', he added.

He further added that the bilateral ties between the two countries reflect the potential opportunities as cooperation in the areas of development and innovation, energy sector, MSMEs, joint collaboration for technical skills / TVET program and knowledge transfer to the transition of 4th IR has increased.

"FBCCI as the apex trade body of the country is ready to launch a platform for networking and business contacts and arrange vis-à-vis meetings and trade fairs between entrepreneurs of both the countries", he noted.

Sajeeb Wazed Joy, Adviser to the Hon'ble Prime Minister of Bangladesh on Information and Communication Technology Affairs, M. Shahidul Islam, Bangladesh Ambassador to the United States, Jay R Pryor, Vice President, Business Development & Board Chair, US-Bangladesh Business Council, NishaBiswal, President, US-Bangladesh Business Council & Senior Vice President - South Asia, US Chamber of Commerce, Faruque Hassan, President of BGMEA, also spoke at the event.

Senior Vice President Mostofa Azad Chowdhury Babu, FBCCI Vice President Salahuddin Alamgir, Md Shafiul Islam (Mohiuddin) MP, former President of FBCCI,  Dhaka Chamber President Rizwan Rahman,  MCCI  Dhaka President Nihad Kabir joined the meeting among others.