Bangladesh a suitable place for UK investors: experts

Publish: 8:07 PM, November 10, 2021 | Update: 8:07 PM, November 10, 2021

DHAKA,  – Experts at an investment summit recently observed that Bangladesh is a suitable place for investors of the United Kingdom (UK). They made the observation at the “Showcase Bangladesh 2021: Bangladesh-UK Investment Summit” in London on November 4, said a press release today. Public and private sector leaders of Bangladesh and UK came together at the summit to discuss the many win-win propositions that can take UK- Bangladesh trade and investment relations to new heights.

The event was jointly organised by Standard Chartered and Bangladesh Investment Development Authority (BIDA). Salman Fazlur Rahman, Private Sector Industry and Investment Adviser to the Prime Minister, Zunaid Ahmed Palak, State Minister for ICT, Md Sirazul Islam, Executive Chairman of BIDA, Robert Chatterton Dixon, British High Commissioner to Bangladesh, Saida Muna Tasneem, Bangladesh High Commissioner to the UK, Ireland and Liberia and Md Jashim Uddin, President, Federation of Bangladesh Chambers of Commerce and Industry attended the event. Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh and Torry Berntsen, CEO, Europe and Americas and CEO, UK Standard Chartered, among others, also spoke on the occasion.

In his speech, Salman Fazlur Rahman said, “The sustained, broad-based growth Bangladesh achieved over the last decade did not happen by accident, it was achieved through insightful planning and visionary leadership of our Prime Minister- Thank you Prime Minister. Now, in order to beat the ‘middle- income trap’ and become a high-income nation by 2041, we need to continue to develop our domestic markets and diversify our export baskets – both of which would be catalysed by Foreign Direct Investment (FDI) and domestic Investment.”

Zunaid Ahmed Palak said “12 years after the declaration of Digital Bangladesh by Prime Minister, we have achieved major milestones as a nation and have graduated to middle income status. ICT has played a role in this incredible journey and will continue to be a key enabler of our sustained progress.” Mohammad Sirazul Islam said, “The UK is already the second-largest investor in Bangladesh, but there is vast potential to do more. Bangladesh’s liberalized investment policies and concessions encourage foreign investment.

Our government is keen on facilitating more investments from the UK, which is a strong partner in our progress.” Naser Ezaz Bijoy said, “2021 is a very special year for Bangladesh, as we celebrate 50 years of our achievements as a nation. Bangladesh’s achievements in terms of growth in nominal GDP in the first 36 years since independence was trebled in a third of the time, over the last 12 years. Despite the challenges posed by pandemic, the country achieved one of the highest economic growth rates in the world, thanks to judicious policy intervention by the Government and the resiliency of the people. The country is expected maintain a growth trajectory that will enable GDP to exceed economies like Malaysia, Hong Kong, Singapore, Denmark and others. This is absolutely the right time to invest in Bangladesh which I believe is the “Best Kept Secret of Asia.”