Bangladesh has urged Singaporean investors to relocate their manufacturing industries here.
Foreign Secretary Md Shahidul Haque came up with the call during his meeting with Permanent Secretary of Singapore Ministry of Foreign Affairs Albert Chua held Singapore on Wednesday.
“The foreign secretary has informed his counterpart that Bangladesh has fast growing domestic demand for consumer goods as every year around two million people are being added to the middle-income class, said a foreign ministry press release issued yesterday.
Haque suggested that Singaporean investors might take the potentials advantage and invest more in Bangladesh.
Welcoming the ongoing Singaporean investment ventures in the power generation sector, the foreign secretary invited further Singaporean investment in the areas of power distribution sector and the information technology.
The Singapore side informed that Singaporean investors were increasingly interested to invest in Bangladesh, particularly in the areas of power, township and industrial parks, food services and oil and gas exploration.
The foreign secretary highlighted that Bangladesh is developing 100 Economic Zones to provide suitable infrastructure for foreign investors.
Referring to the positive response received from other leading global and regional economies, he encouraged the Singapore side to take advantage of it.
Referring to the fast growing IT sector of Bangladesh and its potential, Shahidul Haque sought support from Singapore for capacity building in that area to turn the IT sector.
The Singapore side responded positively and suggested for increased interaction between IT authorities of the two countries.
In this connection, the Singapore side invited a delegation from Bangladesh to visit and meet the authorities concerned and private sector in Singapore. Both the sides agreed to work jointly to enhance e-governance and E-commerce in Bangladesh.
They also discussed ways and means to enhance cooperation in the area of air and cargo services.
The Foreign Secretary thanked the Singapore for hosting around 160,000 Bangladesh workers and hoped that Bangladesh workers would continue to contribute to the development of Singapore.
He also requested to keep open the opportunities for Bangladesh workers to continue to seek job opportunities in Singapore.
Responding positively, the Permanent Secretary praised the dedication and professionalism of Bangladesh workers and mentioned that they were being appointed to higher grades because of their qualities and qualifications.
Both the countries expressed satisfaction over the level of cooperation at the UN and other multilateral forums.
They also exchanged views on issues like Sustainable Development Goals (SDG), combating climate change and violent extremism.
Both the sides agreed to work jointly to develop eco-friendly sustainable cities for their citizens.
The Foreign Secretary briefed the Singapore side on Bangladesh’s contribution in formulating the SDGs, how Bangladesh has positioned itself at the forefront of the global fight against climate change under the leadership of the Prime Minister Sheikh Hasina. The issue of violent extremism was also deliberated.
The foreign secretary elaborated the zero tolerance policy of Bangladesh against violent extremism.