• Saturday, Jul 04, 2020
  • Last Update : 03:06 am

UAE based investors to develop five Economic Zones in Bangladesh

  • Published at 11:15 pm September 15th, 2019
Prime Minister’s Private Industry and Investment Adviser Salman Fazlur Rahman addresses the 2nd edition of ‘Bangladesh Economic Forum’ meeting at the Conrad Dubai Hotel in Dubai, UAE on Sunday, September 15, 2019 Courtesy

As many as 25 fresh investment projects were tabled at Bangladesh Economic Forum

UAE-based investors have lined up a number of new projects, including five economic zones (EZs), for making investments in Bangladesh.

The information was reveled at the 2nd edition of ‘Bangladesh Economic Forum’ held yesterday at the Conrad Dubai Hotel in Dubai, UAE, said a press release.

Prime Minister’s Private Industry and Investment Adviser Salman Fazlur Rahman led a 20-member government delegation at the forum. The delegation comprised officials of Bangladesh Investment Development Authority (Bida), Bangladesh Economic Zones Authority (Beza) and Bangladesh Hi-Tech Park Authority (BHTPA).

At the forum, Salman Fazlur Rahman met a number of large UAE-based business groups, which expressed interest in developing Economic Zones and Hi-Tech Parks in Bangladesh.

As many as 25 fresh investment projects were tabled at Bangladesh Economic Forum where the investors discussed their projects with Salman F Rahman and other members of the Bangladesh official delegation.

These projects are in addition to the $10 billion (Dh36.7 billion) worth of investment planned by UAE-based investors in Bangladesh, according to data compiled by Bangladesh Economic Forum.

In different meetings of the forum, Salman F Rahman said he was pleased to see strong and genuine interest among the UAE-based investors – both UAE national and foreign business groups – in investing in Bangladesh.

“We have seen large investments coming from China, Japan and the United States. We believe, investors from the GCC countries, especially Saudi Arabia and the UAE, should take advantage of the lower cost of investment and operations and higher return on investment in Bangladesh,” he added.

He said investment from the GCC and the Arab World will help Bangladesh economy achieve a higher growth rate and Bangladesh is more than ready to welcome them.

“Bangladesh government and the private sector businesses are developing 100 economic zones and 28 hi-tech parks in Bangladesh. These are good opportunities for UAE investors who have championed the concept of free economic zones,” he added.

Bida, Beza and BHTPA – the three Investment Promotion Agencies (IPAs) of Bangladesh government – participated in such an international investment conference in the Gulf for the first time – undertaken by Bangladesh Economic Forum, a private sector initiative of the UAE-base Non-Resident Bangladeshi professionals and entrepreneurs.

More than 300 government officials, business leaders, investors and entrepreneurs participated in the day-long international investment conference, aimed at strengthening the flow of trade and investment between the UAE and Bangladesh.

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