• Thursday, Feb 27, 2020
  • Last Update : 01:32 pm

AmCham favours enhanced cooperation with US for more FDI

  • Published at 03:07 pm February 14th, 2020
WEB_AmCham
American Chamber of Commerce in Bangladesh (AmCham) President Syed Ershad Ahmed addresses its monthly luncheon meeting at a local hotel in the capital. Foreign Minster AK Abdul Momen was the chief guest at the program on February 13, 2020 Courtesy

AmCham president said the US was the largest single country investor in Bangladesh

American Chamber of Commerce in Bangladesh (AmCham) President Syed Ershad Ahmed on Thursday said the enhanced cooperation with the United States might attract more foreign direct investment (FDI) for the country. 

"More cooperation between the two friendly countries may attract more investment in developing infrastructure including ports, roads and transports," he said.

Ershad came up with the statement while addressing the AmCham monthly luncheon program at a local hotel in the capital. 

Foreign Minster AK Abdul Momen, US Embassy in Dhaka Counselor for Political and Economic Affairs Brent Christensen, AmCham President Syed Ershad Ahmed, Vice President Syed Mohammad Kamal were present in the program, among others.

AmCham president said the US was the largest single country investor in Bangladesh. 

Its current total investment in the country was more than $3.50 billion in different sectors that include banks, energy and power, agriculture, and information and communication, he informed.

The FDI in diversified business fields were playing a vital role to generate employments in the country, he added.

On exports, Ershad said the country should spend more on research and developments to increase exports to the US. Besides, diversified products should be manufactured for expanding exports for the country, he added.

He hoped the partnership between Bangladesh and the US for economic development would be in win-win situation.

The AmCham president said the country’s current economic growth was higher than many other Asian countries.

To cope up with the global competition and to face with newer challenges, it was imperative to attract more investments in diversified sectors, he added.

He said the world economy was gradually shifting to knowledge-based economy and the country was not an exception to this.

"So it is crucial to focus on high technology based industries and services instead of heavily dependent labor intensive economy right now," he added.