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Bernicat urges Bangladeshi entrepreneurs to invest in US

  • Published at 12:51 am November 29th, 2016
Bernicat urges Bangladeshi entrepreneurs to invest in US
She made the call at a discussion with the Diplomatic Correspondents Association of Bangladesh (DCAB) held in the city yesterday. “Huge reserve enables Bangladesh to invest abroad,” said Bernicat. It is noted here that foreign exchange reserve reached at US$32 billion as of latest data of Bangladesh Bank, the record high in the country’s history. Meanwhile, Bangladesh government is planning to borrow from reserve to invest in various development projects. Similarly, Bangladesh Bank is working on to relax foreign investment rule because of having enough foreign exchange. Referring to some investment advantages in the USA, Bernicat insisted that the Bangladeshi investors make their investments in the largest US market. There are a number of good reasons for Bangladeshi entrepreneurs to invest in the US and those are access to Research and Development (R&D) facilities, knowledge and technological advantages, she explained. She said: “The most important advantage is that Bangladesh will have the equal access to all the markets where the US has the market access. If a Bangladeshi company produces any product in the US, it will be able to sell its products in all the market with which US has preferential trade agreement.” The profit of the companies can be reinvested in the US or can be repatriated as we have no restriction to bring money back in the home country, she added. Welcoming the Bangladeshi companies willing to invest in the US, Bernicat said: “As Bangladesh advances to a full middle income country, Uber has come to Bangladesh. Like Uber, many other American companies are taking business opportunities in Bangladesh. Chevron activities are long been here. Uber will work for traffic congestion here.” Uber launched operations in Bangladesh on November 22 amid much enthusiasm. Amid debates on the legality of Uber’s operations, Bangladesh Road Transport Authority issued a public notice in newspapers warning Uber drivers and clients against using the service, citing legal issues.