UK investors lured to invest in Bangladesh

With the recent development in infrastructure, business environment, and growing people income, Bangladesh offers a diverse investment opportunity for UK investors and expatriates.

A high level of delegation from Bangladesh, including decision-makers, and the Manchester mayor made the remarks on Monday at the concluding event of a two-day Bangladesh Investment Summit organised by the Bangladesh Securities and Exchange Commission (BSEC) in the United Kingdom.

They also urged the Bangladeshi expatriates living in the UK to become the true ambassador to tell the true development story of the country to attract foreign direct investment.

“You are the real ambassador of Bangladesh and tell the true story of the country to the UK investors and make the investment with them jointly as well,” said Salman Fazlur Rahman, the private sector industry and investment adviser to the prime minister.

Highlighting the economic progress of Bangladesh, he said, “Per capita income increased by five times to over $2,500 in Bangladesh. Our economy reached a certain level and has to move up to the next level. We are working to create an enabling environment for businesses to do business free and fairly.”

“Look at Bangladesh’s trade potentials, and make the investment to gain the highest return from your investment,” he said while wooing the investors.

“There are lucrative business areas such as hospital, power, ICT, education, infrastructure, and many more in Bangladesh. Take the opportunity and grab your part from the opportunities,” he added.

Speaking at the summit, Land Minister Saifuzzaman Chowdhury called on the UK investors and expatriates to cash in the opportunities and various incentives offered by Bangladesh.

“FDI is very crucial for any country and Bangladesh is no exception to it,” he added.

BSEC Chairman Professor Shibli Rubayat-Ul-Islam said Bangladesh's economic growth is very encouraging. “It even posted the highest GDP growth in 2021 among the South Asian countries even amid the ongoing Covid-19 pandemic. Bangladesh has lots to offer to the global investors.”

“Once known for starvation, illiteracy, and disaster, Bangladesh now self-sufficient in food production and the literacy rate are very high. We have a healthy reserve of $48 billion and a vibrant economy with $2500 per capita income,” he said.

He said, “By next four years it will be a $500 billion economy and it is high time to invest in Bangladesh and tap the opportunity.”

Companies like Nokia set up manufacturing plants in Bangladesh while carmaker Mitsubishi and Proton are going to start production here, according to him.

Echoing him, Andrew Burnham, Mayor of Manchester, UK said, “Bangladesh GDP continues to grow and post robust growth. So, there is so much potential to invest there.”

He also urged the investors to explore the hidden opportunities in Bangladesh.

On November 4, the first programme, titled ‘Investment Summit 2021: Building Sustainable Growth Partnership,’ was held in London. Prime Minister Sheikh Hasina inaugurated the first programme.

BSEC had previously organised three more roadshows outside Bangladesh to attract FDI.

The first roadshow was held in Dubai in February followed by another in the US in July and August, and in Switzerland in September.