Trade investment in Bangladesh and Hong Kong is promising

Bangladesh and Hong Kong have a large bilateral trade deficit. Entrepreneurs in the private sector need to further expand their businesses to reduce this deficit. Trade and investment between the two countries are promising.

The speakers said these things at the seminar entitled ‘Expansion of Bangladesh’s a trade and investment through Hong Kong’ jointly organized by the Dhaka Chamber of Commerce and Industry (DCCI) and the Hong Kong Trade Development Council (HKTDC) at the Lakeshore Hotel in the capital on Tuesday (September 13). Minister of Commerce Tipu Munshi was present as the chief guest and Minister of Economic Relations (ERD) Sharifa Khan was a special guest.

Dhaka Chamber President Rizwan Rahman said in the seminar’s welcome address: “Hong Kong has already invested about $1.8 billion in Bangladesh. Most of them are in the textile and energy sector and bilateral trade has reached almost a billion dollars.’

He said that with the aim of attracting foreign investment, the government of Bangladesh has provided various tariff facilities, including the establishment of special economic zones, from which Hong Kong’s entrepreneurs can come forward to invest in this country at a higher rate. The DCCI president urged HKTDC to play an effective role in increasing Hong Kong’s investment in Bangladesh and expanding the business activities of its entrepreneurs in Hong Kong.

Speaking to the chief guest, Commerce Minister Tipu Munshi said: “There is no alternative to increasing foreign investment, especially in the sectors of infrastructure, finance, services, manufacturing, etc. to trigger the journey of Bangladesh’s LDC transition .”

He said: “We have young and skilled workers and the current government is also very positive when it comes to foreign investment so that foreign entrepreneurs can come forward with confidence to invest here.”

The minister said: ‘Bangladesh’s domestic market is quite large and strong, which will encourage investors to come forward to invest. In order to further expand both foreign investment and local investment in the country, the government is working to reform the relevant laws and formulate new policies if necessary.

Speaking to the special guest, ERD Secretary Sharifa Khan said: “Bangladesh and Hong Kong’s bilateral trade deficit is very high, and to reduce it, private sector entrepreneurs need to be more active in expanding business and investment activities.”

Rajesh Bhagat, South Asia Consultant of HKTDC, presented the keynote address on the occasion. In the original article, he said: “A simplified tax and customs structure, offices of about 70 global financial institutions and well-known brands, a large capital market, modern infrastructure, and the presence of port facilities make Hong Kong one of the centers of international trade.”

He said several investment institutions in Hong Kong have invested more than $800 million in 150 projects in Bangladesh. Hong Kong ranks 8th among foreign investment countries in Bangladesh. He pointed out that Bangladesh has great potential for foreign investment in clothing, shipbuilding, medicine, agriculture, leather and footwear, lighting technology, automobiles, electricity and electronics, logistics infrastructure, financial sector, health, etc.

Additional Secretary (Administration) of the Ministry of Industry Janendra Nath Sarkar and Additional Secretary (Planning and Development) of Bangladesh Economic Zone Authority (BEZA) Mohammad Irfan Sharif also participated in the discussion during the seminar.

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