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PM’s adviser Salman F. Rahman urges OIC to increase investment in Bangladesh

PM’s adviser Salman F. Rahman urges OIC to increase investment in Bangladesh

Bangladesh Prime Minister’s adviser on private industries and investment, Salman F. Rahman, has urged all member nations of the Organisation of Islamic Cooperation (OIC) to increase investment in Bangladesh. He said the investment environment in Bangladesh is much better than many other countries in the region.

Rahman spoke in a discussion with the ambassadors and heads of missions of OIC members at the Prime Minister’s Office (PMO). During the meet, the PM’s adviser presented a PowerPoint presentation to the OIC members, highlighting the ten reasons for investing in Bangladesh. Analyzing the recent rapid progress made by Bangladesh on the economic and social index.

The PM’s adviser emphasized upon the potential for investment in the country. He also discussed the initiatives taken by the government to foster competitiveness where local and foreign investments were provided equal treatment.

Salman F. Rahman stated that Bilateral Investment Treaties (BITs) had already been signed with 32 countries. He said that the government had created an enabling environment for the private sector to drive economic growth and had a zero tolerance policy towards terrorism, drugs and corruption.

Bangladesh is currently receiving GSP facilities from 38 countries, with 28 countries being members of the European Union. The other ten include Australia, Belarus, Canada, Liechtenstein, Japan, New Zealand, Norway, Russian Federation, Switzerland and Turkey, said Rahman.

The PM’s adviser also stated that several countries including the USA, UK, France, China, India and the UAE had already expressed their desire to invest in Bangladesh. Some more are expected to join soon.

The domestic agro-processing sector in of Bangladesh is currently valued at USD 2.2 billion, where the average growth rate of the food processing industry was about 8 per cent and the average export growth rate in last 4 years was 37 per cent, he said while giving the presentation.

The vision of the government was to achieve socio-economic development by developing the country’s investment-trade sector, he added. He said that growth in investment has been one of the special initiatives among ten taken by the Prime Minister Sheikh Hasina. For that, the government was always ready to provide all assistance to domestic and direct foreign investment.

During the discussion, Kazi Md. Aminul Islam, executive director of the Bangladesh Investment Development Authority (BIDA), said that Bangladesh currently had a very congenial situation for investment. The country’s GDP) had increased recently.

The PM’s adviser on International Affairs, Dr. Gowher Rizvi, organized the meeting. Among the dignitaries present were coordinator (SDG affairs) Mohammad Abul Kalam Azad, high officials of the Bangladesh Bank, National Board of Revenue and the PMO.

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