Bangladesh a compelling case for UK investors

The UK is already the second-largest investor in Bangladesh, but there is vast potential to do more, Mohammad Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority (BIDA), said recently.

"Bangladesh's liberalised investment policies and concessions encourage foreign investment. Our government is keen on facilitating more investments from the UK, which is a strong partner in our progress," Sirazul added. He was addressing the "Showcase Bangladesh 2021: Bangladesh-UK Investment Summit," recently where public and private sector leaders of Bangladesh and the UK came together to discuss the many win-win propositions that can take UK-Bangladesh trade and investment relations to new heights. The event was jointly organised by Standard Chartered and BIDA and took place in London on November 4.

Salman F Rahman, Private Sector Industry and Investment adviser to the prime minister, State Minister for ICT Zunaid Ahmed Palak; Md Sirazul Islam, executive chairman of Bangladesh Investment Development Authority; Robert Chatterton Dixon, British High Commissioner to Bangladesh; Saida Muna Tasneem, Bangladesh High Commissioner to the UK, Ireland and Liberia and Md Jashim Uddin, president of Federation of Bangladesh Chambers of Commerce & Industry attended the event.

The speakers made the case for greater engagement for UK investors in Bangladesh, one of the world's fastest-growing economies, hoping that foreign direct investment and international technical collaboration will greatly accelerate the attainment of the country's sustainable development plans. Salman F Rahman said, "The sustained, broad-based growth Bangladesh achieved over the last decade did not happen by accident, it was achieved through insightful planning and visionary leadership of our honourable prime minister." "Bangladesh's growth in nominal GDP in the first 36 years since independence has trebled in a third of the time, over the last 12 years," Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said. "Despite the challenges posed by the pandemic, the country achieved one of the highest economic growth rates in the world, thanks to judicious policy intervention by the government and the resiliency of the people," he added. "The country is expected to maintain a growth trajectory that will enable GDP to exceed economies like Malaysia, Hong Kong, Singapore, Denmark and others. This is the right time to invest in Bangladesh, which I believe is the 'Best Kept Secret of Asia'."