Foreign investors to get full security, profitability: PM [ Tritiyo Matra News ]

Foreign investors to get full security, profitability: PM

Local January 25, 2016

Prime minister Sheikh Hasina on Sunday assured the foreign investors of full security and profitability of their investment.
Her assurance came after she had inaugurated two-day Bangladesh Investment and Policy Summit-2016 in the capital Dhaka, reports state-run news agency Bangladesh Sangbad Sangstha
and private news service United News of Bangladesh.
Hasina urged the world’s big conglomerates to be part of country’s economic growth and said, ‘Today’s Bangladesh is a different one from a half-a-decade ago.’
‘Our duty is to create a business-friendly environment, which we’re doing. Massive reforms have been carried out in infrastructures and, rules and regulations. We’ve undertaken all types of initiatives to create an investment-friendly environment,’ she said.
‘It’s our highest level of commitment to facilitate your realistic proposals quickly and jointly and give full value of your money,’ the prime minister said.
The summit has been aimed at highlighting latest policy developments for private sector growth in Bangladesh to showcase private sector investment opportunities in key sectors and demonstrate opportunities for potential value addition in those sectors for a sustained economic growth.
Board of Investment, Business Initiative Leading Development and Prime Minister’s Office are jointly organising the Bangladesh Investment and Policy Summit at Radisson Blu Water Garden Hotel.
Finance minister AMA Muhith, industries minister and also BoI vice-chairman Amir Hossain Amu, commerce minister Tofail Ahmed and chief minister of Indian state of Meghalaya Mukul Sangma spoke on the occasion.
Vice-chairman of Reliance Industries Limited, India Samir K Gupta, South Asia Region CEO of Axiata Limited Hans Wijayasuriya, chairman of Adani Group Gautam Adani, director of the International Finance Corporation of the World Bank Group Sujoy Bose and FBCCI president Abdul Matlub Ahmed delivered speech in the inaugural session of the summit. PM’s principal secretary Md Abul Kalam Azad made opening remarks while BoI executive chairman SA Samad gave vote of thanks.
Local and foreign investors, both new and potential investors, experts of foreign investment and industrial and international trade and policymakers, business entrepreneurs, government officials and policymakers are taking part in the summit.
Congratulating the organisers of the summit the prime minister said overcoming all odds, Bangladesh economy had been progressing steadily for the last seven years with remarkable growth and transformations, despite volatilities in many external markets and very sluggish growth in the developed countries.
Pointing out her government’s goal to make Bangladesh a middle income country by 2021, Hasina said, ‘We expect your support to our journey as mutual cooperation is required to free the world hunger and poverty free.’
She said public private partnership in infrastructure investment offered a new window of opportunity for investors while the existing export processing zones, and special economic zones were being expanded and developed for competitive manufacturing for local and global markets.
Hasina said her government is going to establish Bangladesh Development Authority for the simplification of investment procedure.
‘We’re planning to establish 100 economic zones across the country. More than 30 sites have already been selected for special economic zones and foundations stones of 10 zones will be laid next month.
‘Power, gas, road, bridge, healthcare, pharmaceuticals, sea port, auto mobiles, ceramics, textiles, leather, ICT and various services are main sectors for foreign investors in Bangladesh.
‘We achieved 6.51 per cent GDP growth in the last financial year. During the previous five years, our average GDP growth was 6.2 per cent. We’ve been working to achieve 7 per cent GDP this year. The indication we after passing half of the financial year, we’re hopeful of achieving 7 per cent growth,’ the prime minister said.
She noted that the ability to attract private investment, both foreign and local, has increased. ‘We’ve attained the ability to implement big projects. The initiative to implement the Padma Bridge project with our own fund is a testimony of our ability.’
The prime minister said her government would not do business, rather the government would create a business-friendly environment for businessmen.
Highlighting Bangladesh’s efforts to expand regional, sub-regional and international cooperation, she said a new era of regional cooperation in South Asia has ushered a strong economic ties with neighbours.
‘South Asia is poised to be a large centre of growth in the near future and then it would no longer remain ‘a poor men’s club.’
Besides, trade and investment partnership with the countries across Asia and Pacific, Middle-east and Central Asia, EU, Americas and Africa are going to next levels of engagement in expanding economic, social and cultural exchanges among our businesses and citizens, she added.
Hasina said her government and colleagues had put in utmost efforts to provide and develop policy and regulatory framework conducive to the business community.