Bangladesh: a compelling case for UK investors

Public and private sector leaders in Bangladesh and the UK came together at "Showcase Bangladesh 2021: Bangladesh-UK Investment Summit", to discuss the many win-win propositions that can take the UK-Bangladesh trade and investment relations to new heights.

The event was jointly organised by Standard Chartered and the Bangladesh Investment Development Authority (Bida) and took place in London on November 4, 2021. Speakers touched upon the compelling growth story of Bangladesh, with solid fundamentals and growth drivers leading to optimism about sustained growth.

Speaking at the event, Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said Bangladesh's achievements in terms of growth in nominal GDP in the first 36 years since independence was trebled in a third of the time, over the last 12 years.

"Despite the challenges posed by 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." "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 absolutely the right time to invest in Bangladesh, which I believe is the "Best Kept Secret of Asia."

Salman Fazlur Rahman, private sector and investment adviser to the prime minister, 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 the prime minister.

"In order to beat the 'middle-income trap' and become a high-income nation by 2041, we need to continue to develop our domestic markets and diversify our export baskets – both of which would be catalysed by FDI and domestic investment."

Zunaid Ahmed Palak, state minister for ICT, said 12 years after the declaration of Digital Bangladesh, Bangladesh had achieved major milestones as a nation and had graduated to middle-income status.

"ICT has played a role in this incredible journey and will continue to be a key enabler of our sustained progress."

Mohammad Sirazul Islam, executive chairman of the Bida, said, "The UK is already the second-largest investor in Bangladesh, but there is vast potential to do more."

"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."

Robert Chatterton Dixon, British High Commissioner to Bangladesh; Saida Muna Tasneem, Bangladesh's high commissioner to the UK; and Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce & Industry, also attended the event.