US investors committed to another $5b investment in Bangladesh: commerce minister

The government will facilitate US investors as they have committed to investing another $5 billion in Bangladesh over the next five years, Commerce Minister Khandakar Abdul Muktadir said yesterday.

Speaking at the 30th anniversary celebration of the American Chamber of Commerce in Bangladesh (AmCham) at the Radisson Blu Water Garden Hotel, Dhaka, he said AmCham member companies have already invested more than $5 billion in the country, contributing over 20 percent of national tax revenue.

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These figures demonstrate not only the scale of US commercial engagement, but also the confidence US businesses place in the national economy, Muktadir said.

"I believe the next chapter of Bangladesh-US economic relations can be even more ambitious. We want to see more American companies investing in Bangladesh, bringing more cutting-edge technologies and global expertise into our economy," he added.

Reflecting on recent bilateral milestones, US Ambassador to Bangladesh Brent T Christensen highlighted the Agreement on Reciprocal Trade (ART) reached earlier this year between the two nations.

"We should view this not simply as a trade document, but as a framework for the next stage of our economic relationship," he said.

Once implemented, the ART will lower tariffs, expand market access, strengthen intellectual property protection, promote anti-corruption measures, and advance labour and environmental standards, he added.

The ambassador also said that the US aims to be Bangladesh's leading partner in energy investment rather than just a supplier, noting that the US-Bangladesh Energy Memorandum of Understanding signed in May ensures American companies can compete fairly in government procurements.

AmCham President Syed Mohammad Kamal urged the government to provide a clear energy roadmap so investors can plan with predictability.