'Take advantage of Bangladesh's conducive investment regime'

Prime Minister Sheikh Hasina today called upon the US businesses to invest more in Bangladesh for mutual benefits.

She was speaking at a meeting with the visiting executive business delegation of US-Bangladesh Business Council at the Gono Bhaban.

She mentioned that US businesspeople could invest in power and energy, ICT, infrastructure, light engineering and electronics, automobile, agro-processing, pharmaceuticals and ceramics sectors, among others.

She said that Bangladesh has the most open foreign direct investment policies in South Asia.

The country offers one-stop service, an easy exit policy, a 15-year tax exemption, a VAT exemption for imported machinery and streamlined services. It also allows 100 percent foreign ownership of businesses.

"To facilitate industrialisation, we are establishing 100 special economic zones, 109 hi-tech and software technology parks, and IT training and incubation centres across the country," the PM said.

Hasina said that the Padma Bridge, which was opened to traffic last year, established a direct road and rail link between the capital and 21 southern districts.

"We are soon going to open some other mega projects like Matarbari Deep Sea Port, Dhaka elevated expressway, part of the Dhaka metro rail, and Bangabandhu Tunnel in Chattogram."

These infrastructures will further amplify both external connectivity and internal trade, thus acting as catalysts for growth, she added.

The premier said Bangladesh's strength lies in its people. "We have about 55 million youths with the requisite skills."

Hasina said Bangladesh-USA friendship and partnership proved to be mutually beneficial for both the countries.

She said the US has been one of Bangladesh's trustworthy development partners since its independence.

"Being the single largest source of FDI and export market for Bangladesh, I wish the USA would continue to support its growth trajectory."

She said the government is pursuing a long-term growth strategy for the citizens.

"We are now more united than ever before. We have pledged to realise the vision of Smart Bangladesh by 2041. With such a strong prospect, I would now assure you of the best possible policy framework to ease our business and investment climate and make it friendlier to you."

Board Chair of the US-Bangladesh Business Council Steven Kobos, also the leader of the mission, and President of the US-Bangladesh Business Council Ambassador Atul Keshap also spoke.