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DCCI urges UK businessmen to invest in Bangladesh

FE Report | Published: June 18, 2019 10:39:25 | Updated: June 20, 2019 10:36:03


Dhaka Chamber of Commerce and Industry (DCCI) urged on Monday the visiting British entrepreneurs to invest in Bangladesh for mutual benefits of the two countries.

They made the request at a networking business meeting with the UK Bangladesh Catalysts of Commerce and Industry (UKBCCI) at the DCCI in the city.

DCCI director Akber Hakim made a power-point presentation on the bilateral trade and investment scenario.

Welcoming the British businessmen, DCCI president Osama Taseer urged them to invest in the country's prospective sectors like readymade garment, ship building, pharmaceuticals, agriculture, leather goods, information and communication technology (ICT) and financial market.

He requested the visiting businessmen, including non-resident Bangladeshis, to invest in the 100 economic zones the government is establishing across the country. The government has also established one-stop service facility and introduced various incentives for the foreign investors, he added.

UKBCCI chairman Iqbal Ahmed OBE DBA pointed out that the bilateral trade is in favour of Bangladesh and said Bangladeshi entrepreneurs are very energetic and hard working.

He also urged the Bangladeshi entrepreneurs to invest in the UK.

Mr. Iqbal said Bangladesh can earn a huge foreign currency by exporting different agricultural products to the United Kingdom (UK) as there are enormous potentials of agro products, spices and fruits in the UK market.

He said transfer of knowledge by establishing joint ventures in Bangladesh will be helpful for Bangladesh.

UKBCCI president Bajloor Rashid MBE said that there are 12,000 Bangladeshi restaurants in the UK and the annual turnover from this sector would be around 5.0 billion pound.

He invited businessmen from Bangladesh to visit UK and share the investment strength of Bangladesh with the British entrepreneurs.

"We need to streamline few specific potential sectors where entrepreneurs of both the countries could work jointly and expedite it," he said, adding that Bangladeshi entrepreneurs could also grab the UK spices market.

He suggested that a memorandum of understanding between the DCCI and UKBCCI could be signed.

The bilateral trade between Bangladesh and UK stood at US$ 4,377.52 million in 2018, of which Bangladesh exported goods to the UK worth about $ 4.0 billion and imported goods worth $ 388 million.

The foreign direct investment (FDI) from the UK to Bangladesh in 2018 was about $ 371 billion, which is 3rd largest in Bangladesh.

Around 200 British companies have their businesses in Bangladesh operating in banking, energy, infrastructure, consultancy and education sector.

Senior vice-president of DCCI Waqar Ahmad Choudhury, its directors Andaleeb Hasan, KMN Manjurul Haque, engineer Md. Al Amin, SM Zillur Rahman, Enamul Haque Patwary, Kh. Rashedul Ahsan and Rashedul Karim Munna, among others, were present.

talhabinhabib@yahoo.com

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