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Singapore businesses keen for more investment in BD

FE Online Desk | Published: August 25, 2019 19:06:52 | Updated: August 26, 2019 17:15:51


Singapore entrepreneurs expressed their interest to invest in different sectors in Bangladesh.

Mr. Soo Wei-Chieh, Executive Director of Singapore Business Federation (SBF) expressed this interest at a business networking program with the business leaders of FBCCI.

It may be mentioned that an 11 member business delegation of SBF led by Mr. Soo Wei-Chieh is now visiting Bangladesh. The delegation comprising of environmental solution, financial service and consumer goods will visit different Bangladesh Companies and will decide about investing here. Those were discussed at the Singapore-Bangladesh Business Networking held today at a city hotel.

   

FBCCI President Sheikh F Fahim, at the program described the recent socio-economic development activities of Bangladesh. The FBCCI Chief mentioned the investment offers provided by the Bangladesh Government. Among the South Asian Countries, Bangladesh has the most liberal and flexible investment policy, he added. The FBCCI Chief thanked the Singaporean companies for their contribution to Bangladesh’s economy. Sheikh Fahim urged them to be corporate member of FBCCI. The FBCCI President mentioned that Singapore is among the top most foreign investors in Bangladesh along with China, Japan and Netherlands. Sheikh F Fahim also mentioned that as Bangladesh provides low cost labor facilities in the manufacturing sector, and it has the global market access, Singapore companies can come with more investment plans here.

Leading Entrepreneurs of ICT, Environment and Urban Solutions, Financial Services etc of Singapore attended the program.

High Government Officials of Bangladesh were present. Vice Presidents, Directors of FBCCI and the leading businesspersons of the country joined the program.

It may be mentioned that, Bangladesh exported total amount of 149.34 million US $ to Singapore in 2018-19 and imported the amount of 2286 million US $. The principal export products of Bangladesh to Singapore are knitwear, woven garments, agricultural products, engineering products and home textile etc. The import items from Singapore are mineral products, machinery and mechanical appliances; electrical equipment and parts and chemical products etc.

 -rmc//

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