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Bangladesh to seek Vietnam investment in economic zones

Published: March 04, 2018 21:55:33 | Updated: March 05, 2018 11:32:01


President Abdul Hamid receives Vietnamese President Tran Dai Quang at Hazrat Shahjalal Airport in Dhaka on Sunday. -Focus Bangla Photo

Bangladesh will focus on attracting investments in its special economic zones during talks with Vietnam's businesspeople accompanying visiting Vietnamese President Tran Dai Quang.

Vietnamese President arrived in Dhaka on a three-day state visit on Sunday.

Bangladesh Ambassador to Vietnam Samina Naz said Some Vietnamese companies are in collaboration with Bangladeshi partners to transfer technology on aquatic plant and fish farming.

One Vietnamese company, namely FPT Information System, has been implementing income tax and VAT online systems to help the Bangladesh government improve the management process of taxation, she said.

Vietnam businesspeople can consider investing in 100 special economic zones and to avail the incentives being offered.

The envoy said Bangladesh may encourage Vietnam to invest into some areas where the country has advantages like agriculture and aquaculture, industry, tourism, telecommunication, construction and food processing.

She said both countries have the potential for trade figure to rise to $1 billion from existing $900 million.

"The two sides need to implement the Investment Promotion and Protection Agreement effectively to promote bilateral investment," Samina Naz said.

According to BSS, the trade gap between two countries is still big and the trade balance now is in favour of Vietnam.

Bangladesh's export value to Vietnam is almost $50 million and pharmaceuticals are on top of the export list, with an export value of over $15 million.

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