15 days ago

Investors to stay in tie-up to tap BD's business prospects

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Investors have pledged to maintain prolonged tie-up with Bangladesh to bank on its latest development of infrastructures under megaprojects, said the country's apex trade chamber about a business summit's outcome.

The three-day Dhaka meet that drew around 2,000 local and foreign stakeholders, dignitaries, policymakers, investors and entrepreneurs concluded Monday on such positive note on business and investment prospects.

Speaking at a press conference on the summit's outcome, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Md Jashim Uddin billed it a 'signature event' for business branding and bonding.

The FBCCI was the organiser of the event. Responding to a query, the FBCCI president declined to disclose the total expenditure for staging the mega-event, meant for investment and marketing promotion.

However, competent sources said around Tk 400 million was spent on the event. A major head of expenditure was hiring the CNN for ensuring global coverage of the event.

A total of 896 participants registered for joining the programme with payment of fees amounting from $200 to $500 per person.

A total of 56 delegates from Saudi Arabia joined the summit and signed three Memorandums of Understanding (MoUs) and one agreement on port, sugar mill, national grid and fertilizers.

Top two Saudi companies may also conduct feasibility study on working at the proposed Matarbari petrochemical plant, he said.

The Saudi delegates also pledged to form a business council with Bangladesh being impressed on the outcome of the summit, the FBCCI chief told the press.

"Our main objective was to disclose the country's capabilities with new infrastructures to the rest of the world," he said.

The federative body of businesses will prepare recommendations that came out from the summit and place with the government for action.

Talking to the FE, Chairman of Policy Exchange Bangladesh Dr Masrur Reaz, who was technical adviser of the summit, said the gathering facilitated government-to-business and business-to-business communications.

"It will initiate process for investment dialogue for securing FDI for export diversification and import-substitution industry," he said.

A total of 10 foreign business delegations from France, the UK, China, Saudi Arabia, Nigeria, Hong Kong, Japan and Turkey joined the summit, he said.

The Deputy Chief of the World Trade Organization, above 230 foreign investors, six foreign ministers, chief executive officers and top bosses of 11 global giants also attended the summit, he added.

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