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South Korea keen to invest in various sectors in Bangladesh

| Updated: February 23, 2022 17:50:23

Flags of Bangladesh and South Korea are seen cross-pinned in this photo symbolising friendship between the two nations Flags of Bangladesh and South Korea are seen cross-pinned in this photo symbolising friendship between the two nations

Ambassador of the Republic of Korea Lee Hang-Keun has expressed his country's interests in investing in other industrial sectors here apart from the readymade garment (RMG) for mutual benefits of both the countries.

"Now South Korea is keen to develop Bangladesh-Korea's success in other sectors as well apart from the RMG," he said, while making a courtesy call on President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin at FBCCI Icon in the capital on Sunday.

The envoy said that Seoul wanted to take the bilateral relations to a new level in 2022, marking the 50th anniversary of Bangladesh-South Korea diplomatic relations.

"Therefore, efforts are being made to increase Korean investment in other sectors besides the readymade garment sector," he said.

FBCCI President Md Jashim Uddin called upon South Korea to invest more in the country's infrastructure sector and man-made fibre sector.

He said that Bangladesh was enjoying a golden time for investment due to its huge domestic market, growing exports, easy availability of power and infrastructure, government policy support and a large working population.

"The countries that will take advantage of the opportunities for investment in Bangladesh will be immensely benefited," he said.

Mr Jashim Uddin said that the FBCCI would discuss with the Bangladesh Investment Development Authority (BIDA) on organising roadshows or investment summits in South Korea to highlight the investment opportunities in Bangladesh.

The meeting also decided to hold a business dialogue this year in a joint venture between Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) and FBCCI.

South Korea is the 5th largest country in terms of foreign direct investment in Bangladesh, said the South Korean ambassador.

It is to be mentioned that Bangladesh started its journey of 100 per cent export oriented readymade garment with the help of South Korea.

Desh Garments was established in a joint venture with the Korean Daewoo Corporation.

Besides, 130 workers and staff were sent to South Korea for six months of training.

Many of those trained now own garment factories. Many Korean entrepreneurs have also invested in this sector in Bangladesh.

FBCCI Senior Vice-President Mostofa Azad Chowdhury Babu; vice-presidents MA Momen, Md Amin Helaly and Md Habib Ullah Dawn; directors Mohammad Anwar Sadat Sarkar, Md Rezaul Kariem Rejnu, Dr Nadia Binte Amin, Md Nizam Uddin and Naz Farhana Ahmed; President of KBCCI and Chairman and Managing Director (MD) of Meghna Group of Industries Mostafa Kamal; Director General of Korea Trade-Investment Promotional Agency Kim Dong Hyon; First Secretary of the Embassy of the Republic of Korea Lee Jungyoul; and FBCCI Secretary General Mohammad Mahfuzul Hoque were present.

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