FBCCI president calls on UAE businesses to choose Bangladesh as investment destination

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin, who is now in UAE, has called the entrepreneurs of UAE to choose Bangladesh as their investment destination.

"We have a very favorable investment policy and incentives with huge resources for 100% value addition in different sectors like jute, leather, agriculture, frozen fish, handicrafts, and home textiles. UAE can choose Bangladesh as their next destination for trade and investment" Jashim said.

The FBCCI President was addressing the Bangladesh Economic Forum in Dubai, the capital of the United Arab Emirates, today organized by Pan Asia Group and BIDA, said a press release.

Bangladesh exported goods worth $0.5 billion to UAE in the FY21, while the import was $1.3 billion. The UAE ranks 13th largest investor in Bangladesh.

Citing these statistics, Jashim said that there are huge untapped potentials from both Bangladesh and UAE to enhance bilateral trade and investment.

The President said that geographical advantage makes Bangladesh the gateway of South Asia and ASEAN countries. Moreover, investors could enter into the Chinese market by investing in Bangladesh as it is located very close to China.

"Bangladesh also has a huge domestic market of 170 million people. The country has a total labor force of 68.5 million people which is the 7^th largest in the world. Bangladesh is also sufficient in producing enough electricity for industrial plants," he added.

Talking about the infrastructural readiness, the FBCCI Chief said, some 100 economic zones, 26 IT parks, sector-based cluster parks, 6 EPZs, and tourism parks across the country make Bangladesh as one of the most attractive destinations for foreign investors.

Jashim also called for enhanced cooperation in development in innovation, energy, ports and logistics, MSMEs, ICT, RMG, agro-business and halal food processing, plastics, electrical and electronics, light engineering, banking, insurance, jute, leather, tourism, skills development and knowledge transfer to facilitate the transition of the 4IR.