The Financial Express

Bangladesh can 'attract $20b from CACCI nations' investors'

Potential sectors identified

| Updated: December 10, 2019 19:47:48

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Picture used for illustrative purpose only — Collected Picture used for illustrative purpose only — Collected

Bangladesh may be able to attract new investments worth over US$ 20 billion in different sectors of the country.

The member countries of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) can make the investment in those sectors having huge growth potential.

Sheikh Fazle Fahim, president of the country's apex business body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), made such observations on Thursday at a press conference.

The press conference was organised to disseminate outcomes of the just-concluded 33rd CACCI Conference, held for the first time in Bangladesh. It was jointly organised by the FBCCI and the CACCI at a hotel in the city's Karwan Bazar area.

Mr Fahim said, "We have identified a potential investment pool of over $20 billion from the network of CACCI."

The FBCCI president said the possibility of new investment was discussed in different business-to-business (B2B) meetings held during different sessions of the two-day CACCI Conference.

The potential areas to lure investment includes light engineering, automobile, infrastructure, food processing and tourism and hospitality and the investments may be made in the country's economic zones, he said.

He also informed the press that two memorandums of understanding (MoU) were signed at the conference.

As per the MoU signed with Russia, Bangladeshi chambers and FBCCI members will join a Russia based e-chamber platform which will allow them showcase their products from anywhere in the country on the global B2B platform.

Under another MoU with Australia-based International College of Advanced Education, FBBCI will get the opportunity to have the institution's training module which will help the members of the trade body hone their skills, he said.

CACCI president Samir Modi was also present at the press conference. Different chambers, businesses and trade bodies from 28 countries in the Asia and Western Pacific region including Bangladesh are members of the CACCI.

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