Commerce minister urges Malaysian entrepreneurs to invest in SEZs

Published: July 11, 2019 17:57:22 | Updated: July 11, 2019 19:30:46

Commerce Minister Tipu Munshi on Thursday urged the Malaysian entrepreneurs to invest in special economic zones (SEZs) of Bangladesh as the government is providing all sorts of policy supports to the investors in those zones.

“The Malaysian businessmen may take the opportunity of investing in different sectors of Bangladesh. The sunset industries of Malaysia may be shifted to Bangladesh. Malaysia may take a dedicated economic zone in Bangladesh where only the businessmen of Malaysia may invest,” he said.

The minister came up with the statement while addressing the inaugural session of the ‘Showcase Bangladesh-Go Global’ as the chief guest at the Royale Chulan Hotel in Kuala Lumpur of Malaysia, reports BSS.

Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) organised the event in collaboration with the Bangladesh High Commission in Kuala Lumpur and it was supported by the Malaysia South-South Association (MASSA), Malaysia External Trade Development Corporation (MATRADE) and Bangladesh economic Zones Authority (BEZA).

State Minister for Expatriates’ Welfare and Overseas Employment Imran Ahmed, Deputy Minister for International Trade and Industry (MITI) of Malaysia Dr Ong Kian Ming, Bangladesh High Commissioner to Malaysia Shahidul Islam, Acting High Commissioner of Malaysia in Dhaka Amir Farid Abu Hasan, Bangladesh Association of International Recruiting Agencies (BAIRA) President Benjir Ahmed and BMCCI President Syed Moazzam Hossain also spoke on the occasion.

In the last decades, Tipu Munshi said, the socio-economic status and geopolitics of both the countries, Bangladesh and Malaysia, changed considerably. “We have expanded our trade and investment significantly. “However, we have enormous opportunities to expand our trade and economic ties,” he added.

He believed that there are a number of sectors and initiatives where both the countries may engage for a win-win benefit.

 “Bangladesh has opened up its windows for the foreign investors. The diplomatic relations and partnership between Bangladesh and Malaysia now reached a higher level,” he added.

The commerce minister informed that one hundred SEZs are being established in Bangladesh and the investors may invest here.

Imran Ahmed said Bangladeshi labour has been playing a vital role for long in the economic development of Malaysia. “The Bangladesh government is providing special focus on creating skilled labour force. Malaysia can bring more skilled manpower from Bangladesh,” he added.

Dr Ong Kian Ming said Malaysia will continue working closely together with the Bangladesh government to forge stronger cooperation, particularly in regard to trade and investment relations.

He urged the private sector in both the countries to deepen trade and investment relations among them.

Through the ‘Showcase Bangladesh-Go Global’, Syed Moazzam Hossain said, the business community of both countries can expand their bilateral trade and investment.

He urged the business community of the two countries to share their knowledge and investment opportunities for increasing trade and investment.

In the first eight month of 2018-19, export from Bangladesh to Malaysia was US$ 207.67 while import from Malaysia to Bangladesh was $1,060.40 million. In 2017-2018, export from Bangladesh to Malaysia was $ 232.42 million while import from Malaysia to Bangladesh was $ 1,419.10 million.

Chairman of the Showcase organising committee M Alamgir Jalil delivered the welcome address in the inaugural function.

The event included seminars and B2B meetings and showcasing Bangladeshi products. It was attended by major business houses, interested investors and government bodies of Malaysia and also the investors from Bangladesh who aspires to bring investment from Malaysia to Bangladesh.

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