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Chief Adviser Prof Muhammad Yunus Tuesday invited Malaysian investors to invest in Bangladesh to book bounteous business benefits unlocked by the interim government through a series of measures to turn the country a business haven.
"Bangladesh is trying to become business-friendly in every possible way… I found an unlimited prospect in changing Bangladesh," the head of post-uprising government told his audience at a business forum in Kuala Lumpur on trade and investment opportunities between Bangladesh and Malaysia.
"Business did not proceed in Bangladesh in the past the way I thought was possible," he said, insisting that in New Bangladesh many things are emerging, and one of those is business possibilities.
"Bangladesh offers young people, creative people," said the Chief Adviser, urging the investors to take advantage of the young Bangladeshi diaspora spread in many countries.
Referring to young Bangladeshis living abroad, he said they always have the hunger to do something for Bangladesh.
Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, began the programme with a presentation in which he described the competitive advantages Bangladesh offers for the investors and the efforts of Interim Government to remove tariff and non-tariff barriers.
Vivek Sood, Axiata Group CEO and managing director and primary shareholder of cellular operator Robi, also gave a presentation on Axiata on 28 years of growth and partnership shared success in Bangladesh.
Tengku Muhammad Taufik, President and Group CEO of Petroliam Nasional Berhad (Petronas), Amirul Feisal Wan Zahir, Managing Director of Sovereign Wealth Fund Khazanah Nasional, top officials of palm-oil companies Sime Darby Plantations, Kuala Lumpur Kepong Berhad (KLK), IOI Corporation, and Felda Global Ventures (FGV), Syed Faisal Albar, Chairman of Proton Holdings Berhad (Proton), and Lim Wee Chai, Executive Chairman of glove manufacturer Top Glove Corporation, were among others present on the occasion.
The business gathering was preceded by the signing of an MoU between the National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Putrajaya.
Meanwhile, in a separate meeting with a delegation of Malaysian telecom multinational Axiata, the CA urged them to roll out 5G services in Bangladesh and invest in the country's data centres.
The Nobel-laureate microfinance pioneer stresses that Bangladesh needs high-speed internet for its growing economy and to attract investment from global companies eager to tap into its digital economy.
He said the Interim Government is streamlining licensing regimes to create a more business-friendly environment for top telecommunications operators.
Vivek Sood, Group CEO of Axiata Berhad-the parent company of cellular operator Robi-said the company had conducted a 5G trial in Bangladesh but noted that the expansion of the country's fibre-optic network is essential for full 5G deployment.
Sood mentions that Robi has invested around $200 million annually in Bangladesh in recent years and remains open to investing in 5G services. However, he cites costly spectrum fees and a fragmented licensing regime as factors weighing on foreign operators' investment decisions.
He added that Axiata is also interested in joint-venture partnerships for data centres in Bangladesh.
Professor Yunus called for stronger collaboration between the private sector and regulators. "The most important thing is to come closer and understand each other," he said.
The Axiata team was led by Shahril Ridza Ridzuan, Chairman and Independent Non-Executive Director of the Axiata Group.
He was accompanied by Foong Chee Keong, Axiata Group Chief Regulatory and Government Affairs Officer, and Thomas Hundt, the Group's Chief Business and Technology Officer.
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