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Bangladesh International Investment Summit to appeal FDI

BIDA organizing Bangladesh International Investment Summit on November

Bangladesh Investment Development Authority (BIDA) will host two day ‘Bangladesh International Investment Summit’ on November 28-29, 2021 to promote investments in target sectors and build awareness of #BrandBangladesh!

The summit will showcase the steps the government has taken over the last five years to advance the investment climate and ease the process of doing business.

Figure: BIDA will host two day ‘Bangladesh International Investment Summit’ on November 28-29, 2021 to promote investments in target sectors and build awareness of #BrandBangladesh!

Recently, a declaration ceremony and press meet was held. At a press conference, Salman F Rahman, Private Industry and Investment Affairs Adviser to the Prime Minister, said Bangladesh was yet to fully utilize the investment environment that had been created in recent years.

Bangladesh’s investment-to-GDP ratio is the lowest in South Asia.

“Bangladesh needs FDI to increase the investment-to-GDP ratio to expedite the GDP growth,” Salman F Rahman said, adding that the summit would attempt to attract foreign investors and Bangladeshi expatriates.

In recent years, the ratio of the public investment-to-GDP has displayed a growing trend, but private investment has been decaying.

BIDA said, the investment scenario has been promising in Bangladesh, and investors were optimistic until the COVID-19 pandemic.

Adding that the government took a lot of initiatives to improve the business environment, and they would be highlighted at the summit.

Md Sirazul Islam, Executive Chairman of the BIDA, said the agency was trying to attract more FDI in all sectors to ensure economic growth.

The BIDA will spend Tk 10 million for the program, while the International Finance Corporation (IFC) will bear all of the expenses of the summit.

Islam optimisms the number of participating investors will be at least 1,000 from home and 10 target countries that will keenly explore investment opportunities in Bangladesh.

Representatives of governments and investors from the US, the United Kingdom, Japan, South Korea, Singapore, Hong Kong, China, Saudi Arabia, the United Arab Emirates, India, Turkey, Thailand, Malaysia, and the Netherlands have been invited.

The BIDA has also invited the World Bank, the Asian Development Bank, the Asian Infrastructure Development Bank, and the Japan International Cooperation Agency to participate in the summit.

Local policy-makers, investors, and economists will also take part.

BIDA said the government took a lot of initiatives to increase the business environment, and they would be highlighted at the summit on November 28-29.

Regarding the summit, BIDA’s Sirazul Islam said it would offer an effective platform to promote private sector investment opportunities in an integrated manner.

The summit will showcase private sector investment opportunities, highlighting national competitiveness, policy priorities, and deeper economic cooperation.

According to the concept note of the summit, by hosting both in-person and virtual participants, the event will promote opportunities in high-growth thrust sectors, while facilitating networking and exchange of investment ideas.

It will bring together industry experts, policymakers, existing and potential investors, development partners, diplomats and media representatives.

Md Tofazzel Hossain Miah, secretary to the Prime Minister’s Office, Shaikh Yusuf Harun, executive chairman of the Bangladesh Economic Zones Authority, Md Nazrul Islam, executive chairman of the Bangladesh Export Processing Zones Authority, Sultana Afroz, chief executive officer of the Public-Private Partnership Authority, Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industries, and Nuzhat Anwar, acting country manager of the IFC, were present at the media briefing.

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