PM woos Indian investors

Hasina assures 100pc profit repatriation

Prime Minister Sheikh Hasina has urged the Indian businesspeople and investors to bring their businesses and investments to Bangladesh in sectors like power, infrastructure and energy to take the full advantage of Dhaka’s steady economic growth and other incentives.

“Bangladesh is a stable country and is marching forward on a right path. Bangladesh also enjoys an excellent relationship with India with a vision to develop together,” she said while addressing a business event organised by India Bangladesh Business Forum at a local hotel yesterday. 
“I urge you to take this opportunity to bring your businesses and investments in Bangladesh,” she added. 
“Our aim is to create an innovative and pragmatic economy which would ensure an inclusive society and job opportunities. I am sure together we can bring in a difference in the life and livelihood of the people of our region,” said the Prime Minister, who left Delhi yesterday wrapping up her four-day visit. 
“We are on track to become middle income Digital Bangladesh by 2021 and developed country by 2041. Price Waterhouse Coopers (PwC) in its report titled 
‘The World in 2050’ has predicted that India will be world’s 3rd largest economy, while Bangladesh will be the 29th economy by 2030,” she said 
“Bangladesh achieved over 7.1 per cent GDP growth last year. We expect that the GDP growth will increasingly reach 8 per cent by 2020. Per capita income has gone up to 1,466 US dollars. Our foreign exchange reserve currently stands at over 30 billion dollars. We received over 2 billion US dollars of FDI and planned to raise the FDI level to 9.6 billion dollars by 2020,” she added.
The Prime Minister said, “Our export earnings were over 34 billion US dollars in 2015-16. With increasingly diversified export basket, we are planning to enhance annual export earnings to 54 billion US dollars by 2020. Target has also been set for $5 billion ICT exports by 2021.” 
“The Indian business community can take full advantage of Bangladesh’s steady economic growth, high demographic dividend, competitive business cost and large consumer base. We have an Indo-Bangla investment agreement in place to protect your investment,” she said, adding, “We are providing attractive packages including 100 per cent repatriation of profit and invested capital.”
Currently, Hasina said that Bangladesh is getting benefits of Generalised System of Preferences (GSP) from 38 countries of the world including EU, Japan, Australia and Canada. 
“You can also avail duty-free and quota-free benefits extended to Bangladesh from countries such as China, South Korea, Thailand, Malaysia and Chile. We have a large domestic market of around 160 million people,” she said.
The Prime Minister revealed that Bangladesh is setting up 100 special economic zones to boost industrialisation and to attract foreign investment and special economic zones in Mongla, Bheramara and Mirshorai have been exclusively dedicated for Indian investors. “We have set up high-tech parks for attracting investments in the technology sector. We have also established the Bangladesh Investment Development Authority (BIDA) and Bangladesh Export Processing Zone Authority (BEPZA). To facilitate further investments, One Stop Service Act is currently being finalised,” she said. 
Hasina further said, “Energy security continues to remain an important element of our business. Our power generation capacity is now 15,726 megawatt. We plan to achieve 24,000 megawatt by 2021.”
“We are investing in infrastructural development projects like the Padma Multipurpose Bridge and Rooppur Nuclear Power Plant. I encourage Indian investors to consider investments in Bangladesh in infrastructure projects, power and energy, manufacturing and transport sectors”, the Prime Minster added. 

PM woos Indian investors

Hasina assures 100pc profit repatriation

Prime Minister Sheikh Hasina has urged the Indian businesspeople and investors to bring their businesses and investments to Bangladesh in sectors like power, infrastructure and energy to take the full advantage of Dhakas steady economic growth and other incentives. Bangladesh is a stable country and is marching forward on a right path. Bangladesh also enjoys an excellent relationship with India with a vision to develop together, she said while addressing a business event organised by India Bangladesh Business Forum at a local hotel yesterday. I urge you to take this opportunity to bring your businesses and investments in Bangladesh, she added. Our aim is to create an innovative and pragmatic economy which would ensure an inclusive society and job opportunities. I am sure together we can bring in a difference in the life and livelihood of the people of our region, said the Prime Minister, who left Delhi yesterday wrapping up her four-day visit. We are on track to become middle income Digital Bangladesh by 2021 and developed country by 2041. Price Waterhouse Coopers (PwC) in its report titled The World in 2050 has predicted that India will be worlds 3rd largest economy, while Bangladesh will be the 29th economy by 2030, she said Bangladesh achieved over 7.1 per cent GDP growth last year. We expect that the GDP growth will increasingly reach 8 per cent by 2020. Per capita income has gone up to 1,466 US dollars. Our foreign exchange reserve currently stands at over 30 billion dollars. We received over 2 billion US dollars of FDI and planned to raise the FDI level to 9.6 billion dollars by 2020, she added. The Prime Minister said, Our export earnings were over 34 billion US dollars in 2015-16. With increasingly diversified export basket, we are planning to enhance annual export earnings to 54 billion US dollars by 2020. Target has also been set for $5 billion ICT exports by 2021. The Indian business community can take full advantage of Bangladeshs steady economic growth, high demographic dividend, competitive business cost and large consumer base. We have an Indo-Bangla investment agreement in place to protect your investment, she said, adding, We are providing attractive packages including 100 per cent repatriation of profit and invested capital. Currently, Hasina said that Bangladesh is getting benefits of Generalised System of Preferences (GSP) from 38 countries of the world including EU, Japan, Australia and Canada. You can also avail duty-free and quota-free benefits extended to Bangladesh from countries such as China, South Korea, Thailand, Malaysia and Chile. We have a large domestic market of around 160 million people, she said. The Prime Minister revealed that Bangladesh is setting up 100 special economic zones to boost industrialisation and to attract foreign investment and special economic zones in Mongla, Bheramara and Mirshorai have been exclusively dedicated for Indian investors. We have set up high-tech parks for attracting investments in the technology sector. We have also established the Bangladesh Investment Development Authority (BIDA) and Bangladesh Export Processing Zone Authority (BEPZA). To facilitate further investments, One Stop Service Act is currently being finalised, she said. Hasina further said, Energy security continues to remain an important element of our business. Our power generation capacity is now 15,726 megawatt. We plan to achieve 24,000 megawatt by 2021. We are investing in infrastructural development projects like the Padma Multipurpose Bridge and Rooppur Nuclear Power Plant. I encourage Indian investors to consider investments in Bangladesh in infrastructure projects, power and energy, manufacturing and transport sectors, the Prime Minster added.