Bangladesh holds potential as preferred FDI destination
Says Gawhar Rizvy
Foreign Affairs Advisor to the Prime Minister, Dr Gawhar Rizvy, yesterday said that Bangladesh is turning out to be one of the most preferred destinations for foreign direct investment (FDI) as there is no break in policy continuity at the government level.
He was speaking at a plenary session of leading young entrepreneurs of Bangladesh and the Edmond De Rothschild Group, one of the most prominent business groups in Europe, organised by the Citibank.
Julien Pitton, managing director, Corporate Finance and Jogiswar Singh, managing director and chief strategist, Asia and Middle East of Edmond De Rothschild Group, have come to Bangladesh to scout for investment opportunities.
Dr Gawhar Rizvi, who facilitated the delegations visit to Bangladesh during the last Bangladesh Investment Summit organised by the Citibank in Singapore, said that there are ample investment opportunities in Bangladesh.
Given the stability, given our liberal, secular condition, I can say that you all can come here and make investment, said Rizvi, adding that the country now has stability and policy continuity.
We can be very proud of the social stability of the country now. Our democratic institutions are stable and there are fewer risks, he said.
Rizvi said that even during the period of political upheaval, the export industry of the country wasnt affected. He also said that Bangladesh is probably the only country in the world whose entire population has got basic health care coverage. This indicates the advancement and
the amount of stability we have been able to create in Bangladesh, he said.
Speaking on the occasion, Jogiswar Singh said that they are looking for reliable partners, who will share their vision. For long, Edmond de Rothschild Group has been focusing on the Western market, but now it has deliberately decided to shift its focus towards Asia.
He, however, mentioned that instead of direct investments, they will work in collaboration with reputed family-oriented business corporations of Bangladesh.
Our group is run by the sixth generation of a family. We value family business and we maintain very good relationship with our clientele, he said, adding that the quality of network that the group possess could be used by the business organisations in Bangladesh.
He said that by collaborating with them, the business houses in Bangladesh will be able avail of diversified international opportunities.
If you are looking to acquire, merge or sell your companies, we can provide you a wide avenue to meet a large pool of able clientele with whom we have maintained very personal relationship, he said.
Julien Pitton said that the plenary session with the local entrepreneurs has opened a window to link the business families of Europe to the families in Bangladesh. We are more for relationships than business because with relationships more opportunities emerge, he said.
Sohel RK Hossain, Managing Director and CEO of Citibank said that the banks role in this regard is to act as an intermediary in bringing together potential foreign investors, leading business representatives and also media for an inclusive discussion on the countrys growing investment opportunities.
SK Sur Chowdhury, Deputy Governor of Bangladesh Bank, Biru Paris ksa Paul, Chief Economist of the Bangladesh Bank and Abu Rashed, PPP advisor to the PMs office also spoke on the occasion.
