The Crime Desk: Highlighting various possibilities, Prime Minister Sheikh Hasina urged Qatari businessmen to invest in Bangladesh in various sectors, including infrastructure, energy, tourism, and oil and gas exploration in the sea.
Calling for the formation of a committee of the two governments on trade and investment, he said that by establishing a joint business forum, the private sectors of Bangladesh and Qatar should be brought onto a single platform for a mutually beneficial economic partnership. The two countries must reposition their relationship on the basis of a mutually beneficial economic partnership.
He invited a delegation of Qatari businessmen to visit Bangladesh soon. He urged non-resident Bangladeshis living in Qatar to invest in the country and sought their participation in nation-building efforts.
The Prime Minister of Bangladesh addressed the Doha Investment Summit 2023, ‘The Rise of the Bengal Tiger: Potentials of Trade and Investment in Bangladesh,” held in the capital of Qatar on Monday (March 6).
Sheikh Hasina advised Qatari businessmen to look into some thrust sectors in Bangladesh. Because his government has kept the infrastructure and logistics sectors open for investment.
Referring to Qatar’s investment opportunities in the energy sector, including renewable energy, Sheikh Hasina said Bangladesh can benefit from Qatar’s expertise in offshore gas exploration and energy distribution systems.
Referring to the agricultural growth of Bangladesh, he said that this also creates opportunities for cooperation in the agricultural processing industry in the buy-back arrangement with Qatar.
In this context, he pointed out that the government has plans to establish three special tourism zones where Qatar can be involved in both real estate and hospitality. He said Bangladesh and its vibrant start-up scene are ready for Qatari investment, aspiring to have at least ten unicorns in ‘Smart Bangladesh’.
Besides, Qatari investors can consider portfolio investment in Bangladesh, he said, as the Bangladesh Securities and Exchange Commission is working hard for the further development of the capital market. He said, “We have taken several steps to put our bond market on a firm footing, and we are soon going to include derivative products in the capital market.
The Prime Minister said that the disruption in the international energy market due to the Ukraine war has pushed a country like Bangladesh into a difficult situation. He said, “We are interested in increasing the import of LNG from Qatar to meet the growing energy demand. We urge Qatar to explore more export opportunities from Bangladesh.
Sheikh Hasina said that Bangladesh and Qatar are bound by strong bonds of brotherhood and friendship, and the expatriate Bangladeshi community here is an excellent bridge between the people of the two countries. I am pleased to see many Bangladeshi nationals today with Qatari business representatives.
The prime minister said Bangladesh has the most liberal investment regime in the region and offers incentives such as tax holidays, concessional duty on machinery imports, royalty remittances, technical know-how and fees, 100 percent foreign equity approval, an unrestricted exit policy, a dividend on exit, and full repatriation facilities for capital.
Sheikh Hasina said that the Bangladesh Investment Development Authority (BIDA) is providing many services to foreign investors under one roof. His government is setting up 100 special economic zones with integrated facilities, and so far five countries’ special economic zones have been created.
The Chief Minister said they are investing heavily in infrastructure for a regional connectivity and logistics hub.
In this context, he mentioned various mega-projects like the Padma multi-purpose bridge, the Karnaphuli river tunnel, the Matarbari deep sea port, the expanded third terminal of Dhaka International Airport, the Rooppur nuclear power plant, and the metro-rail system, all of which testify to our strong conviction to move forward.
The Prime Minister said that his government has already brought the entire nation under electricity and internet coverage. Bangladesh’s first communication satellite, Bangabandhu-1, opens new horizons. He said Bangladesh has a large sector of easily trainable workers at competitive wages, while it has the world’s second-largest community of registered IT freelancers.
Sheikh Hasina said that the country’s sons and daughters are preparing themselves to join the fourth industrial revolution. We have made great leaps in developing digital backbones in remote areas. He said we are gradually building 38 hi-tech parks. It is being opened up for foreign investment. Our vision now is to build a ‘Smart Bangladesh’ by 2041, drawing strength from a knowledge-based society.
Sheikh Hasina said that Qatar is offering to be a partner of Bangladesh in the implementation of the National Vision 2030. We can equip our workforce with the knowledge and skills to meet the thriving employment market in Qatar.
The Prime Minister said that we are grateful to the government and people of Qatar for taking good care of our people. He said Bangladesh is now on track to graduate from the UN’s LDC group in 2026, as its 168 million people have achieved it through their hard work and commitment.
The Prime Minister said that the COVID-19 pandemic has proved that her country can realize its vision of building a ‘Digital Bangladesh’.
Just before the pandemic, Bangladesh’s economy had reached a growth rate of 8.15 percent. Even during the pandemic, Bangladesh’s growth rate was 6.94 percent, while its per capita income now stands at US$2,824, a threefold increase in a decade.
Sheikh Hasina said Bangladesh’s exports have exceeded 60 billion US dollars and it will receive 2.8 billion US dollars in foreign direct investment in 2022.
The Prime Minister said Bangladesh is among the top ten remittance-earning countries in the world and is now the world’s 35th largest economy with a GDP of US$ 460 billion. We are projected to become the 24th largest by the first half of 2030.
Sheikh Hasina said that during her first term in 1996–2001, her government completely opened the doors of business and trade for the private sector.
He said that now the private sector is flourishing and our government is acting as a facilitator. We hope to take Bangladesh to the next stage of development.
Prime Minister Bangabandhu reiterated his commitment to fulfill Sheikh Mujib’s dream of building a ‘Golden Bengal” and expressed confidence that Qatar’s leadership and people will stand by Bangladesh in this regard. Source: BSS
