Hasina urges Saudi entrepreneurs to be Bangladesh's investment partners

Prime Minister Sheikh Hasina today urged Saudi entrepreneurs to be "partners" of Bangladesh in investment, trade, profit sharing and prosperity to bring a change in the life of millions of people. 

"As we (Bangladesh) strive to materilaize the goals of 'Vision 2021' and 'Vision 2041', I request the leaders of Saudi investors and entrepreneurs to partner with us in investment, trade, profit sharing and prosperity," she told an interaction with Jeddah Chamber of Commerce and Industry (JCCI) leaders.

Sheikh Hasina said: "we have already graduated to a lower middle income country . . . together we can bring a change in the life of millions of people."

Briefing the newsmen after the meeting Prime Minister's Press Secretary Ihsanul Karim said she particularly welcomed Saudi investments in th country's emerging sectors like shipbuilding, textiles, leather, jute, ceramics, petrochemicals and agro-processing and pharmaceuticals.

The premier, he said, also pointed out that light engineering and electronics, telecommunications and IT, power, energy, water and marine and other infrastructure projects as well as in hi-tech manufacturing and microprocessors could also be attractive areas for Saudi investments. 

Sheikh Hasina is now in Saudi Arabia on a five-day official at the invitation of King Salman bin Abdulaziz AlI

The premier told the Saudi entrepreneurs that Bangladesh adopted a very liberal investment policy while it also ensured foreign ventures protection by enacting investment friendly laws and offering general tax holiday, concessionary duty on machinery imports, remittances of royalty and 100 percent foreign equity.

Besides, she said, other benefits like unrestricted exit policy, full preparation of dividend and capital on exit were also being offered to the investors. 

Sheikh Hasina said Bangladesh's young, industrious and easily trainable abundant workforce with competitive wages, cheaper establishment coats and duty-free and quota-free access to European, East Asian, Canadian and Australian markets were added advantages for foreign investors. 

Referring to her government's initiatives for establishing 100 Special Economic Zones in the country, the Prime Minister said the move was taken as part of a new plan to industrialise Bangladesh.

"The government is also developing a number of hi-tech parks in the country for IT industries . . . Bangladesh offers competitive incentive packages for the investors in these zones and parks," the premier said.

The Prime Minister said, in pursuance of Father of the Nation Bangabandhu Sheikh Mujibur Rahman's dream to make the country poverty-free Sonar Bangla, "Bangladesh is now on way to becoming a digitalised, knowledge-based middle income country by 2021 and a developed one by 2041".

Source: BSS.