Sri Lankan businesses expand in Bangladesh

October 20, 2019

The Sri Lankan firms doing business in Bangladesh are feeling confident and several are expanding their operations.

BIDA Executive Chairman Md. Sirazul Islam invited more investment initiatives from the island nation during a courtesy visit by H.E. High Commissioner of Sri Lanka Crisanthe De Silvaon Thursday.

“We are have been working to improve our business climate and have already secured many achievements. Bangladesh welcomes investment from Sri Lanka, with whom we share the same region, culture and great friendship,” the BIDA chief told the High Commissioner.

Sri Lankans, doing business in Bangladesh, are expanding investments in the sectors of readymade garments and bakery goods, said High Commissioner De Silva.More Colombo-based investors are entering the market with some in new sectors such as engineering and construction.

“Bangladesh has taught the world the importance of dynamic leadership,” he said.“Sri Lanka sees Bangladesh as a beacon. It has achieved rapid and inclusive growth. Bangladesh has alarge domestic market and the youth attitude here is very positive, which makes it a very attractive destination.”

“Bangladesh and Sri Lanka have a well-calibrated relationship. There will be an even greater avenue for cooperation once the Coastal Shipping Agreement is signed between Colombo and Dhaka,” he added.