Jun 29, 2020
BIDA has engaged with investors from UK during virtual dialogue with the British Business Group.
The dialogue was joined by H.E. British High Commissioner Robert Chatterton Dickson and H.E. Bangladesh High Commissioner to the UK Saida Muna Tasneem.
The Department of International Development (DFID) Country Director Judith Herbertson and officials of the International Finance Corporation (IFC) were also present in the meeting.
“The UK is our close friend and a dedicated development partner. It is also among the top countries providing Foreign Direct Investment and it is an export market worth $3 billion. British companies are adding great value to our economy due to their uniqueness and creativity,” said BIDA Executive Chairman Md. Sirazul Islam.
BBG Chairman and HSBC Bangladesh CEO Md. Mahbub ur Rahman thanked BIDA for proactively reaching out for a dialogue. He urged BIDA to accelerate the work to improve the country’s business environment. He also urged the government for easier procedures of repatriation of head offices expenditure, royalty and technical fees.
There are FDI opportunities in the sectors of information technology, green financing and renewables, said Bangladesh High Commissioner to the UK, Ms. Saida Muna Tasneem. “The Bangladesh High Commission in UK is focused on promoting IT as it is one of the current strengths of Bangladesh. UK has the world’s third highest unicorn IT firms.”
Commending BIDA for its role in driving Doing Business reforms and the development of the country’s first interoperable platform, BIDA’s One Stop Service, she asked BIDA to also take up green financing as one its major focus. She also advised the UK side to explore the possibility of establishing a joint chamber.
(Clockwise from left) Marks and Spencer Country Manager Shwapna Bhowmick, Asian Tiger Capital Partners Group Chairman Ifty Islam, Unilever Bangladesh CEO & Managing Director Kedar Lele and British American Tobacco Bangladesh Managing Director Shehzad Munim addresses the dialogue.
UK businesses are flexible, imaginative, said H.E. British High Commissioner Robert Chatterton Dickson. “Bangladesh has a very attractive market. BIDA can draw investment destined for South Asia to Bangladesh by developing positive feedback from current
investors. The BIDA executive chairman’s statement proves that the Bangladesh government has clear and strong impetus for Doing Business reforms.” he said.
BIDA chief Md. Sirazul Islam requested the cooperation of the Bangladesh High Commission in UK and the BBG in organizing a webinar with potential UK investors aimed at building a network with new and high-value British investors.
He then thanked DFID and the IFC for providing crucial support for the improvement of Bangladesh’s investment climate.
Unilever Bangladesh CEO & Managing Director Kedar Lele, British American Tobacco Bangladesh Managing Director Shehzad Munim, Marks and Spencer Country Manager Shwapna Bhowmick and Asian Tiger Capital Partners Group Chairman Ifty Islam were among those who addressed the dialogue.