Investment News

BIDA seeks diversification of Malaysian investments

Jun 02, 2021

Over 200 participants have joined a summit organized by BIDA and Standard Chartered to highlight strategic opportunities for Malaysian companies in Bangladesh.

The event ‘Showcase Bangladesh 2021: Bangladesh-Malaysia Investment Summit’, organized on Jun 2, 2021, encouraged diversification of Malaysian investments into sectors such as agribusiness, Halal food, RMG, IT, healthcare and more

H.E. High Commissioner of Malaysia, Haznah Md. Hashim said, “Our investment in Bangladesh cumulates to more than 3 billion USD on various sectors like telecommunication, infrastructure education and so on. To make this already established relationship even stronger, I would suggest the consideration of tax incentives in the short run and to reduce trade barriers and implement FTA to help trade relations grow even stronger.”

“Bangladesh has bilateral and international treaties with Malaysia and our governments are actively considering an FTA, which will definitely boost bilateral trade between the nations. We look forward to facilitating the entry and growth of more Malaysian businesses in Bangladesh,” said BIDA chief Md. Sirazul Islam in his key-note address.

Standard Chartered Bangladesh CEO Naser Ezaz Bijoy said, “As Bangladesh and Malaysia progress towards a common goal of becoming high-income countries, there are a host of shared opportunities that are yet to be explored, in order to realize the full potential of the collaboration between our two economies. The purpose of this summit is to accelerate the joint efforts to identify complementarities in various sectors, and to establish continuous engagement between relevant stakeholders to leverage these opportunities.”

Mr. Tipu Munshi MP, Honorable Minister for Commerce, attended the event as chief guest, while Mr. Salman Fazlur Rahman, Private Sector Industry and Investment Adviser to the Honorable Prime Minister, was present as Guest of Honour.

Among the attendees who addressed the webinar were Md Golam Sarwar, High Commissioner of People’s Republic of Bangladesh to Malaysia; Datuk Md Nor bin Ali, Chief Investment Officer, Edra Energy; Mahtab Uddin Ahmed, Chief Executive Officer, Robi Axiata; Rupali Chowdhury, President, Foreign Investors Chamber of Commerce and Industry (FICCI).