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BSS-10
PM-BUSINESS FORUM
Forge partnership with Bangladesh business community, PM to Brunei
business people
BANDAR SERI BEGAWAN, Brunei, April 22, 2019 (BSS) – Prime Minister
Sheikh Hasina today invited Brunei businesspeople to forge a partnership with
Bangladesh business community for the common journey towards growth and
prosperity.
“We invite you to forge a partnership with our business community in our
common journey towards growth and prosperity. We invite you to get a
firsthand experience of developments and business opportunities in
Bangladesh,” she told the opening ceremony of Bangladesh-Brunei Business
Forum at the Hotel Empire and Country Club here this afternoon.
The prime minister said Bangladesh has become a highly competitive
location for investments in terms of cost, human resources, size of domestic
market, access to international market, trade facilitation, investment
protection, and socio-political stability.
“We have one of the most liberal foreign investment regimes in South
Asia. It includes, among others, protection of foreign investment by law,
generous tax policy, and concessionary duty on import of machinery,” she
said.
Sheikh Hasina said Bangladesh also offers 100% foreign equity,
unrestricted exit, full repatriation of dividend and capital. “We enjoy
preferential access to most of the leading world markets, including EU,
Canada, and Japan,” she said.
The premier said Bangladesh is now the 2nd largest economy in South Asia
and 41st in the world in terms of nominal GDP. “Our economy is moving on a
solid macroeconomic stability, vibrant private sector, and increasing trends
in trade and investments,” she said.
Sheikh Hasina said prudent macroeconomic management, sustained policy
support to private entrepreneurship, and robust investments in infrastructure
and human development contributed significantly to the recent spectacular
success of Bangladesh economy.
“This year, our GDP growth is poised to hit a record 8.13%, after
posting 7.86% last year. Our per capita income is set to reach this year to
US$ 1,909, which is close to the middle income threshold,” she said.
The premier said rapid expansion of industrial sector enabled Bangladesh
to double its annual export earnings in just five years, while steady growth
in agriculture and service sector provides more stability and resilience to
the economy.
Describing the private sector as the main engine of Bangladesh’s
economy, Sheikh Hasina said her government attaches utmost priority to
entrepreneurship and private investments, both domestic and foreign.
“We’re establishing 100 Special Economic Zones throughout the country
and is also setting up a number of industrial parks to promote IT sectors,”
she said.
The premier said Bangladesh’s success in readymade garments sector is
globally known. “We are the 2nd largest readymade garments exporter in the
world, next to China,” she added.
Sheikh Hasina said Bangladesh is emerging rapidly as a major global hub
for quality medicine. “We are exporting medicines to more than 100 countries
including USA, the UK, Australia and Africa,” she said.
The premier said shipbuilding has drawn global attention by producing
world-class oceangoing vessels. “Bangladeshi companies have supplied
passenger and cargo ships to 14 countries including Europe,” she said.
Sheikh Hasina said software is yet another promising industry in
Bangladesh. “Among 800 software and IT companies of Bangladesh, over 150 are
specialized in serving overseas clients,” she said.
The premier added that more than 20,000 Bangladeshi IT professionals are
working in various reputed IT companies all over the world, including
Microsoft, Intel, IBM, Oracle and Cisco.
Sheikh Hasina said Bangladesh’s agro-based products, home appliances,
light engineering products, and electronic gadgets are making mark in the
world market. With growing environment concern all over the world, she said,
biodegradable jute and substitute jute products from Bangladesh render huge
potentials. “In fact, we have a wide range of other quality products at very
competitive prices,” she said.
The prime minister said the McKinsey & Company has rightly dubbed
Bangladesh as a fast-growing sourcing destination, emerging manufacturing and
distribution hub, and an expanding consumption economy.
She said her government is striving to materialize the cherished dream
of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, who steered the
nation towards independence in 1971.
The prime minister said Bangabandhu sought to transform the war-ravaged
Bangladesh into “Sonar Bangla”- Golden Bangladesh, a country free from
hunger, poverty and deprivation.
Sheikh Hasina said her government is working to improve the living
standard of 162 million people through accelerated economic growth with
equality and robust investments in social sectors.
“We have set clear goals to become a middle-income country by 2021 and a
developed one by 2041,” she said.
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