DHAKA, July 24, 2018 (BSS) – Bangladesh High Commissioner to India Syed Muazzem Ali has
urged the Indian companies to invest more in Bangladesh taking the advantage
of its impressive economic growth.
“The most practical cause of action would be to set up a series of
“buy-back” projects, where Indian investors will set up industries in
Bangladesh and re-export to India and in some other neighbouring countries,”
he told a seminar in Kolkata yesterday.
Bangladesh Deputy High Commission in Kolkata and Merchants Chamber of
Commerce and Industry (MCCI) jointly organised the seminar to celebrate
Bangladesh’s graduation from LDC, according to a message received here today.
Syed Muazzem Ali advised the Indian businesses to take advantage of
Bangladesh’s competent labour costs and closer proximity to North-East
markets.
He mentioned that several Indian mega companies like Hero-Honda, Tata
group or CEAT Tire companies have already set up such projects in Bangladesh.
“These are small projects, but we need much bigger investments. If we
could engage in bigger projects, this will also ensure the stability of our
relationship,” he added.
Expressing satisfaction at Bangladesh’s graduation from LDC Syed Muazzem
said, “This achievement partly fulfils the dream of Bangabandhu Sheikh
Mujibur Rahman, Father of our Nation, to transform Bangladesh into “Sonar
Bangla” (Golden Bangla).”
The high commissioner said, “Under the visionary leadership of Prime
Minister Sheikh Hasina, Bangladesh has done wonders during recent years since
her assumption of power in 2009 for the second time.
He said Bangladesh has seen a steadily upward run in almost every sector
of governance, economy, politics and social uplift.
“Today Bangladesh is one of the fastest growing economies in the world
with a record 7.28% GDP growth. Our growth rate is expected to reach 7.65 per
cent in current FY 2017-18,” he added.
He said the country which once was ridiculed as ‘bottomless basket’ is
now globally considered as a ‘development-miracle’.
Muazzem Ali said Bangladesh’s socio-economic achievement is a global
role-model.”
Presided over by Toufique Hasan, Deputy High Commissioner, the seminar
was also addressed by Dr Jamaluddin Ahmed, General Secretary of Bangladesh
Economic Association, Ramesh Agarwal, President of MCCI, Sheikh Fazle Fahim,
Senior Vice President of FBCCI and Vishal Jhajharia, Senior Vice President of
MCCI.
A similar seminar, jointly organised by Bangladesh High Commission in New
Delhi and Federation of Indian Chamber of Commerce and Industry (FICCI), was
held in New Delhi last month.