Bangladesh Defense
Saif
Senior Member
- Jan 24, 2024
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Govt, AmCham to work together to attract additional $5.0 billion US investment in five years
The government and the American Chamber of Commerce in Bangladesh (AmCham) will work together to attract an additional $5.0 billion in US investment into Bangladesh over the next five years, Commerce Minister Khandaker Abdul Muktadir said. "The government is fully prepared to work closely with U
Govt, AmCham to work together to attract additional $5.0 billion US investment in five years
The government and the American Chamber of Commerce in Bangladesh (AmCham) will work together to attract an additional $5.0 billion in US investment into Bangladesh over the next five years, Commerce Minister Khandaker Abdul Muktadir said.
"The government is fully prepared to work closely with US institutions to boost investment, create employment, transfer technology, and expand economic opportunities in Bangladesh," he said.
He made the remarks while speaking as chief guest at the 30th anniversary celebration of AmCham Bangladesh, held at Radisson Blu Water Garden ballroom in the capital on Saturday.
US Ambassador to Bangladesh Brent T Christensen, AmCham President Syed Mohammad Kamal, Vice President Alauddin Azad, former presidents, current and former executive committee members, officials from various ministries, business leaders, and media personnel were present at the event.
The Commerce Minister stated that over the past three decades, AmCham has played a vital role in developing economic relations between Bangladesh and the United States, serving as an effective bridge between the government and the private sector.
Bilateral trade between Bangladesh and the US currently exceeds $13 billion.
However, the minister noted that this relationship extends beyond trade statistics, as US institutions contribute significantly to Bangladesh's development through investment, technology, employment, knowledge, and global best practices.
He informed that AmCham member institutions have invested over $5.0 billion in Bangladesh and contribute more than 20 per cent to the national revenue, reflecting the confidence of US businesses in the Bangladeshi economy.
He added that during a recent meeting with the Prime Minister, AmCham leaders expressed their intent to bring an additional $5.0 billion in US investment over the next five years, assuring that the government will provide necessary cooperation to realize this initiative.
"When any genuine business issue is brought to us, my ministry and the government will try their utmost to find realistic solutions," the minister assured.
Citing an example, he mentioned 'Corteva Bangladesh', an AmCham member firm, noting that a complexity regarding its industrial and commercial license was resolved within a month through government initiative.
Describing Bangladesh as a country with vast investment potential, he highlighted its strategic location, young and skilled workforce, large domestic market, and strong potential across sectors including technology, digital innovation, healthcare, manufacturing, and financial services.
However, noting that opportunities alone are not enough to attract investment, he emphasised that investors require predictability, ease of doing business, efficient trade facilitation, and a stable policy framework.
The government is working to simplify business processes, increase digitalisation, expand trade facilitation, and create a more investment-friendly environment.
Regarding future economic ties, the Commerce Minister expressed hope that the next chapter of the Bangladesh-US economic partnership will be even more promising, with more US firms investing in Bangladesh, modern technology and global expertise being integrated, and access for Bangladeshi products and services to the US market expanding further.
Achieving this goal, he noted, requires a strong partnership among the government, business community, investors, development partners, and organisations like AmCham.
Describing AmCham's 30th anniversary as an opportunity to create new future possibilities, the minister urged everyone to work together for more trade, investment, innovation, new jobs, and a stronger, lasting economic partnership between Bangladesh and the United States.
The government and the American Chamber of Commerce in Bangladesh (AmCham) will work together to attract an additional $5.0 billion in US investment into Bangladesh over the next five years, Commerce Minister Khandaker Abdul Muktadir said.
"The government is fully prepared to work closely with US institutions to boost investment, create employment, transfer technology, and expand economic opportunities in Bangladesh," he said.
He made the remarks while speaking as chief guest at the 30th anniversary celebration of AmCham Bangladesh, held at Radisson Blu Water Garden ballroom in the capital on Saturday.
US Ambassador to Bangladesh Brent T Christensen, AmCham President Syed Mohammad Kamal, Vice President Alauddin Azad, former presidents, current and former executive committee members, officials from various ministries, business leaders, and media personnel were present at the event.
The Commerce Minister stated that over the past three decades, AmCham has played a vital role in developing economic relations between Bangladesh and the United States, serving as an effective bridge between the government and the private sector.
Bilateral trade between Bangladesh and the US currently exceeds $13 billion.
However, the minister noted that this relationship extends beyond trade statistics, as US institutions contribute significantly to Bangladesh's development through investment, technology, employment, knowledge, and global best practices.
He informed that AmCham member institutions have invested over $5.0 billion in Bangladesh and contribute more than 20 per cent to the national revenue, reflecting the confidence of US businesses in the Bangladeshi economy.
He added that during a recent meeting with the Prime Minister, AmCham leaders expressed their intent to bring an additional $5.0 billion in US investment over the next five years, assuring that the government will provide necessary cooperation to realize this initiative.
"When any genuine business issue is brought to us, my ministry and the government will try their utmost to find realistic solutions," the minister assured.
Citing an example, he mentioned 'Corteva Bangladesh', an AmCham member firm, noting that a complexity regarding its industrial and commercial license was resolved within a month through government initiative.
Describing Bangladesh as a country with vast investment potential, he highlighted its strategic location, young and skilled workforce, large domestic market, and strong potential across sectors including technology, digital innovation, healthcare, manufacturing, and financial services.
However, noting that opportunities alone are not enough to attract investment, he emphasised that investors require predictability, ease of doing business, efficient trade facilitation, and a stable policy framework.
The government is working to simplify business processes, increase digitalisation, expand trade facilitation, and create a more investment-friendly environment.
Regarding future economic ties, the Commerce Minister expressed hope that the next chapter of the Bangladesh-US economic partnership will be even more promising, with more US firms investing in Bangladesh, modern technology and global expertise being integrated, and access for Bangladeshi products and services to the US market expanding further.
Achieving this goal, he noted, requires a strong partnership among the government, business community, investors, development partners, and organisations like AmCham.
Describing AmCham's 30th anniversary as an opportunity to create new future possibilities, the minister urged everyone to work together for more trade, investment, innovation, new jobs, and a stronger, lasting economic partnership between Bangladesh and the United States.
