The Executive Chairman, Board of Investment, Dr Syed Abdus Samad attended 18th Asian Investment Conference (AIC) of Credit Suisse in Hong Kong today. He was accompanied by the Consul General of Bangladesh in Hong Kong, Mr. Mohammad Sarwar Mahmood.
During the Conference, Dr. Samad spoke as a ‘Keynote Speaker’ in the ‘Keynote Panel’, entitled, ‘When will frontier markets prove rewarding to investors?’. In his speech, Dr. Samad spoke on the development of Bangladesh in the frontier market as well as business climate and investment trends in Bangladesh.
He highlighted among others that according to Standard & Poor’s classification, as of September 19, 2011, Bangladesh is included in the frontier markets list with other 35 countries.
He mentioned that the National Industrial Policy of Bangladesh recognizes: private sector is treated as the engine of growth, 100% foreign equity is allowed, no upper ceiling for foreign investors or performance requirements, equal treatment for both local and foreign investment. He added that under Public private Partnership (PPP), 42 projects with approximate worth around US$14 billion are in various stages of implementation.
On the flow of Foreign Direct Investment (FDI), he said that starting with a moderate US$701 million in 2009, it reached US$1.6 billion in CY 2013.
Observing that according to World Bank’s ‘Doing Business report 2014’, Bangladesh is the : 2nd easiest place in the region to do business, 2nd in the region on ‘starting a business’, 1st in region on ‘protecting investors’, 1st in region on ‘ease of paying tax’, Dr. Samad added that investment in Bangladesh is secure vis-à-vis nationalization and expropriation.
Touching upon all the above positive indicators about the state of economy in Bangladesh, the Executive Chairman, Board of Investment, invited the participants which included a good number of corporate investors, to consider Bangladesh as ‘dreamland for investors’.