Dhaka –Prime Minister Sheikh Hasina has requested Indian businesses to invest in Bangladesh to tap the most liberal investment regime in South Asia.
The Prime Minister made the call Thursday as she reached the Indian capital New Delhi to attend a conference of the World Economic Forum and to hold bilateral talks with her Indian counterpart Narendra Modi.
Hasina said it is the time for global investors, particularly Indian entrepreneurs, to invest in Bangladesh in a host of areas like education, light engineering, electronics, automotive industry, artificial Intelligence.
She was addressing a the country strategy dialogue on Bangladesh in the India Economic Summit of the World Economic Forum at Hotel Taj Palace.
In terms of legal protection of foreign investment, generous fiscal incentives, concession on machinery import, unrestricted exit policy, full repatriation of dividend and capital on exit, Bangladesh offers the most liberal investment regime in South Asia, she added.
“We are establishing 100 Special Economic Zones, with one-stop service across Bangladesh,” she said adding that two of the zones are reserved for Indian investors.
A number of high-tech parks are also ready for technology and innovative enterprises, Hasina said.
“Many see Bangladesh as a market of over 30 million middle and affluent class population and a ‘development miracle.”
Nearly 800 representatives from 40 countries are taking part in the two-day summit scheduled to end Friday. The Bangladeshi Prime Minister will address the closing session.
Hasina said Bangladesh merits attention of global and Indian business as a seamless economic space as Bangladesh can serve as the economic hub for the sub-region.
“Beyond our own 162 million people, Bangladesh can be the connecting landmass to a combined market of nearly 3 billion people,” she added.
Bangladesh will be the 26th largest economy in the World by 2030, she said referring to the prediction by the HSBC last year.
Hasina mentioned Bangladesh’s open society, religious harmony, liberal values and secular culture on the one hand and two-thirds of its population mostly under 25 are fast skill-able, adaptive to technologies and ready to engage at competitive wages.
She referred to her country’s remarkable progress in the past years to turn Bangladesh into a prosperous country as dreamt by Bangladesh’s founding father Bangabandhu Sheikh Mujibur Rahman and said the country targeted to be a developed one by 2041.
Describing Bangladesh as a fast moving country to a high-value, knowledge-intensive society, beyond apparel manufacturing, Hasina said, “Last year, we exported 12 industrial robots to Korea. Four ships made in Bangladesh have come to India.”
Indian Reliance recently purchased large quantity of refrigerators made in Bangladesh, she mentioned.