Hasina seeks Bangladesh-Qatar forum for economic partnership
March 7th, 2023 at 8:07 pm

by Staff Correspondent,

Dhaka – Bangladeshi Prime Minister Sheikh Hasina has requested formation of a Bangladesh-Qatar joint committee on trade and investment to forge economic partnership between the private sectors of the two countries.

“Our two nations need to reposition our ties based on a mutually beneficial economic partnership,” she told an investment summit in Doha, the capital of Qatar.

The Prime Minister invited business delegation from Qatar calling them to invest in Bangladesh’s infrastructures, especially in energy and logistics sectors.

“Bangladesh aspire to have at least ten Unicorns in ‘Smart Bangladesh’, and its vibrant start-up scene is ready to draw Qatari investment,” she told the summit titled “The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh” was held a hotel in Doha.

Investors from Qatar can consider portfolio investment in Bangladesh, she said, adding that Bangladesh Securities and Exchange Commission was working hard to further develop the capital markets.

Bangladesh has one of the most liberal investment regimes in its region, said Hasina. She said disruptions in international fuel market due to the war in Ukraine have pushed countries like Bangladesh into a hard spot.

“In order to meet our growing energy need, we are interested in increasing our LNG imports from Qatar,” she said.

She said Bangladesh and Qatar are bound by strong brotherly ties and friendship, and the Bangladesh expatriate community here is an excellent bridge between the two peoples.

“I am pleased to see many Bangladesh nationals today along with the Qatari business representatives,” she added.

She said her country is offering incentives including tax holiday, concessionary duty on machinery import, remittance of royalty, technical know-how and fees, allowing 100 percent foreign equity, unrestricted exit policy, full repatriation facilities of dividend and capital on exit, etc.

She said the Bangladesh Investment Development Authority (BIDA) is offering a number of services to foreign investors under one roof, while her government is setting up 100 Special Economic Zones with coordinated facilities and there are so far five country-specific Economic Zones in the making.

Hasina said they are investing heavily in infrastructures fit for a regional connectivity and logistics hub.