Invest more in Bangladesh DCCI urges Hong Kong businesses

Hong Kong has become one of the top 10 foreign investors in Bangladesh, pouring $1.8 billion till date mainly in the textile and energy sectors, said Rizwan Rahman, president of the Dhaka Chamber of Commerce & Industry (DCCI), yesterday. 

Bilateral trade has already reached over $1 billion, he told a seminar on "Exploring business and investment opportunities for Bangladesh via Hong Kong" jointly organised by the DCCI and Hong Kong Trade Development Council (HKTDC) at Lakeshore Hotel.

Taking inspiration from the investment successes and ties, others can explore potentials, he said.

Hong Kong is an important centre for international finance and trade for the Asia-Pacific region, enabling businesses to tap massive opportunities, Rahman said, urging entrepreneurs in Hong Kong to invest more in Bangladesh.

Bangladesh's upcoming United Nations status graduation from least developed to developing country will subsequently necessitate foreign investment, especially in infrastructure, financial, service and manufacturing sectors, said Commerce Minister Tipu Munshi.

Hong Kong is an important centre for international finance and trade for the Asia-Pacific region, enabling businesses to tap massive opportunities, says DCCI chief

Bangladesh has a good demographic dividend, skilled workforce and congenial investment environment. "Try Bangladesh for investment," he added.

Hong Kong is a trusted partner for Bangladesh, he said, hoping for more companies from this special administrative region of China to come to Bangladesh.

If more companies from Hong Kong come to Bangladesh, including under public-private partnership models, it will enable technology transfers, said Sharifa Khan, secretary to Economic Relations Division, pointing out Bangladesh's efforts at developing ports and logistics.

In 2020, bilateral trade stood at $1.41 billion, with Bangladesh importing goods worth $1.28 billion and exporting goods worth $126.7 million, Rajesh Bhagat, consultant for South Asia at the HKTDC.

He also said Bangladesh was already giving good incentive packages to foreign investors and further reforms would be helpful.