The government on Saturday invited US companies to expand investment in Bangladesh, promising policy stability, equal treatment for foreign investors and a more business-friendly environment to attract higher foreign direct investment (FDI) and strengthen bilateral economic ties.
Prime Minister’s Adviser and spokesperson Mahdi Amin made the call while addressing a programme marking the 250th anniversary of US Independence, organised by the American Chamber of Commerce in Bangladesh (AmCham) in association with the US Embassy in Dhaka.
Describing the private sector as the main driver of economic growth, Mahdi said the government was committed to restoring investor confidence through transparency, accountability, good governance and the rule of law.
“The government will provide all possible policy support to facilitate investment,” he said.
Acknowledging long-standing concerns over unequal treatment of foreign investors, he said the government was determined to ensure a level playing field for both local and overseas businesses.
He urged leading US companies to step up FDI by bringing advanced technology, expertise and global best practices, creating quality jobs and strengthening local industries through partnerships.
Mahdi said Bangladesh’s large domestic market, expanding middle class and youthful workforce offered significant opportunities for foreign investors, while the government’s development strategy placed the private sector at the centre of economic expansion.
He said recent policy measures included facilitating profit repatriation, pursuing liberal economic reforms and offering tax incentives in economic zones, industrial parks and high-tech parks. The government would continue consulting businesses and implementing reforms to further improve the investment climate, he added.
Highlighting the contribution of American companies, Mahdi said US investment had created employment, transferred technology and management expertise, introduced global best practices and contributed to Bangladesh’s economic development.
“Bangladesh is at a crucial stage where we want to learn from international best practices and create an environment in which both local and foreign companies can thrive,” he said.
Mahdi also called for turning “brain drain” into “brain circulation” by encouraging skilled Bangladeshi professionals abroad, particularly in the United States, to contribute to the country’s economic and technological advancement.
He identified aviation, energy, information and communication technology, agro-based exports, pharmaceuticals, textiles, light engineering and high-value manufacturing as sectors with strong potential for expanded Bangladesh-US cooperation.
He also invited US companies to organise investment roadshows in Bangladesh and engage more closely with policymakers to explore new business opportunities.
Speaking at the event, US Ambassador to Bangladesh Brent T. Christensen said Washington sought to build a fair, reciprocal and long-term economic partnership with Bangladesh based on trade, investment and shared prosperity.
He said the United States wanted to move beyond a relationship centred on unilateral trade preferences and development assistance towards one based on fair and reciprocal trade and investment.
“This is a vote of confidence in Bangladesh’s potential, its dynamic private sector, young workforce and growing importance as a regional economic hub,” he said.
The ambassador, however, said Bangladesh would need to accelerate reforms by reducing bureaucracy, tackling corruption, promoting competition and ensuring a more predictable business environment to unlock its full economic potential.
He said the proposed US-Bangladesh reciprocal trade agreement could deepen bilateral economic cooperation by promoting investment, job creation, skills transfer and long-term business engagement.
He also highlighted opportunities for greater collaboration in energy, technology, the digital economy, healthcare, defence, security and investment.
AmCham President Syed Mohammad Kamal said the chamber would continue serving as the primary platform for American companies exploring business opportunities in Bangladesh.
He said AmCham had played a key role over the past three decades in strengthening bilateral commerce by connecting US investors with Bangladesh’s private sector and facilitating technology and knowledge transfer.
He added that American companies had made significant contributions to Bangladesh’s economic growth and industrial development through investments in sectors including energy, the digital economy, aviation, healthcare and garments.
Loading...