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Bangladesh - May 10, 2022

US entrepreneurs keen to join BD growth story

Diplomatic Correspondent: Entrepreneurs of the United States have expressed their interest to be a part of Bangladesh’s development and private sector transformation.
They expressed their spirit of collaboration on Monday while having a meeting withBangladeshi business and the Bangladesh government at the US-Bangladesh Business Summit jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and US-Bangladesh Business Council, said a press release.
FBCCI hosted the largest and historic business delegation from the United States to have come to Dhaka.
Members of a high-level US industry delegation that is visiting Dhakaattended the conference.
The event was presided over by Commerce Minister Tipu Munshi who notedthat “Now is the Golden Time for investment in Bangladesh.”
The Minister urged US businessesmen to invest in Bangladesh and build strong commercial and strategic relations between the United States and Bangladesh.
Mentioning some of the mega projects including Dhaka-Chattogram Elevated Expressway, Dhaka-Chattogram High Speed Train, Marine Economy, Hi-Tech Park, 100 economic zones across the country, FBCCIPresident Md Jashim Uddin said that, USA should choose Bangladesh as their next investment destination.

He said the Bangladesh government is providing various benefits including tax exemption and duty draw back for foreign investors.

USA entrepreneurs may consider Renewable Energy, LNG Terminal, Inland Container Depot, Warehouse and Cold Chain, Automobile, Hotel and Hospitality, Banking and Insurance as potential sectors for investmentin Bangladesh, the FBCCI Chief added.

Speaking on the occasion, Chevron’s Vice President for Business Development and Mission Lead of the Trade Delegation Jay R Prior said that Bangladesh has made remarkable economic progress across adversity of sectors.

He noted that 100 percent electrification of Bangladesh and energy development in Bangladesh is key to Bangladesh’s success.

Additionally, he remarked on the importance of companies in the United States to partner with Bangladesh to develop a Bangladesh of thefuture, he added.

In achieving Bangladesh’s Vision 2041, he said, US business are keen to strengthen bilateral ties which is why he is leading this 30executive US executive business delegation to see the new and transformed Bangladesh.

Sidhanta Mehra, director of the US Bangladesh Business Council, saidthe magnitude of the trade delegation efforts is a reflection of the importance that U.S. business has put on Bangladesh.

He encouraged US and Bangladeshi businessmen to work together toadvocate for continued support for investors in Bangladesh.

A Memorandum of Understanding (MoU) was signed between the FBCCI andthe US-Bangladesh Business Council to enhance bilateral trade at thefirst U.S.-Bangladesh Business Summit.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu delivered the vote of thanks.

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