Bangladeshi envoy invites KCCI to explore investment opportunities in Bangladesh

March 10, 2023 (MLN): Stressing the need to enhance trade and investment cooperation, Deputy High Commissioner of Bangladesh S. M. Mahbubul Alam asked the Karachi Chamber to send a business delegation to Bangladesh to explore trade and investment opportunities in the 35th largest economy of the world which offers all the required facilities and infrastructure along with special incentives to foreign investors.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI), the Bangladeshi envoy informed that 100 Special Economic Zones (SEZs) were being established all over Bangladesh with the aim of promoting investment and accelerating economic growth through increased and diversified industrialization, employment, production, and exports.

“We have a lot of potentials to work together so we must make collective efforts for the economic prosperity of the two brotherly countries”, he added.

President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Zia ul Arfeen and KCCI Managing Committee Members were also present on the occasion.

Bangladeshi Deputy HC further stated that Bangladesh and Pakistan have been enjoying excellent economic relations which have been expanded with the passage of time but there were challenges that have to be efficiently tackled through collective efforts.

“When Bangladesh came into existence, it had zero foreign reserves and most of the food items were being imported but now the country holds impressive foreign reserves of $48 billion and it was not importing any food items as all the foodstuff for the population was being produced locally within the country and we have become self-sufficient”, he said, adding that under vision 2041, Bangladesh intends to become a developed and smart nation.

Mahbubul Alam informed that foreign investors from Japan, China, India, and South Korea have already established production units in Bangladesh, hence, the Pakistani business community must also come forward to benefit from the situation.

“Bangladesh is a country which is, particularly, focused on quick troubleshooting of any issue being faced by foreign investors, and most of such issues are resolved in just a single sitting which is very encouraging for foreign investors. We always welcome our foreign friends for improvement of the economy and creation of a maximum number of employment opportunities.”

Commenting on concerns expressed over delays in the issuance of visas, he said that they try their best to issue visas to the members of the business community at the earliest, however, delays faced by any individual were purely due to procedures that have to adhere.

“Anyone desiring to do business with Bangladesh is issued a business visa on top priority.”

He said that Bangladesh was particularly focused on improving its literacy rate and it was undoubtedly a major achievement that the enrollment at primary schools now stands at 100 percent. “We provide free books and scholarships to millions of poor people so that everyone has access to education”, he informed, adding that in 1971, only six universities existed but now, there were 108 universities and 120 medical colleges in Bangladesh.

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