PM offers special economic zones for US businessmen

Prime Minister Sheikh Hasina urged the US business community to invest heavily in Bangladesh's renewable energy, shipbuilding, automobiles and pharmaceuticals and reiterated proposals to have a 'special economic zone' for US investors only.

I invite you to invest in our many dynamic and promising sectors including renewable energy, shipbuilding, automobiles, pharmaceuticals, light and heavy machinery, chemical fertilizers, ICT, marine resources and medical equipment.

The Prime Minister also urged the business leaders of the United States to explore opportunities and invest in Bangladesh. He said this while delivering the keynote speech at the High Level Executive Business Roundtable titled 'US-Bangladesh Economic Partnership: Shared Vision for Smart Growth'.

The Prime Minister of Bangladesh inaugurated the US Bangladesh IT Connect portal on the occasion. The US-Bangladesh Business Council hosted the event at the Great Hall of the US Chamber of Commerce in Washington DC.

The Prime Minister expressed hope that the US-Bangladesh Business Council will play an important role in promoting trade and investment cooperation between our two friendly countries.

He said, I invite you here today to be with us as partners in our journey towards building a developed, prosperous and smart Bangladesh by 2041.

He said Bangladesh is currently establishing 100 special economic zones and 29 hi-tech parks in different parts of the country.

The Prime Minister reiterated Bangladesh's most liberal investment policy in the region, saying Bangladesh has foreign investment protection, tax holiday, royalty remittance, unhindered exit policy, dividend and full repatriation benefits by law.

He assured that we are giving top priority to improve our investment environment.

In this context, he said, Bangladesh Investment Development Authority is implementing the 'Bangladesh Investment Climate Development Programme'. United States can be Bangladesh's strongest partner. The US is currently our single largest export destination, the largest source of foreign direct investment, a long-standing development partner and an important source of training and technology.

He said, our common goal is to achieve mutual benefit and prosperity for our people. This is reflected in our growing bilateral trade and people-to-people relations. In 2021-2022, Bangladesh exported goods worth US$ 10.42 billion and imported goods worth US$ 2.8 billion.

Mentioning the example of Japan's proposal to build an industrial center in Bangladesh in the coastal region, he said, therefore, our aim now is to promote economic and commercial relations with regional and global partners including the United States.

The Prime Minister said that Bangladesh has achieved significant socio-economic growth in the last 14 years with the efforts of the government. Bangladesh is now universally recognized as a role model of socio-economic development.

He said, this has been possible due to continuity of good governance, rule of law and stability, investment in rural economy, women empowerment and progress in ICT sector which has taken us on the path of achieving Digital Bangladesh.

He said, our goal is to build a smart Bangladesh by 2041. This vision will make Bangladesh a high income developed country by 2041.

Prime Minister's ICT Advisor Sajib Wazed, Minister of State for Power, Energy and Mineral Resources Nasrul Hamid, US-Bangladesh Business Council Board of Directors and Chairman Accelerate Energy Steven Cobos, Boston Consulting Group Global Chair Emeritus (BCG) Hans-Paul Berkner, Mastercard's Global Public Policy And Indo-Pacific Policy Operations Senior Vice President Ravi Arora, Founder and Chief Executive Officer of BKash Kamal Kadir, Chevron Bangladesh President and Managing Director Eric Walker and Global Head of Exploration and News ExxonMobil Venture Dr. John Ardill spoke at the roundtable.

US-Bangladesh Business Council President and US Chamber of Commerce Senior Vice President-South Asia Ambassador Atul Keshap delivered the welcome address.

In addition, the Minister of Foreign Affairs. AK Abdul Momen, Planning Minister MA Mannan and Prime Minister's Adviser on Private Industry and Investment Salman Fazlur Rahman, Boeing India and South Asia President Shail Gupta, US Soybean Export Council South Asia Head Kevin Ropeke were present as chief guests.

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