Bangladesh is being recognized as an attractive destination for investments, as stated by Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC). He made this announcement during his keynote speech at a seminar titled “Capital Market for Sustainable Finance,” organized by the Bangladesh Merchant Bankers Association and held at the Commerce Building of Dhaka University on Thursday, October 5. The seminar’s chief guest was Dr. Hasan Mahmud, the Minister of Information.
Professor Shibli Rubayat-Ul-Islam emphasized that Bangladesh holds a significant geopolitical position and has made remarkable progress in terms of GDP growth, which has garnered global interest. He highlighted the shift in perception towards Bangladesh, indicating that it has become an attractive destination for international partners and investors.
Professor Shibli Rubayat-Ul-Islam has projected that Bangladesh is on the cusp of an economic renaissance in the coming five years. He made this optimistic statement despite the recent economic challenges posed by the COVID-19 pandemic and the conflict between Ukraine and Russia. These factors have contributed to a sluggish pace of economic growth. Professor Shibli Rubayat-Ul-Islam acknowledged the current tension in the run-up to elections but emphasized that the nation is poised for a bright economic future.
He elaborated on the situation, stating that Bangladesh is facing a labor crisis in the garment industry, with 42% of the workforce reduced in a country of 17 crore people. Furthermore, there is a shortage of laborers for rice harvesting. However, despite these challenges, he expressed confidence that Bangladesh is on the brink of a significant economic upturn.
Professor Shibli Rubayat-Ul-Islam emphasized the importance of investment and urged individuals to be attentive to investment opportunities during these promising times.
In a recent statement, the head of the Securities and Exchange Commission of Bangladesh emphasized the country’s impeccable track record in repaying loans, highlighting that Bangladesh has never failed to meet its debt obligations. Looking ahead, the nation’s objectives include the Sustainable Development Goals (SDGs), the Vision 2041 plan, and the Delta Plan. Achieving these goals, however, necessitates a staggering $965 billion in funding, a sum that cannot be solely generated from domestic resources.
To bridge this substantial financial gap, cooperation between the money market and capital market is imperative. While domestic investments are expected to contribute around $450 billion, the remaining funds must be attracted from foreign sources.
The Chairman of the Securities and Exchange Commission stated that Bangladesh’s business and trade sectors have been performing well in recent years, offering attractive returns on investments. He urged domestic investors to seize investment opportunities during the Investment Week, with a desire for more local investments. Additionally, he encouraged foreign investors to learn more about Bangladesh, as investing in the country can yield favorable returns.
Professor Shibli Rubayat-Ul-Islam also highlighted the significant potential of the African market, with its population of over one billion people and vast agricultural lands. African entrepreneurs expressed interest in collaborating with Bangladesh in the agro-based industry. He mentioned that Bangladesh’s development model serves as a role model for them. Thus, opportunities for trade and investment between Bangladesh and Africa are expected to grow.
Regarding capital raising, he mentioned that Bangladesh has been working on issuing Green Bonds, Blue Bonds, and Islamic Sukuk Bonds to facilitate capital raising in business and trade. These bonds have already attracted billions of Taka in investment, and their popularity is expected to rise in the future.
