Economy
Bangladesh aims new Investments from UK
Bangladesh has aimed for new and magnified investments from the UK in different sectors, including clean energy, ICT and agriculture.
Foreign Minister AK Abdul Momen had a meeting with Lord Karan Faridoon Bilimoria, a crossbench member of the British House of Lords and former president of the Confederation of British Industry, at his office Monday, 17 October and discussed issues of mutual interest.
He recalled their meeting in September in London when Lord Bilimoria called on Prime Minister Sheikh Hasina. Sheikh Hasina visited the UK last month to attend the funeral of Queen Elizabeth II.
The foreign minister thanked Lord Bilimoria for promoting the British curry industry, dominated by the British-Bangladeshi diaspora.
Momen requested the member of the House of Lords to use his good offices to address some of the persistent challenges faced by the industry, including visas in favor of skilled or semi-skilled workers.
Lord Bilimoria, one of the UK’s leading entrepreneurs, is scheduled to have extensive engagements with the Bangladesh business community during his visit.
Momen also recalled with deep appreciation the effective contributions of the visiting Lord’s father, Lieutenant General Faridoon Bilimoria, an Indian Army authority who commanded the 2/5 Gorkha Rifles (Frontier Force) in the Rangpur and battled valiantly during the Bangladesh War of Liberation in 1971.
Lord Bilimoria, also chancellor of the University of Birmingham, stated the minister about his proposal for academic and research cooperation between Dhaka University and his university.
Momen desired Lord Bilimoria to explore cooperation with the other local universities, including the Shahjalal University of Science and Technology in Sylhet.
They also swapped views on the developments concerning the Ukraine war and the Rohingya situation.
The foreign minister appreciated the UK for its decision to intervene in the case filed by The Gambia at the International Court of Justice in pursuit of justice and accountability for the crimes committed against the Rohingya.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
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