Economy
PM Sheikh Hasina seeks BD-Qatar business forum for economic cooperation
Bangladesh Prime Minister Sheikh Hasina on Monday (6 March) called for forming of a joint trade and investment committee by the Bangladesh-Qatar governments.
PM said that a joint business forum would bring the two nations’ private sectors under a single platform for mutually beneficial economic alliance.
“Both nations need to reposition our ties based on a mutually beneficial economic cooperation,” she told the Doha Investment Summit titled “The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh” held at hotel St. Regis Doha.
The premier also invited a Qatari business delegation to visit Bangladesh soon and urged the non-resident Bangladeshis in Qatar to invest in Bangladesh, seeking their participation in the nation-building efforts.
She insisted that business people from Qatar look at certain thrust sectors in Bangladesh as her government remains open to investment proposals in the infrastructures and logistics sectors.
Sheikh Hasina particularly mentioned the scope for Qatari investment in the energy sector, including in renewable energy and said Bangladesh could benefit from Qatar’s expertise in offshore gas exploration and energy distribution systems.
Pointing out Bangladesh’s agricultural growth, she said it also creates scope for cooperation in agro-processing industries, with buy-back arrangements to Qatar.
In this context, PM pinned that the government has plans to set up 3 special tourism zones, where Qatar can engage in both real estate and hospitality sectors.
“Bangladesh aspires to have at least 10 Unicorns in ‘Smart Bangladesh,’ and its vibrant start-up scene is ready to draw Qatari investment,” she continued.
Additionally, Qatari investors can consider portfolio investment in Bangladesh, PM told, adding that Bangladesh Securities and Exchange Commission (BSEC) is working hard to further develop the capital markets (DSE & CSE: Dhaka Stock Exchange & Chittagong Stock Exchange).
“We’ve taken several steps to establish our bond market on a solid footing, and we are soon going to include derivative products in our capital markets,” she said.
Sheikh Hasina observed that disruptions in the international fuel market due to the war in Ukraine have pushed countries like Bangladesh into a hard spot.
“In order to meet our growing energy need, we are interested in increasing our LNG imports from Qatar,” she said, adding, “We also request Qatar to explore opportunities for further exports from Bangladesh.”
PM also said Bangladesh and Qatar are bound by strong brotherly ties and friendship, and the Bangladesh expatriate community here is an excellent bridge between the two peoples.
“I am pleased to see many Bangladesh nationals today along with the Qatari business representatives,” she added.
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.
