Economy
Invest in Bangladesh’s SEZs: Foreign Minister’s Call to Indian Entrepreneurs
Bangladesh’s Foreign Minister, Dr. AK Abdul Momen, has called on Indian entrepreneurs to explore investment opportunities in Bangladesh, leveraging the favorable investment climate the nation offers. He emphasized the rapid development of the two designated Special Economic Zones (SEZs) in Mirsarai and Mongla for India, aiming to attract more investments. This appeal was conveyed during a meeting with a delegation from the Indian Chamber of Commerce (ICC) held at the foreign ministry in Dhaka. Dr. Momen expressed his contentment with the strong bilateral relationship between India and Bangladesh, highlighting the substantial growth in trade and investment witnessed in recent years.
Amid the global economic challenges posed by the Covid-19 pandemic and ongoing geopolitical tensions, Dr. Momen underscored the importance of collaborative efforts between the two countries to bolster each other’s economies. He attributed regional stability and economic growth to the effective leadership of Prime Minister Sheikh Hasina. Stressing the need for balanced bilateral trade promotion, Dr. Momen urged the removal of trade barriers, including tariffs and non-tariff obstacles, to enhance trade volume between the two nations.
The visiting Indian delegation lauded Bangladesh’s impressive socio-economic progress under Prime Minister Sheikh Hasina’s visionary leadership. They expressed their enthusiasm to engage with various business entities to foster trade and commerce, particularly focusing on sectors like healthcare, education, and power. Proposing the establishment of a BIMSTEC Chamber of Commerce to enhance trade among member states, the Indian representatives found receptive ears in the Foreign Minister, who welcomed the idea and promised support.
The Indian Chamber of Commerce, founded in 1925 with a special emphasis on promoting trade within South Asian and Southeast Asian countries, embarked on a visit to Dhaka from August 6 to August 8, 2023. During their stay, they engaged with various chambers and business establishments in Bangladesh to further bilateral economic cooperation.
Bangladesh is eager to strengthen its bilateral relations with South Korea, particularly in the realms of trade and investment, in pursuit of realizing the dream of achieving a ‘Golden Bengal,’ as envisioned by the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman.
State Minister for Foreign Affairs, Md Shahriar Alam, expressed this commitment as the chief guest at a reception commemorating South Korea’s National Foundation Day. The reception, hosted by South Korean Ambassador to Bangladesh Park Young-Sik, took place at a city hotel on Sunday evening.
During his speech, Minister Alam conveyed Dhaka’s contentment with the consistent growth in bilateral trade and investment between Bangladesh and South Korea. He highlighted the 50-year history of robust bilateral relations and expressed optimism about elevating this friendship to a deeper and more comprehensive level of collaboration.
Furthermore, Minister Alam referenced the recent meeting between Prime Minister Sheikh Hasina and President Yoon Suk Yeol on the sidelines of the G20 Leaders Summit in India, underlining the significance of such high-level engagements.
He reiterated Prime Minister Sheikh Hasina’s vision of establishing a knowledge and technology-based prosperous and intelligent Bangladesh by the year 2041.
Minister Alam also expressed gratitude for South Korea’s prompt recognition of Bangladesh as an independent state shortly after its independence on May 12, 1972.
Economy
Vietnam’s National Assembly President Attends Forum in Dhaka for Economic Collaboration with Bangladesh
Vuong Dinh Hue, the President of the Vietnam National Assembly, recently participated in an event held in Dhaka known as the ‘Forum on Policies and Laws to Foster Economic, Trade, and Investment Collaboration between Vietnam and Bangladesh.’ This significant gathering was jointly organized by the Vietnamese Ministry of Industry and Trade, the Ministry of Planning and Investment, the Vietnamese Embassy in Bangladesh, and in cooperation with key entities including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Vietnamese Business Association in Bangladesh.
The forum drew the presence of a distinguished high-level delegation from the Vietnamese National Assembly, alongside prominent figures from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Dhaka Chamber of Commerce and Industry (DCCI), and a substantial representation from businesses on both sides. Additionally, various ministries from both Vietnam and Bangladesh were represented.
During the forum, three notable business-to-business Memoranda of Understanding (MoUs) were inked. These agreements included collaboration between BMH Vietnam Company and Doreen Group Bangladesh, focusing on investment cooperation, technology transfer, and the advancement of pre-engineered steel production. Another agreement was reached between Bangladesh Vietnam Development Assistance Company and the Bangladesh Pharmaceutical Association, with a specific focus on pharmaceutical exchange. Lastly, Huong Giang Aviation Services and the Bangladesh Tourism Association came together to establish a tourism alliance, marking a significant step in enhancing tourism ties between the two nations.
As part of his official three-day tour, Vuong Dinh Hue visited the state-of-the-art facilities of Beximco Pharma in Tongi, where he received an informative presentation and toured the manufacturing facility.
Prime Minister Sheikh Hasina has reaffirmed her government’s unwavering commitment to implementing the Sustainable Development Goals (SDGs), even in the face of challenges posed by the Covid-19 pandemic, the Ukraine war, and the climate crisis. She made this declaration during a meeting with Helen Clark, Chair of the Partnership for Maternal, Newborn and Child Health (PMNCH), at the United Nations Headquarters.
As part of her commitment to healthcare services accessibility for all citizens, PM Sheikh Hasina mentioned the implementation of the National Health Sector Strategic Plan (2011-2030) and a 27% increase in healthcare sector allocations for the current fiscal year 2023-24.
Helen Clark commended Bangladesh’s exceptional progress in healthcare under Prime Minister Sheikh Hasina’s visionary leadership, citing the nation’s remarkable achievements in reducing maternal and child mortality rates and ensuring universal healthcare services.
