In a compelling call for collaboration, Prime Minister Sheikh Hasina of Bangladesh extended an invitation to South African entrepreneurs to invest in her nation’s ambitious journey towards becoming a trillion-dollar economy and a fully developed smart nation by 2041. Speaking at the Bangladesh Trade & Business Summit in South Africa, the Prime Minister emphasized the country’s progress toward prosperity and extended a warm welcome to potential investors. She assured that investment in Bangladesh is secure, underpinned by consistently high returns and a business-friendly atmosphere.
Bangladesh’s commitment to facilitating business operations was emphasized, backed by organizations such as the Bangladesh Investment Development Authority and the Bangladesh Securities and Exchange Commission. The Prime Minister outlined the burgeoning opportunities in Bangladesh’s capital market and the country’s proactive approach to long-term financing in the era of the Fourth Industrial Revolution.
Prime Minister Hasina underscored the open Foreign Direct Investment policies in Bangladesh, particularly noting the allowance for 100 percent foreign ownership, liberalized industrial policies, a 15-year tax exemption, and streamlined services. The Prime Minister highlighted the underexplored potential of bilateral trade between Bangladesh and South Africa, expressing optimism about enhanced collaboration, especially in sectors like ICT, electronics, textiles, tourism, and heavy industry.
She thanked the significant Bangladeshi population in South Africa for their contribution to the economy and urged further investments. Plans for a joint business forum between key business chambers of Bangladesh and South Africa were also revealed.
Prime Minister Hasina stressed that the heart of Bangladesh’s strength lies in its people, especially its skilled youth population. She acknowledged South Africa’s growing urbanization and economic growth as favorable conditions for expanding Bangladesh’s exports, particularly in sectors like textiles, ready-made garments, pharmaceuticals, and agriculture.
The Prime Minister highlighted Bangladesh’s ‘Look Africa’ policy and its exploration of diplomatic and economic avenues on the continent. She revealed Bangladesh’s pursuit of natural resources and raw materials from African nations to fuel its growing industries.
Concluding her address, Prime Minister Hasina expressed confidence in Bangladesh’s progress and commitment to the path of the Fourth Industrial Revolution. Her visionary appeal underscored the mutual benefits of a strong partnership between Bangladesh and South Africa, fostering shared growth and prosperity.
