Bangladesh is opening up to foreign investors by building hi-tech parks with local and foreign investment. One of them will be dedicated to US investors.
This information was announced by Prime Minister Sheikh Hasina at the virtual US-Bangladesh Business Council. The initiative will be crucial for further development of bilateral trade. The US remains a strong partner in Bangladesh’s journey towards democracy and development.
The following words rang out during the speech: “Bangladesh’s sustained economic growth, rapidly expanding domestic market and growing connectivity to a vast regional market of 4 billion people makes it a promising destination for American business and investment. We are constantly improving our infrastructure to facilitate foreign investment. My government is establishing 100 ‘special economic zones’ for faster industrialisation.
The United States has been a long-time development partner of Bangladesh. Bangladesh buys significant amounts of industrial raw materials and consumer goods such as cotton, soybean and wheat from the United States.
The Prime Minister further noted that while Bangladesh’s dependence on foreign aid has reduced significantly, the need for foreign direct investment has increased as the priority is to create new jobs for millions of young people.
Bangladesh is a country with great investment potential with a booming economy. A skilled and low-cost labour force consisting mainly of young people also seems attractive, as about 50% of the population is under the age of 25.
Aleksandra Zakrzewska
Source: bd24live.com.