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U.S. entrepreneurs keen to join Bangladesh growth story

U.S. entrepreneurs keen to join Bangladesh growth story

Entrepreneurs of the United States have expressed their interest to be a part of Bangladesh's development and private sector transformation. They expressed their spirit of collaboration on Monday while having a meeting with Bangladeshi business and the Bangladesh government at the US-Bangladesh Business Summit jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and US-Bangladesh Business Council, said a press release.

FBCCI hosted the largest and historic business delegation from the United States to have come to Dhaka. Members of a high-level US industry delegation that is visiting Dhaka attended the conference.

The event was presided over by Commerce Minister Tipu Munshi who noted that “Now is the Golden Time for investment in Bangladesh.”

The Minister urged U.S. businessmen to invest in Bangladesh and build strong commercial and strategic relations between the United States and Bangladesh.

Mentioning some of the mega projects including Dhaka-Chattogram Elevated Expressway, Dhaka-Chattogram High Speed Train, Marine Economy, Hi-Tech Park, 100 economic zones across the country, FBCCI President Md Jashim Uddin said that, USA should choose Bangladesh as their next investment destination. He said the Bangladesh government is providing various benefits including tax exemption and duty draw back for foreign investors.

USA entrepreneurs may consider renewable energy, LNG terminal, inland container depot, warehouse and cold chain, automobile, hotel and hospitality, banking and insurance as potential sectors for investment in Bangladesh, the FBCCI chief added.

Speaking on the occasion, Chevron's Vice President for Business Development and Mission Lead of the Trade Delegation Jay R Prior said that Bangladesh has made remarkable economic progress across adiversity of sectors. He noted that 100 percent electrification and energy development is key to Bangladesh’s success. Additionally, he remarked on the importance of companies in the U.S. to partner with Bangladesh to develop a Bangladesh of the Future.

In achieving Bangladesh's Vision 2041, he said, U.S. business are keen to strengthen bilateral ties which is why he is leading this 30 executive US executive business delegation to see the new and transformed Bangladesh.

Sidhanta Mehra, director of the U.S.-Bangladesh Business Council, said the magnitude of the trade delegation efforts is a reflection of the importance that U.S. business has put on Bangladesh. He encouraged U.S. and Bangladeshi businessmen to work together to advocate for continued support for investors in Bangladesh.

A Memorandum of Understanding (MoU) was signed between the FBCCI and the U.S.-Bangladesh Business Council to enhance bilateral trade at the first U.S.-Bangladesh Business Summit.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu delivered the vote of thanks.