Friday, April 19, 2019

Hong Kong, Singapore investors keen on venture capital investment in Bangladesh: BIDA

  • Senior Correspondent,
    Published: 2019-01-11 02:13:16 BdST


A team of investors from Hong Kong and Singapore has met the chief of Bangladesh Investment Development Authority (BIDA) and showed interest in venture capital investment, the state entity says.

They met Executive Chairman Kazi M Aminul Islam at his office in Dhaka on Thursday.

Venture capital is the capital invested in a new business or project in which there is a substantial element of risk. Young entrepreneurs who take the risk of starting a new business or startup need that initial funding.

Aminul Islam engages with all venture capital-related organisations to increase investments in Bangladesh.

He encouraged youths on several occasions to be a job-giver instead of a job-seeker to help Bangladesh become a developed country by 2041, which will require “massive transformation” to be a $3 trillion economy.

The government is working on a ‘venture capital’ mechanism to help new entrepreneurs grow.

“We should think out of the box to increase investments,” the BIDA chief said.