Hasina calls for greater investment from UAE businesses

  • Golam Mujtaba Dhruba from Dubai, bdnews24.com
    Published: 2019-11-18 02:25:22 BdST

bdnews24

Prime Minister Sheikh Hasina has urged the businessmen of the United Arab Emirates to invest more in different sectors from agriculture to IT in Bangladesh.

She made the appeal to the Middle-East businesses during a dinner hosted by the Bangladesh Embassy at Shangri-la hotel in Abu Dhabi on Sunday night.

Bangladesh has emerged as the “wonder of development” having been one of the fastest growing economies of the world, the prime minister told her audience.

There is a “huge potential” of mutual trade and investment between Bangladesh and the UAE along with opportunities for mutual collaborative engagements, she said.

She noted that deals were signed on establishment of port, industrial park, power plants, LNG terminal and supply, and investment in the economic zones during her visit to the UAE in February.

As the trade between the two countries is growing, and her government has taken initiatives to lure foreign investments in economic zones, special economic zones and high tech parks, the UAE businesses can diversify their investment further, Hasina said.

She identified agriculture, food processing, readymade garments, infrastructure building, constructions, communication, energy, IT, shipbuilding, tourism infrastructure, light engineering, industrial park and logistics hub as the sectors where the UAE entrepreneurs may invest.

The prime minister also highlighted Bangladesh’s “liberal investment policy”, including protection of foreign investment by law, tax holiday, concessionary duty on import of machinery, unrestricted exit policy, full repatriation of dividend and capital on exit.

Foreign Minister AK Abdul Momen, and Bangladesh Ambassador Muhammad Imran, among others, also spoke at the event.

Hasina travelled to the UAE on Saturday and watched the 2019 Dubai Airshow on Sunday.

She is expected to return home on Tuesday after witnessing the signing of a number of deals.