Bangladesh Prime Minister Sheikh Hasina has urged Indian businesses to invest in her country's infrastructure projects, manufacturing, energy and transport sectors.
During her four-day state visit to India, Hasina made the pitch to attract Indian investors to Bangladesh at a business event organised by the Confederation of Indian Industries (CII) on Wednesday.
“Bangladesh is uniquely located to export its products to North East India, Bhutan and South East Asian countries and several initiatives have been taken to increase connectivity," she said.
Speaking at the meeting of select CEOs organized by CII, the Bangladesh Prime Minister said, “I would urge Indian investors to consider possible investments in infrastructure projects, manufacturing, in energy and transport sectors. Indian investors and business houses can set up industries in Bangladesh through Buy-Back arrangements by reducing time, cost and resources.”
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She further highlighted, “Bangladesh is uniquely located to enable Indian investors to export their products to not only the Northeastern states of India, but also to Nepal, Bhutan, and to South East Asian countries".
Hasina stressed that Bangladesh has the most liberal investment regime in the region with a wide array of facilities, attractive incentive policies, and consistent reforms.
“Presently, 100 Special Economic Zones and 28 High-Tech Parks are being established for diversity of industry, employment, production and export,” she said.
She noted that for the Indian investors, two dedicated Special Economic Zones at Mongla and Mirsarai were being developed.
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“I would urge the business houses present here today to invest there. It would further pave the way to harness the goodwill of the two friendly countries, and bring economic prosperity to the region,” she stressed.
G Kishan Reddy, Minister for Development of North Eastern Region, Tourism and Culture, said bilateral trade in the recent past has witnessed a quantum jump.
"Exports from Bangladesh, for the first time, have touched USD 2 billion this year. India is now the largest export destination for Bangladesh in Asia,” he added.
The minister pointed out several sectors of potential cooperation between India and Bangladesh which include fashion fiber and design, handicraft and handloom, food processing, agro commodities, etc.
CII President Sanjiv Bajaj mentioned energy and infrastructure and how connectivity can be used for shared prosperity.
He further said India's experience with Digital India should be leveraged to sync it better with Digital Bangladesh to offer more digital and financial inclusion.
Bangladesh is a rising power in the field of ICT and companies on both sides should establish partnerships in newer technologies like nanotechnology, robotics, Internet of Things, cyber security, and AI, among others, he stressed.
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