Md Lutfor Rahman, Bangladesh Deputy High Commissioner-Mumbai, while addressing the Bangalore Chamber of Industry and Commerce (BCIC), invited Indian IT and education sectors to set up business in Bangladesh.
At an interactive session organised by the BCIC, he said Bangladesh is also looking at synergies in the verticals of energy, urban infrastructure, food processing, pharmaceuticals, garments and textiles.
Md Lutfor Rahmansaid: “Information Technology has made tremendous strides in Bangladesh and almost revolutionised the country’s landscape. This needs to grow further. Similarly, Bangladesh Government has identified education as a priority sector and education is subsidised for girl child up to grade 12. In both these vital sectors, Indian majors can play a big role in propelling Bangladesh’s sustained growth of 7 per cent GDP in the coming years”.
Bangladesh is now one of the most promising emerging markets in the world and foreign investors have begun to recognize this nation as a market to keep an eye on. A point in case for this statement is that Bangladesh has shown a welcoming openness towards foreign investors, allowing FDI in most sectors and providing favourable conditions for doing business.
While addressing the BCIC members he said, “Bangladesh has the most liberal investment policy in South Asia. It has favourable business environment through Government support and other investment facilities which includes protection of foreign investment by law, generous tax holiday, concessionary duty on import of machinery, remittances of royalty, 100 per cent foreign equity, unrestricted exit policy, full repatriation of dividend and capital on exit and other benefits.”
He further said: “Almost all sectors are open to FDI and Bangladesh has an enabling infrastructure in terms of communication, energy, power, ports and economic special zone to promote business.”
Over 30 companies participated in the interactive session.
Devesh Agarwal, Senior Vice President, BCIC, delivered the welcome address and said “We also have a pool of highly skilled manpower available ready and would be keen to tie up with companies based out of Bangladesh. Sectors like banking, manufacturing, services, healthcare, Information Technology, Infrastructure, in all these verticals, we have highly specialised staffing solutions to offer to Bangladesh. All we need is a specific agenda from Bangladesh and we will facilitate to operationalise it. If you can provide us a road map and we can work with the stakeholders to achieve the set goal.”