Bangladesh invites Qatar to invest, says will give 1 or more EZs

BDApparelNews Desk
23 September 2018  

State Minister for Foreign Affairs Md Shahriar Alam speaking at the seminar on ‘Foreign Direct Investment Opportunities in Bangladesh’, organised in Qatar on September 22, 2018. Photo: Bangladesh embassy in Qatar

State Minister for Foreign Affairs Md Shahriar Alam speaking at the seminar on ‘Foreign Direct Investment Opportunities in Bangladesh’, organised in Qatar on September 22, 2018. Photo: Bangladesh embassy in Qatar

Bangladesh has invited Qatar to invest in in the country and take advantage of its liberal investment policies; assuring them that the Government will give them one or more of its Economic Zones which they can use and develop according to their own desire.

State Minister for Foreign Affairs Md Shahriar Alam gave the invitation while at a seminar on ‘Foreign Direct Investment Opportunities in Bangladesh’ at Ritz Carlton Hotel in Doha, Qatar, on September 22; organised by Bangladesh Forum Qatar and Qatar Financial Centre.

The junior minister cited few examples of global thinktanks and research organisations which made positive statements about the consistent economic progress of Bangladesh and the country’s bright future in the global economy.

Minister Alam invited them to invest in capital market, energy, telecommunications and IT, petrochemicals, pharmaceuticals, ship building, agro-processing, human resource development, water and marine and other infrastructure projects, hi-tech manufacturing and microprocessors in Bangladesh.
Bangladesh Ambassador to Qatar Ashud Ahmed highlighted the embassy will be ready to patronise any initiative towards the development of trade and investment between the two countries. He expressed optimism that such initiative in Qatar would provide excellent platform for projecting Bangladesh’s investment potentials among the Qatari business leaders and investors. 

Chief Executive Officer of the Qatar Financial Centre, Yousuf Al Jaida commented that the seminar was an eye-opener for Qatari business leaders and prospective investors because they did not know much about Bangladesh, particualry what it can offer for the Qatari investors. He said that the seminar is a way forward to making partnership with Bangladesh. 

Head of Business of the Qatar Investment Authority (QIA) Sheikh Abdul Aziz Al Thani met the Bangladesh State Minister as well as the BIDA Executive Chairman in a separate meeting before the seminar. QIA expressed its interest to send a business delegation to Bangladesh receiving formal invitation from Bangladesh and work with BIDA to find out new avenues for Qatari investment in Bangladesh.

Bangladesh is developing 100 economic zones, seeking investment in the sector of apparel and apparel supporting industries, integrated textiles, agro and agro-processing products, leather and leather products, shipbuilding, and other infrastructural sectors.

Notably, Bangladesh’s readymade garments is its biggest export item which consistently occupies about 83 per cent of the country’s total export basket. Last fiscal 2017-18, Bangladesh shipped apparel items worth over US $30 billion – maintaining its position as the second biggest apparel manufacturer and exporter – with an aim to transform the industry to US $50 billion in value by 2021.