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Standard Chartered Bank facilitates Indian investors

imagesStandard Chartered Bank in Bangladesh is facilitating Indian investors to come to Bangladesh and do business here.

We facilitate Indian businessmen by providing information on regulation, how to set up business or how to raise capital, Managing Director of Standard Chartered Bangladesh Abrar A Anwar told the Dhaka Tribune yesterday.

“We even facilitate discussion among potential investors of both the countries by setting up meetings. When I meet my colleagues in India or when I meet the Indian investors, we tell them about the business potentiality of this country,??? he added.

Citing an example Abrar said: Standard Chartered Bangladesh has successfully been able to convince Indian Exim Bank to invest in a Bangladeshi company BSRM Steel.

“Indian Exim for the first time invested with us in a project in Bangladesh. We are able to bring them here in Bangladesh,??? Abrar added.

Standard Chartered is the largest foreign bank in Bangladesh and also in India and the largest corporate houses are its major clients. Indian Exim Bank is providing US$1bn line of credit to Bangladesh government but this is for the first time, it has invested $20m in a Bangladeshi company.

Claiming that all the big Indian companies, which invested in Bangladesh are happy, Abrar said: All the big Indian companies – Asian Paints, Marico, Ceat, Airtel – are happy in Bangladesh with their investment.

“The big Indian companies under any scale are large corporations and if they could invest in other countries why not Bangladesh,??? he questioned.

Per capita income of Bangladesh has already crossed over $1,000 and any product from the fast moving consumer goods to electronics items can be sold in Bangladesh, he said.

“We should take advantage of the situation and embrace the reality that we need to provide investment-friendly environment,??? he added.

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Source: Dhaka Tribune

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