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President seeks more FDI

President Abdul Hamid cuts a cake marking the golden jubilee celebrations programme of the Foreign Investors’ Chamber of Commerce and Industry in Dhaka on Saturday. FICCI president Rupali Chowdhury, Youngone Group chairman and chief executive officer Kihak Sung, Centre for Policy Dialogue distinguished fellow Debapriya Bhattacharya and Standard Chartered Bank chief executive officer Jim McCabe are also seen. — New Age photo

President Abdul Hamid cuts a cake marking the golden jubilee celebrations programme of the Foreign Investors’ Chamber of Commerce and Industry in Dhaka on Saturday. FICCI president Rupali Chowdhury, Youngone Group chairman and chief executive officer Kihak Sung, Centre for Policy Dialogue distinguished fellow Debapriya Bhattacharya and Standard Chartered Bank chief executive officer Jim McCabe are also seen. — New Age photo

President Abdul Hamid on Saturday (16 August 2014) urged the foreign investors and entrepreneurs to investment in Bangladesh, saying that this country could be their first investment destination because of its investment-friendly policy and existing congenial atmosphere, including political stability. ‘The government of Bangladesh is providing various facilities for foreign investment in the country . . . it is ensuring 100 per cent security to the foreign investors in Bangladesh,’ said the president while speaking at the golden jubilee celebrations programme of the Foreign Investors’ Chamber of Commerce and Industry in Dhaka.

He said apart from political stability, a very congenial atmosphere for investment is prevailing in Bangladesh. Besides, smooth supply of electricity, availability of cheap manpower, vast domestic and international market, transportation facilities, tax holiday and other incentives are currently prevailing in Bangladesh, he added.

The president said the role of investment in the national economy was very important, especially the investment in industry and productive sector helped achieve long-term sustainable development target. He said the government had been working to develop a congenial investment environment by framing an investment-friendly policy, law and amending the regulations for the expansion of local-foreign investment in Bangladesh

. As a result, foreign investment is increasing, he said, adding that the country received the highest ever $1,730.65 million worth foreign direct investment in the financial year 2012-13. Hamid said Bangladesh expected more foreign investment for its overall development. There are enormous opportunities for investment in power generation, gas and oil exploration, infrastructure development, ship-building, textile, leather industry, ICT and agriculture-based industry. ‘Foreign investors can invest in these lucrative sectors,’ he said and urged the FICCI members to extend their cooperation in this regard.

 The president highly appreciated the FICCI for its role, especially during the post-liberation period, for the development of Bangladesh economy. Since its inception in 1963, the FICCI has been playing important role in attracting local-foreign investment side by side with developing leadership in the trade and commerce, he added. Hamid hoped that the FICCI would continue to play its role for the further development of the country and its economy.

 FICCI president Rupali Chowdhury, Youngone Group chairman and chief executive officer Kihak Sung, Centre for Policy Dialogue distinguished fellow Debapriya Bhattacharya and Standard Chartered Bank chief executive officer Jim McCabe also addressed the programme.

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Source: New Age

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