Bangladesh Investment Development Authority says many investment opportunities for Sri Lankan corporates in Bangladesh
Officials from Bangladesh have recently stated that there are a host of investment opportunities for Sri Lankan corporates in Bangladesh.
Bangladeshi as well as Sri Lankan officials have called for local businesses with long-term ambitions to venture into the nation of 160 million people.
According to reports, at a forum organised by NDB and titled ‘Ayubowan Bangladesh’ participants, which included the Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M. Aminul Islam and Bangladesh High Commissioner Riaz Hamidullah, as well as success stories of corporates that had ventured into the Bangladesh market, officials have highlighted the advantages of stronger Bangladesh and Sri Lankan cooperation.
“I have to thank Sri Lankan companies for having faith in us and being the first to come and invest in Sri Lanka. There are plenty of countries expressing their confidence in us now, but Sri Lanka was the first and for that, we are grateful,” Islam has been quoted as saying in the media.
He has also commented on the global changes that are paving the way for stronger engagement between South Asian countries and the common socio-cultural links that bind Sri Lankans and Bangladeshis.
Companies such as Laugfs Holdings and LTL Group have reportedly given details of their experiences in Bangladesh and highlighted the support they were given to swiftly obtain approvals and other necessities to begin their businesses, at times enabling them to withstand political uncertainty and complete projects ahead of time.
Broad swathes of Bangladesh’s economy is open for Sri Lankan investment, starting with the traditional opportunities of garments, but including many new sectors such as IT, maritime services, tourism, power and pharmaceuticals, NDB Capital Managing Director Kanti Kumar Saha has reportedly told the gathering.
The statements by the top Bangladeshi officials of the many business opportunities in Bangladesh for Sri Lankan companies is a welcome sign for many local corporations looking at expanding into other parts of the region. Given the benefits enjoyed by Sri Lankan businesses in Bangladesh, foreign investors/businesses interested in doing business in Bangladesh could look at forming partnerships with Sri Lankan companies to gain easy access to the Bangladeshi markets.
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