ABU DHABI (UAE), March 10, 2022 (BSS) - Prime Minister Sheikh Hasina today

urged the United Arab Emirates (UAE) business community to invest largely in
Bangladesh Special Economic Zones and high-tech parks particularly in
readymade garments (RMG), leather, jute, food, ICT and ITES (IT Enabled
Services).

"Our financial markets are now ready to support advanced private equity and
fin-tech solutions. The Digital Bangladesh that we had aspired for almost
twelve years ago - is now a reality. I, therefore, invite you to come and
partner with us," she said.

The prime minister was addressing the Joint Business Council (JBC) organised
by the business communities of Bangladesh and UAE at the Virtual Meeting Room
in the place of her residence here.

Spelling out various measures taken by her government to create a conducive
environment for foreign investments, she said, "I assure you all that
Bangladesh is now a land of lucrative opportunities."

The premier said Bangladesh is moving fast in urbanization,
industrialization, and in increasing tele-density to connect individuals to
governance, innovation and markets.

"Our aim is to connect our factors of production seamlessly into the global
markets," she said.

She also said that Bangladesh offers a huge domestic market of more than 168
million people, adding, "Our population is young, energetic, and ambitious."

She said Bangladesh's disposable income is rising faster than many comparable
countries for her government's deep and wide innovations in agriculture and
extension, productivity and remittance.

 The Business Forum was held at the DP World pavillion in the Dubai 2020 expo venue.

Foreign Minister Dr AK Abdul Momen, Commerce Minister Tipu Munshi, Prime Minister’s Private Industry and Investment Affairs Adviser Salman F Rahman, UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi, FBCCI President Jasim Uddin,  Chairman of the UAE Federation of  Chambers of Commerce and Industry Abdulla Mohamned Al Mazrouei also spoke on the occasion.

Later, an MoU was signed between the FBCCI and the UAE Chambers to establish a Joint Business Council between the two countries.

FBCCI President Jasim Uddin,  Chairman of Abu Dhabi Chamber of Commerce and Industry Abdulla Mohammed Al Mazrouei signed the MoU on behalf of their respective sides.

Sheikh Hasina continued that Bangladesh has a great geo-strategic location, 
and direct connectivity to all major international trading and shipment 
routes. 

"We are also at the junction of the populous and growing South Asian, 
Southeast Asian and East Asian regions. Interestingly, our huge domestic 
market and the markets adjacent to us are virtually untapped," she said.

The premier said that all these advantages make Bangladesh an attractive 
destination for investors, and a future manufacturing, and economic hub of 
the region. 

Noting that our principle policy and position are "Friendship to all, malice 
towards none," she said, "This has insulated us from anything which might 
affect our free-market enterprise and a liberal economic order."

The premier said today Bangladesh is one of the top-most RMG manufacturers in 
the world. 

"We are good in leather, eco-friendly jute and jute derivatives, food and 
above all, in ICT and in ITES (IT Enabled Services)," she said.

Bangladesh also enjoys full-spectrum coverage by high-speed internet, she 
said, adding that Bangladesh has more than six hundred and fifty thousand 
full-stack freelance developers. 

Sheikh Hasina said it is important to mention Bangladesh's labor force which 
is hardworking, affordable and quick learners. 

"Our Special Economic Zones and our High-Tech parks are ready for new 
ventures. We are ready with both policy and infrastructure support to assist 
that investors, choosing to make Bangladesh their home, to find only the best 
in the world," she said.

The mega projects like the Padma Multipurpose Bridge, Rooppur Nuclear Power 
Plant, Karnaphuli Tunnel, Payra Seaport, Matarbari Power Plant and Deep-Sea 
Port, Dhaka Metro Rail, Elevated Expressway Project and so on, are 
transforming the infrastructure of Bangladesh, she also said.

The projects significantly connect Bangladesh's geographic space into the 
economic space of the South and the Southeast Asian transport and 
connectivity corridors, she added.

"We are now intensifying our connectivity into multiple layers of food, 
finance and energy security," she said.

She continued the political stability in Bangladesh means that investors can 
plan for long term as there is also no limitation on foreign ownership of 
business.

"Moreover, Bangladesh possesses a healthy foreign currency reserve. Also, 
investors are free to repatriate their profits. Indeed, Bangladesh's 
sovereign rating is rising fast," she said.

The premier said she is proud to declare that her government has mobilized 
the power of women, and they (women) are on equal footing with men in all 
spheres of life.

The women are equal partners with men in making decisions and executing them, 
she added.
 
"Gender mainstreaming has become a force multiplier in all our endeavors. We 
are firmly committed to the realization of the SDG 2030. We are eager to join 
hands with you to help our disadvantaged friends across the globe in 
realizing them," she said.

Trained human resources, managerial and administrative service providers, and 
ICT developers give us the strength to join our hands with you wherever in 
the world, she said.

Bangladesh has been one of the very few economies in the world that grew even 
during the pandemic, she added.

The premier continued that Bangladesh's sustained growth has been made 
possible by clear vision, prudent planning, sound governance, political 
stability, and tireless efforts of our hard-working people and spirited 
entrepreneurs.

"Today, Bangladesh has emerged as a 'Development Miracle'" she said.

The Centre for Economics and Business Research (CEBR) predicts that 
Bangladesh will become the 24th largest economy of the world by 2036, she 
added.

Sheikh Hasina pointed out that Bangladesh's equitable and inclusive 
"development model" has laid a solid foundation to further develop. 

"We are on way to turn our US$ 416 billion economy into one of the largest 
economies of the world soon. Our target is to become a developed country by 
2041 " she said.