Business Desk :
Bangladesh High Commissioner to India Syed Muazzem Ali has urged the Indian companies to invest more in Bangladesh taking the advantage of its impressive economic growth.
“The most practical cause of action would be to set up a series of “buy-back” projects, where Indian investors will set up industries in Bangladesh and re-export to India and in some other neighbouring countries,” he told a seminar in Kolkata on Monday, reports BSS. Bangladesh Deputy High Commission in Kolkata and Merchants Chamber of Commerce and Industry (MCCI) jointly organised the seminar to celebrate Bangladesh’s graduation from LDC, according to a message received on Tuesday. Syed Muazzem Ali advised the Indian businesses to take advantage of Bangladesh’s competent labour costs and closer proximity to North-East markets.
He mentioned that several Indian mega companies like Hero-Honda, Tata group or CEAT Tire companies have already set up such projects in Bangladesh. “These are small projects, but we need much bigger investments. If we could engage in bigger projects, this will also ensure the stability of our relationship,” he added.
Expressing satisfaction at Bangladesh’s graduation from LDC Syed Muazzem said, “This achievement partly fulfils the dream of Bangabandhu Sheikh Mujibur Rahman, Father of our Nation, to transform Bangladesh into “Sonar Bangla” (Golden Bangla).”
The high commissioner said, “Under the visionary leadership of Prime Minister Sheikh Hasina, Bangladesh has done wonders during recent years since her assumption of power in 2009 for the second time. He said Bangladesh has seen a steadily upward run in almost every sector of governance, economy, politics and social uplift. “Today Bangladesh is one of the fastest growing economies in the world with a record 7.28% GDP growth. Our growth rate is expected to reach 7.65 per cent in current FY 2017-18,” he added.
He said the country which once was ridiculed as ‘bottomless basket’ is now globally considered as a ‘development-miracle’. Muazzem Ali said Bangladesh’s socio-economic achievement is a global role-model.”
