UNB, Kuala Lumpur :
Bangladesh here on Friday urged Malaysian investors to take up new investment ventures in the fast growing manufacturing, services and infrastructure scoters to help Bangladesh reach the newer height of development.
Apart from investing in large infrastructure projects, including roads and power generation, Bangladesh also urged the Malaysian side to provide technological support to Bangladesh as Malaysia has developed expertise in the area.
Bangladesh officials and entrepreneurs came up with the call while addressing the inaugural session of a three-day trade show, titled ‘Showcase Bangladesh-2014’, which began in the Kuala Lumpur Convention Centre.
Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) in collaboration with Bangladesh High Commission in Malaysia, Malaysia South-South Association (MASSA), Malaysia External Trade Development Cooperation (MATRADE) and Malaysian Industrial Development Authority (MIDA) hosted the event for the third time.
Malaysian Deputy Minister for International Trade and Industry Dato Lee Chee Leong, Bangladesh High Commissioner in Malaysia AKM Atiqur Rahman, BMCCI President Nasir A Choudhury, chairman of the fair organising committee Syed Nurul Islam, former BMCCI President Syed Moazzem Hossain, BMCCI secretary general Raquib Mohammad Fakhrul and treasurer Syed Almas Kabir spoke at the inaugural session.
Speaking at the function, the Malaysian Deputy Minister said there is much that Bangladesh and Malaysia can do for further expansion of bilateral trade and investment. “Events like Showcase Bangladesh provides a good platform for us to explore the business potential,” he said.
The Malaysian Deputy Minister said his country’s investment in Bangladesh is currently concentrated on the energy and telecommunications sector. “The involvement of Malaysian companies in Bangladesh can be further expanded.”
Chee Leong said several areas like infrastructure, power generation, telecommunications, education and hospitality are identified as having potentials for Malaysian involvement and investment in Bangladesh.
“This showcase presents various opportunities to network. I urge our Malaysian and Bangladeshi businesses to make full use of the business making sessions,” he added.
Being recognised as a leader in Islamic finance and the halal industry, the Malaysian Deputy Minister invited Bangladeshis to explore opportunities in these sectors to facilitate trade and help diversify the range of products and services.
Chee Leong said Malaysia will be an ideal gateway for Bangladeshi companies wanting to expand their businesses in the region as Malaysia will assume the Chairmanship of Asean next year.
Bangladesh envoy to Malaysia Atiqur Rahman said Malaysia is among the 10 largest investors in Bangladesh but there is enough scope for further investment.
“I call upon the Malaysian investors to undertake new investment ventures in our fast growing manufacturing, services and infrastructure sectors,” he said.
Relocation of labour-intensive industries in the textile and the textile and accessories, furniture processing, agro-processing industries from Malaysia might be the most promising options while investment in the services sectors like tourism, healthcare, infrastructure like toll roads, bridges, power and gas generation would also be attractive to Malaysian investors, said the diplomat.
“Closer cooperation in investment and trade between the two countries would bring immense impact on the development of two economies,” he said adding that Malaysians will surely change its idea about Bangladesh once they visit the country.
Syed Nurul Islam said Bangladesh is close to achieving its goal to become a middle-income country. “It’s not a big challenge to become a middle-income country. Challenge is to cross the hurdle and overcome the middle-income trap to go to newer stage of development. To overcome the middle-income trap, we need support from our friends like Malaysia,” he added.
Nurul Islam, also former BMCCI president and CEO of the Well Group of Industries, said they are in Malaysia to promote and brand Bangladesh depicting its strong economy, smoother banking sector and facilities and environment for foreign investors.
He said Bangladesh is no longer a cheap labour-supplying country rather Bangladesh is the 8th largest human resource supplying country in the world. “Bangladesh is contributing to the Malaysian economy and its overall development process through its human resources engaged in various sectors in Malaysia,” the business leader said.
In 2013, total trade with Bangladesh was valued at US$ 1.67 billion, an increase of 5.7 percent from 2012.
From January to September 2014, Malaysia’s trade with Bangladesh was US$ 1.06 billion. Malaysia’s exports to Bangladesh were US$ 978.8 million while imports from Bangladesh were US$ 87.7 million. Both the countries think trade and investment value between the two countries remain relatively modest and have tremendous potential for growth.
About 60 Bangladeshi companies representing banking and insurance services, readymade garments both woven and knitted, textiles, infrastructure – ICT and Telecom and other sectors are participating in the Showcase with their products and services.
Bangladesh here on Friday urged Malaysian investors to take up new investment ventures in the fast growing manufacturing, services and infrastructure scoters to help Bangladesh reach the newer height of development.
Apart from investing in large infrastructure projects, including roads and power generation, Bangladesh also urged the Malaysian side to provide technological support to Bangladesh as Malaysia has developed expertise in the area.
Bangladesh officials and entrepreneurs came up with the call while addressing the inaugural session of a three-day trade show, titled ‘Showcase Bangladesh-2014’, which began in the Kuala Lumpur Convention Centre.
Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) in collaboration with Bangladesh High Commission in Malaysia, Malaysia South-South Association (MASSA), Malaysia External Trade Development Cooperation (MATRADE) and Malaysian Industrial Development Authority (MIDA) hosted the event for the third time.
Malaysian Deputy Minister for International Trade and Industry Dato Lee Chee Leong, Bangladesh High Commissioner in Malaysia AKM Atiqur Rahman, BMCCI President Nasir A Choudhury, chairman of the fair organising committee Syed Nurul Islam, former BMCCI President Syed Moazzem Hossain, BMCCI secretary general Raquib Mohammad Fakhrul and treasurer Syed Almas Kabir spoke at the inaugural session.
Speaking at the function, the Malaysian Deputy Minister said there is much that Bangladesh and Malaysia can do for further expansion of bilateral trade and investment. “Events like Showcase Bangladesh provides a good platform for us to explore the business potential,” he said.
The Malaysian Deputy Minister said his country’s investment in Bangladesh is currently concentrated on the energy and telecommunications sector. “The involvement of Malaysian companies in Bangladesh can be further expanded.”
Chee Leong said several areas like infrastructure, power generation, telecommunications, education and hospitality are identified as having potentials for Malaysian involvement and investment in Bangladesh.
“This showcase presents various opportunities to network. I urge our Malaysian and Bangladeshi businesses to make full use of the business making sessions,” he added.
Being recognised as a leader in Islamic finance and the halal industry, the Malaysian Deputy Minister invited Bangladeshis to explore opportunities in these sectors to facilitate trade and help diversify the range of products and services.
Chee Leong said Malaysia will be an ideal gateway for Bangladeshi companies wanting to expand their businesses in the region as Malaysia will assume the Chairmanship of Asean next year.
Bangladesh envoy to Malaysia Atiqur Rahman said Malaysia is among the 10 largest investors in Bangladesh but there is enough scope for further investment.
“I call upon the Malaysian investors to undertake new investment ventures in our fast growing manufacturing, services and infrastructure sectors,” he said.
Relocation of labour-intensive industries in the textile and the textile and accessories, furniture processing, agro-processing industries from Malaysia might be the most promising options while investment in the services sectors like tourism, healthcare, infrastructure like toll roads, bridges, power and gas generation would also be attractive to Malaysian investors, said the diplomat.
“Closer cooperation in investment and trade between the two countries would bring immense impact on the development of two economies,” he said adding that Malaysians will surely change its idea about Bangladesh once they visit the country.
Syed Nurul Islam said Bangladesh is close to achieving its goal to become a middle-income country. “It’s not a big challenge to become a middle-income country. Challenge is to cross the hurdle and overcome the middle-income trap to go to newer stage of development. To overcome the middle-income trap, we need support from our friends like Malaysia,” he added.
Nurul Islam, also former BMCCI president and CEO of the Well Group of Industries, said they are in Malaysia to promote and brand Bangladesh depicting its strong economy, smoother banking sector and facilities and environment for foreign investors.
He said Bangladesh is no longer a cheap labour-supplying country rather Bangladesh is the 8th largest human resource supplying country in the world. “Bangladesh is contributing to the Malaysian economy and its overall development process through its human resources engaged in various sectors in Malaysia,” the business leader said.
In 2013, total trade with Bangladesh was valued at US$ 1.67 billion, an increase of 5.7 percent from 2012.
From January to September 2014, Malaysia’s trade with Bangladesh was US$ 1.06 billion. Malaysia’s exports to Bangladesh were US$ 978.8 million while imports from Bangladesh were US$ 87.7 million. Both the countries think trade and investment value between the two countries remain relatively modest and have tremendous potential for growth.
About 60 Bangladeshi companies representing banking and insurance services, readymade garments both woven and knitted, textiles, infrastructure – ICT and Telecom and other sectors are participating in the Showcase with their products and services.
