Bangladesh’s Industries Minister Amir Hossain Amu has invited Indian investors to reap the benefits of Economic Zones (EZs) provided by the Government of Bangladesh and invest in the country.
Speaking at an international convention ‘Advantage Assam’ held in Guwahati, Assam, on February 3, 2018, the Minister particularly called out to north-eastern investors in India to invest in Bangladesh, reads a handout of Bangladesh’s Press Information Department.
India’s Prime Minister Narendra Modi inaugurated the two-day convention of investors.
“Bangladesh is setting up 100 Special Economic Zones for local and foreign investors. The Government is offering special incentives and facilities for the investors,” Amu said.
He added that Bangladesh prioritises the relationship it has with India and hopes that investors would exploit the bilateral economic opportunities opened up during a “recent overhaul of bilateral relations” following prime minister-level visits in both countries, which have flourishing garment manufacturing industries.
Notably, Bangladesh Economic Zone Authority (BEZA) is working to set up 100 EZs, both public and private, and will include garment factories, across the country by the year 2030. Media reports claim that a number of private EZs have already started production activities at units.
Additionally, Bangladesh is in an advantageous position in the transportation of goods between ASEAN region and the north-eastern states of India. Amu hopes that an economic integration would open up “game-changing” opportunities in the future.
South Asian countries are lagging behind in inter-association trade of the ASEAN. Other countries have a 25 per cent inter-regional trade, however, South Asia only has 5 per cent. There is a scope of expanding tripartite and multiparty trade business by boosting trade and investment among Bangladesh, Bhutan and Nepal, the Minister added.