‘Investment must to sustain growth’

| Updated: February 09, 2023 21:00:25

‘Investment must to sustain growth’

Speakers at a programme on Tuesday stressed the need for more investment in the country to sustain the growth momentum.

The Canada Bangladesh Chamber of Commerce and Industry (CBCCI) organised the programme to inaugurate its Trade Expo in the city.

Commerce Minister Tipu Munshi, who was the chief guest of the programme, lauded the initiatives to organise the trade expo and said that such expo would help promoting bilateral trade.

Terming Bangladesh an ideal place for foreign investment, the commerce minister said, the government is providing a string of facilities to the foreign investors including 100 per cent profit expatriation facility.

He mentioned that the government is developing 100 economic zones where the foreign investors can set up industries and export their products.

FBCCI President Jasim Uddin said that the entrepreneurs of the country are working to develop competitiveness in the export sector to earn countries export target of $300 billion by the year of 2041.

“To reach this target we need to focus on market and product diversification’ he added.

The FBCCI president that the government has developed 100 economic zones, 28, IT parks, sector-wise cluster parks, eight export processing zones and tourism parks with access to Do utility, power and gas in competitive price in different districts to achieve the target it export volume.

He felt that as the country is moving to the next level, more local and foreign investment is required.

“Investments in greener technologies and data driven production methods in the manufacturing sectors are important to consider”

He observed informed that the Chamber is going to organise an international trade and investment promotion event titled  ‘Bangladesh Business Summit 2023’ from March 11-13 this year on the occasion of the 50th year anniversary.

The event will be inaugurated by Prime Minister Sheikh Hasina. A three-day International fair will be also held at the summit for showcase in Bangladeshi, local products and services, he added

BGMEA President Fauk Hasan said with the country’s export has set a new record last year with 54 billion dollar.

The robust growth in the apparel which helped Bangladesh achieve both international prowess and domestic prosperity did not come by chance, he noted adding that it is it has been possible mainly because of modernisation and technological of the factories over the past decade.

The industry has successfully created a strong, impressive foothold in the global value chain through unparalleled effort in workplace safety and environmental sustainability.

Today, Bangladesh is globally acclaimed as one of the safest and most environment friendly apparel manufacturing countries in the world with the highest number of green factories certified by USGBC.

Founded in 1998 CBCCI aims at accelerating business growth in both Bangladesh and Canada

Businessmen from both Bangladesh and Canada are the members of this Chamber presently headed by its President Parvez Ahmed.

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