Prime Minister Tarique Rahman said the current government is determined to ensure an investment-friendly environment in Bangladesh, adding, “Our message is very clear: Bangladesh is open for business.”
Recalling his experience of beginning his career in business before entering politics, he said he learned a simple lesson from that: investment requires confidence, predictability and the right environment for growth.
The prime minister, who is visiting New York to attend the 81st session of the United Nations General Assembly, made the remarks on Friday morning local time at a breakfast meeting with top Wall Street business leaders and investors at JPMorgan’s headquarters at 270 Park Avenue in Manhattan.
Thanking JPMorgan, the host of the meeting, and the participating business leaders and investors, the prime minister said, “I am not here as a Wall Street person; I am here as a Bangladeshi and a political leader with the responsibility of protecting the interests of the people of my country.”
He said businesspeople and investors work to protect the interests of their businesses and investors, while he works to protect the interests of Bangladesh and its people. Although the responsibilities are different, the core principle of both sides is the same: ensuring success.
The prime minister said he had presented Bangladesh’s priorities to the international community at the UN General Assembly session. Today, he said, he wanted to present directly the country’s economy and the opportunities Bangladesh offers for global business.
Tarique Rahman said Bangladesh is home to more than 18 crore people. The country has a young and hardworking population, a growing market and a strategic geographic location.
He said the world knows Bangladesh as a major manufacturing and ready-made garment hub. That is an important strength of Bangladesh and will continue, but today’s Bangladesh holds far more potential than that.
Noting that there are significant investment opportunities in energy, infrastructure, logistics, technology, digital services, climate finance, manufacturing, agriculture and healthcare, the prime minister said the government’s goal is to build a $1 trillion economy by 2034 and turn Bangladesh into a globally connected hub for manufacturing, investment and services.
He said the government is working to make Bangladesh easier, more stable and more reliable for investors to achieve this goal. Steps are being taken to simplify the regulatory system, strengthen investor protection, simplify rules, improve tax and VAT administration, make profit repatriation easier and develop infrastructure.
The prime minister said his government wants to deepen Bangladesh’s economic relationship with the United States. At the same time, he highlighted new economic arrangements with Japan and South Korea, a new partnership initiative with the European Union and stronger economic ties with China.
He said these steps are important for building closer connections between Bangladesh and the world’s major economies.
Referring to JPMorgan’s role in issuing Bangladesh’s first sovereign bond, the prime minister said it gave international investors a new reference point for Bangladesh and created an opportunity to connect the country’s capital market more closely with the global financial system.
He said investors ultimately judge a country by what happens after a speech: how predictable the rules are, how protected investment is, how efficiently capital can be transferred and how easily profits can be repatriated. These are their logical questions, he said.
The prime minister said it is the government’s responsibility to build confidence through policy and, most importantly, through effective implementation. The government wants long-term partnerships that create value for both sides, not short-term transactions.
Urging Wall Street institutions to invest in Bangladesh, the prime minister said the government wants to turn Bangladesh into a strong platform from which investors can operate in the wider regional market.
The prime minister said Finance Minister Amir Khasru Mahmud Chowdhury and Special Assistant for Investment and Capital Markets Tanvir Ghani would work closely with investors and coordinate their interests and specific issues with relevant people and institutions in the government.
He said the government’s goal is very simple: more investment, more trade, more jobs, more technology and a stronger economic partnership between Bangladesh and the United States.
Urging investors to invest in Bangladesh with confidence and build businesses on a long-term basis, the prime minister said, “We are ready to work with you, listen to you and remove obstacles where possible. I hope to see many of you in Bangladesh soon.”
Top Wall Street business leaders, investors and representatives of financial institutions attended the meeting.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report