Welsh investors keen on Bangladesh
Star Business Report
Entrepreneurs from Wales yesterday expressed their keen interest to invest in agriculture and food processing, manufacturing, power generation and textile.
They met with Bangladeshi entrepreneurs at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka.
Dilabor Hussain, chairman of the Welsh-Bangladesh Chamber of Commerce, said the delegates are visiting Bangladesh to look for potential sectors to invest in.
“Bangladesh is a potential destination for investment. We are interested in direct investment or joint-venture investment in different sectors in Bangladesh,” Hussain said.
The Welsh entrepreneurs are interested to invest in the sectors like financial services, power generation including solar power, property development, food production, food production, linen industries, education, IT, media and printing sectors.
AK Azad, president of FBCCI, urged the visiting entrepreneurs to invest in port development, hospital and medical facilities, nursing training institute, ship-building, industrial park, agro-processing, catering institute, call centres, language training institute and special economic zones.
He said the export value of Bangladesh will be double in five years as the overseas trade of Bangladesh has been on the rise at a commendable rate over the last few years. The country exported $24 billion worth of goods last fiscal year registering more than 41 percent growth, he said.
“The Welsh entrepreneurs can take the opportunity to invest in the proposed 11 SEZs. We have a low-cost labour force,” he said.
In fiscal 2010-11, Bangladesh’s exports to the UK were $2.06 billion and import was $333.1 million. The major export items to the UK were knitwear, woven garment, frozen foods, chemical products, agro-products and jute goods.
The major import items were road vehicles, transport equipment, textile articles, manufactured metal goods, power generation machinery, special industrial machinery, and electrical machinery.
A 24-member business delegation from Wales is now visiting Bangladesh with an aim to foster trade relations between the two countries.