Bangladesh, Singapore explore investment cooperation

Bangladesh and Singapore have discussed expanding bilateral investment cooperation, with a focus on infrastructure development, logistics, port operations and industrial growth.
The issues were discussed at a meeting between Invest Bangladesh Authority Chairman Ashik Chowdhury and Philip Ong, charge d’affaires of the Singapore High Commission in Bangladesh, at the authority’s office in Dhaka on Sunday. 
During the meeting, Ong praised the formation of the Invest Bangladesh Authority through the merger of the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA) and Public Private Partnership (PPP) Authority.
He said the institutional reform could help provide investors with more coordinated, faster and more effective services.
Ashik Chowdhury said the initiative to consolidate and coordinate institutions could be expanded in the future, with scope to bring additional organisations under the arrangement in phases.
He said the authority aimed to improve logistics support for investors, encourage investment in solar power plants, advance privatisation, accelerate digitalisation and create a more supportive environment for industrial development.
The meeting also discussed opportunities for Singaporean investment in Bangladesh’s infrastructure and logistics sectors.
The experience and capabilities of Singapore-based global port operator PSA International were highlighted during discussions on the potential for the company to become involved in the development and operation of terminals in Bangladesh.
Ong expressed Singapore’s interest in working with the Bangladesh government to strengthen bilateral economic cooperation.
He also emphasised the importance of policy continuity, transparency and a predictable business environment in boosting investor confidence.
Both sides expressed optimism about creating new opportunities for cooperation in investment, infrastructure, logistics and industrial development.