UAE-based expats plan Tk1,000 crore investment in Bangladesh

Bangladeshi expatriate investors living in the UAE have proposed investment worth Tk1,000 crore in their home country, and are set to discuss the plan with government officials in Dhaka on Tuesday.

The investors unveiled the investment plan at a press conference held at the Economic Reporters’ Forum in the capital on Monday.

Members of the Bangladesh Commercially Important Person (CIP)-Business Association hosted the press meet.

They proposed investment in digital and AI-based Islamic banking, dry food processing and packaging, e-rental services, solar panels and renewable energy, tourism, education and healthcare.

“Expatriates are not merely a source of remittances; they are partners in Bangladesh’s economy, investors and development partners,” a member of the association said.

The would discuss the investment with officials from the Bangladesh Investment Development Authority (BIDA) on 18 August, they claimed in a press release.

The investors said they could commit the proposed investment if the government ensures easier approvals, land or lease facilities, necessary infrastructure, investment protection and one-stop services.

They also sought government support to facilitate investment by non-resident Bangladeshis, including faster regulatory approvals and a more investment-friendly environment.