Wednesday, 27 October, 2021

BGMEA chief invites Canadian businessmen to invest in Bangladesh

BGMEA chief invites Canadian businessmen to invest in Bangladesh

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Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has invited Canadian businessmen to invest in Bangladesh and benefit from the attractive and investment-friendly environment here.

Economic viability, the purchasing power of people, demographic dividend and ecosystem are in favour of investment in Bangladesh, he added. "The country has been able to secure a prestigious position as a role model of development in the world with its consistent and remarkable economic growth and development performance."

Faruque Hassan made the remark while addressing a reception accorded to him by the Bangladesh Business Chamber of Canada in Canada recently.

HM Iqbal, president of the Bangladesh Business Chamber of Canada, chaired the programme which was also attended by Nayem Uddin Ahmed, consul general of Bangladesh Consulate General in Toronto, and BGMEA director Abdullah Hil Rakib.

Faruque also encouraged non-resident Bangladeshis (NRBs), including those living in Canada, to promote the "Made in Bangladesh" brand in their countries of residence.

The NRBs living in Canada can play an important role to promote the interests of Bangladesh, especially those holding influential positions in their countries of residence, he added.

Also, the BGMEA president highlighted the prospect of investment in potential sectors, including high value-added and non-cotton textiles.

There are high potential areas for investment in man-made fibre-based yarns and fabrics, functional fabrics like polyester, viscose, spandex, and mélange, he said.

Apart from textiles, there are huge investment opportunities in other sectors which can substitute imports and complement industries in Bangladesh like spare parts, textile machinery, even light engineering, jute, leather, pharmaceuticals, ceramics and shipbuilding. The ICT sector is also a high potential sector for investment in Bangladesh, Faruque added.