Thursday, 9 February, 2023

HK businesses urged to explore trade potentials in Bangladesh

  • Diplomatic Correspondent
  • 30 November, 2022 12:00 AM
  • Print news
HK businesses urged to explore trade potentials in Bangladesh

Highlighting the current economic and social performances of Bangladesh, speakers at a seminar in Hong Kong encouraged the potential business people to explore the trade opportunities both in traditional and emerging sectors of Bangladesh. 

Around 60 participants from the government of the Hong Kong Special Administrative Region, Hong Kong Trade Development Council (HKTDC), representatives of various Chambers of Commerce/business bodies, different companies, SMEs, start-ups, attended the interactive seminar on Monday.

The Consulate General of Bangladesh in Hong Kong organised the event.

The seminar titled "Expanding Business and Investment Opportunities between Bangladesh and Hong Kong" at the Chinese Manufacturers’ Association of Hong Kong (CMA) was divided into two sessions. 

In the first session on “Promotion of business opportunities between Bangladesh and Hong Kong”, the Consul General, Israt Ara delivered the welcome remarks.

In her speech, Ismat Ara shed light on trade and economic cooperation between Bangladesh and Hong Kong as well as highlighted current economic and social performances of Bangladesh.

Referring to various incentives offered by the Bangladesh government for foreign investors, she encouraged the potential business people of Hong Kong to explore the business opportunities both in traditional and emerging sectors of Bangladesh. 

She also assured them of all possible cooperation and support from the consulate towards promotion of meaningful business ties between Bangladesh and Hong Kong. 

Two guest speakers - Dr Patrick Lau, Deputy Executive Director, HKTDC and Dr Wingco Lo, JP, Vice President, CMA, emphasised the exchange of high level visits between Bangladesh and Hong Kong.

Dr. Wingco expressed that a delegation from the CMA would visit to Bangladesh soon.

A promotional video on Bangladesh was played in the session. Later, a presentation on "Business and Investment Opportunities in Bangladesh" was made by Vice Consul, Md Marzuk Islam.

In the second session, Felix YC Chang, Chairman and CEO, Evergreen Products Group Limited,  Pauline Ngan, Deputy Chairman & MD, Mainland Headwear Holdings Limited, and Calvin Ngan, MD, South China Bleaching & Dyeing Factory Limited shared their experiences in doing business in Bangladesh. 

These three renowned and experienced investors highly appreciated the business friendly environment of Bangladesh and encouraged other potential investors.

They highlighted the competitive labour and production cost and other incentives prevail in Bangladesh compared with Vietnam and Cambodia. 

However, they expressed their concern regarding the delay of receiving the bond license and problem of HTS code verification and holding their containers at the port from time to time.

They sought support from the government to resolve these problems.

They also proposed for an Exclusive Economic Zone for the Hong Kong Investors like investors from other countries.

In general, all the participants appreciated the socio- economic progress of Bangladesh and thanked the consulate for the arrangement of this "timely initiative" as Hong Kong has reopened very recently.

It may be noted that due to Covid-19 related social restrictions in Hong Kong, this was the first physical event on promotion of business cooperation arranged by the consulate after more than two years.