Bangladesh-Malaysia Chamber
Industries minister apprised of investment prospects from Malaysia
Daily Sun Report, Dhaka
Published: 21 May 2024, 12:18 AM
Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) President Shabbir A Khan had a courtesy call on Industries Minister Nurul Majid Mahmud Humayun.
During the meeting, he apprised the minister of various promotional activities of BMCCI related to Foreign Direct Investment (FDI) and prospects of investment opportunities from Malaysia.
BMCCI’s Joint Secretary General Sifat Ahmed Chaudhuri was also present.
The BMCCI president highlighted that Malaysia is Bangladesh’s ninth largest foreign direct investor with a substantial FDI stock of US$850.98 million.
He informed the minister that BMCCI had been actively pursuing to encourage investment from Malaysia.
Shabbir A Khan said the chamber identified several technology-driven sectors where Malaysia has a leading global presence, such as the rubber sector, processed food, and semiconductor and microchip manufacturing.
He said that BMCCI recently engaged in fruitful dialogues with the SME Corporation of Malaysia during a visit of the BMCCI delegation to Kuala Lumpur.
The visit was aimed at exploring possibilities for the exchange of knowledge, expertise, and capacity-building initiatives between the SME sectors of Bangladesh.
BMCCI believes that by leveraging Malaysian expertise, Bangladeshi SMEs could enhance their capabilities and contribute to reducing the current trade gap between the two nations by entering into the marketplace of Malaysia.
The industries minister expressed his satisfaction with BMCCI’s initiatives and stated that the Ministry of Industries would provide the necessary support to empower Bangladeshi SMEs through various programmes to promote products produced by the SMEs.
To facilitate technological investment and collaboration between Bangladeshi and Malaysian tech companies, the BMCCI chief shared that he would lead a delegation to Semicon Southeast Asia 2024 - the largest international exhibition for semiconductors and microchips in the Southeast Asia region.
This platform is believed to enable Bangladesh to showcase its potential in the semiconductor industry and explore opportunities for Malaysian investors.
The minister appreciated the role of BMCCI and highlighted the importance of strengthening economic and trade ties between Bangladesh and Malaysia.
He expressed confidence that the BMCCI-led delegation to Semicon Southeast Asia 2024 would help unlock new technological cooperation and investment avenues.
Nurul Majid Mahmud Humayun requested the BMCCI leader to actively attract investment from Malaysian investors in the Special Economic Zone in Bangladesh.
Shabbir A Khan informed the minister that they were well-positioned to promote and raise awareness about the benefits of Bangladesh's Special Economic Zones which present attractive investment opportunities for Malaysian investors.
He said the chamber was also exploring possibilities of attracting Malaysian sunset industries to relocate their operations to Bangladesh.
The minister commended the efforts of the BMCCI leaders in engaging with the stakeholders in Malaysia and expressed his hopes that BMCCI’s continued initiatives would help attract more Malaysian investment to Bangladesh.