‘Improve business environment to attract more investment from Nordic countries’

Nordic ambassadors and businesses have suggested improving business environment for companies already operating in Bangladesh to attract more investments from Nordic countries.

“Improving the business and investment climate for the companies already present in the country will send a clear signal to others, waiting to bring their products, know-how and investment into the market,” said Swedish Ambassador to Bangladesh, Alex Berg von Linde.

Bangladesh has the potential to be a competitive and modern business destination, she said while speaking on behalf of the Nordic embassies in Bangladesh at a webinar organised by the Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh today.

“In this regard, we especially value our good and long-standing dialogue with the government of Bangladesh and its agencies and authorities on issues relating to the Ease of Doing Business in the country.”

At the event titled, Salman F Rahman, Private Sector Industry and Investment Adviser to the Prime Minister said, “Father of the Nation Bangabandhu Sheikh Mujibur Rahman’s idea of Shonar Bangla, a fairer and prosperous country, bear resemblances to the Nordic success in the creation of more equitable and robust economies.”

He mentioned that as the Prime Minister Sheikh Hasina has set the target to transform Bangladesh into a developed nation—the culmination of Shonar Bangla—by 2041, the government places the highest importance on the attraction of FDIs and diversifying export basket.

“As such, we aim to further our relations with Sweden, Denmark and Norway with focus on IT, telecom, energy, RMG and shipping.”

Sirazul Islam, executive chairman of Bangladesh Investment Development Authority, said s many as 94% respondents of a survey on Nordic businesses in Bangladesh said they are expanding their operations.

“I will urge existing Nordic investors to be our ambassadors and highlight just how profitable, comfortable and supportive Bangladesh is as an investment destination.”

IFC Senior Private Sector Specialist Miah Rahmat Ali said Bangladesh government could consider bold and evidence-based reform initiatives to ensure more predictability in regulatory service delivery and private sector related policy formulation and create a level playing field for all businesses.

NCCI President Tareq Rahman said the Nordic companies can largely contribute to the long-term sustainable growth of Bangladesh though FDI in infrastructure, sustainable agriculture, power, healthcare, telecommunication, manufacturing and finance, with particular focus on innovation and climate sustainability.


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