October 2019 \ News \ INDO-BANGLA TIES
Bangladesh PM reaches out to India Inc for investment

Bangladesh Prime Minister Sheikh Hasina ...

Prime Minister Modi and the Prime Minister of Bangladesh Ms Sheikh Hasina witnessing the exchange of MoUs at Hyderabad House in New Delhi in October, 2019. In the foreground (left) is Bangladesh High Commissioner H.E. Syed Muazzem Ali

She said that “a few statistics would further highlight strength of our economy”, citing how inflation has been reduced to 5.4 per cent, per capita income grew 3.5 times to around $2,000 in 2019 from $ 543 in 2006, foreign currency reserve rose to $33 billion, and exports grew three-fold from 2005-06 to reach $40.53 billion in 2018-2019. “With a large population, young people mostly under the age of 25 are ready to be engaged at very competitive wages. Rapid urbanisation fed by increasing consumption of electricity and burgeoning growth of middle class indicates the market potential in Bangladesh for investors.

“We are in the process of establishing 100 Special Economic Zones. About a dozen of them are ready with four allotments to three countries. A number of high-tech parks are also ready for technology and innovative enterprises. Bangladesh has offered three Special Economic Zones for Indian investors at Mongla, Bheramara and Mirsarai. Substantial investment from Indian investors in these three Indian Economic Zones in Bangladesh would help broaden our exportable base,” she said.

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