PM asks Koreans to invest in country's potential sectors
Tuesday, 18 May 2010
SEOUL, May 17 (UNB): Prime Minister Sheikh Hasina has invited the Korean government and entrepreneurs to invest in potential sectors such as power, oil and gas, shipbuilding, IT industry, automobiles and agro-based industry of Bangladesh.
She also asked them to build roads, highways and bridges in Bangladesh.
Addressing a luncheon meeting arranged by the Korean Chamber of Commerce and Industry (KCCI) at the conference room of Hotel Grand Hyatt Monday, the Prime Minister also called for expanding bilateral trade and increasing import from Bangladesh for reaching a fair trade balance.
KCCI Chairman Kyung Shik Sohn also spoke on the occasion.
"We invite you to set up power plants, explore oil and gas, and build roads, highways and bridges," the Prime Minister said citing the example of the Bangabandhu Bridge on the Jamuna river that was built by Korean company Hyundai.
She said since the establishment of diplomatic ties, 37 years ago, trade and investment became the two important pillars of Korea-Bangladesh relation.
Hasina said the two-way trade between the two countries crossed the billion-dollar mark in 2008 with the balance heavily in favour of Republic of Korea (ROK).
"Indeed, Korean products are popular in Bangladesh because of their high quality," she said.
As of March 2010, investment proposals from Korea worth US$ 682 million were registered with the Board of Investment (BoI).
The Prime Minister told the Korean businessmen that her government was determined to raise the annual growth rate to 8.0 per cent by 2014.
"The good news is Bangladesh is today listed among the next eleven promising economies. Recent rating by S & P and Moody's also place Bangladesh above all South Asian nations, other than India."
Bangladesh is also transforming itself into a regional hub by promoting road, railway connectivity with countries in and neighboring regions, she said.
The Prime Minister said at present, Bangladesh is working to establish operational road and railway connectivity with India, Nepal and Bhutan. Bangladesh is also working to develop road connection with China and South Asian countries, via Myanmar.
Mwanwhile, Bangladesh and South Korea have signed a Memorandum of Understanding (MoU) on Environmental Protection on Monday.
The MoU was signed when Environment Minister of Republic of Korea Lee Maa Nee met the Bangladesh Prime Minister Sheikh Hasina at her hotel suite in the afternoon, said Press Secretary to the Prime Minister Abul Kalam Azad.
From the Bangladesh side, the MoU on environmental protection was signed in advance by the State Minister for Environment Dr Hasan Mahmud in Bangladesh.
Welcoming the MoU, the Prime Minister said the MoU will lead to many concrete projects on environment protection.
Terming climate change as a global concern, the Prime Minister said Bangladesh is among countries most vulnerable to climate change as it is located in a low lying deltaic region subject to monsoon rainfall, floods and cyclones.
She told the Korean Minister that Korea can help Bangladesh tackle climate change with green technology for development of renewable energy sources like solar, wind and hydro-electricity, waste management, and cleaning river water of pollutants.
She also asked them to build roads, highways and bridges in Bangladesh.
Addressing a luncheon meeting arranged by the Korean Chamber of Commerce and Industry (KCCI) at the conference room of Hotel Grand Hyatt Monday, the Prime Minister also called for expanding bilateral trade and increasing import from Bangladesh for reaching a fair trade balance.
KCCI Chairman Kyung Shik Sohn also spoke on the occasion.
"We invite you to set up power plants, explore oil and gas, and build roads, highways and bridges," the Prime Minister said citing the example of the Bangabandhu Bridge on the Jamuna river that was built by Korean company Hyundai.
She said since the establishment of diplomatic ties, 37 years ago, trade and investment became the two important pillars of Korea-Bangladesh relation.
Hasina said the two-way trade between the two countries crossed the billion-dollar mark in 2008 with the balance heavily in favour of Republic of Korea (ROK).
"Indeed, Korean products are popular in Bangladesh because of their high quality," she said.
As of March 2010, investment proposals from Korea worth US$ 682 million were registered with the Board of Investment (BoI).
The Prime Minister told the Korean businessmen that her government was determined to raise the annual growth rate to 8.0 per cent by 2014.
"The good news is Bangladesh is today listed among the next eleven promising economies. Recent rating by S & P and Moody's also place Bangladesh above all South Asian nations, other than India."
Bangladesh is also transforming itself into a regional hub by promoting road, railway connectivity with countries in and neighboring regions, she said.
The Prime Minister said at present, Bangladesh is working to establish operational road and railway connectivity with India, Nepal and Bhutan. Bangladesh is also working to develop road connection with China and South Asian countries, via Myanmar.
Mwanwhile, Bangladesh and South Korea have signed a Memorandum of Understanding (MoU) on Environmental Protection on Monday.
The MoU was signed when Environment Minister of Republic of Korea Lee Maa Nee met the Bangladesh Prime Minister Sheikh Hasina at her hotel suite in the afternoon, said Press Secretary to the Prime Minister Abul Kalam Azad.
From the Bangladesh side, the MoU on environmental protection was signed in advance by the State Minister for Environment Dr Hasan Mahmud in Bangladesh.
Welcoming the MoU, the Prime Minister said the MoU will lead to many concrete projects on environment protection.
Terming climate change as a global concern, the Prime Minister said Bangladesh is among countries most vulnerable to climate change as it is located in a low lying deltaic region subject to monsoon rainfall, floods and cyclones.
She told the Korean Minister that Korea can help Bangladesh tackle climate change with green technology for development of renewable energy sources like solar, wind and hydro-electricity, waste management, and cleaning river water of pollutants.