S'porean entrepreneurs keen to invest in textile sector
Friday, 22 June 2007
The visiting Singaporean textile entrepreneurs have expressed keen interest to invest in the country's composite textile sector.
The delegation led by Singaporean Textile and Fashion Federation (TaFf) President Benny Pua expressed this at a press conference at a city hotel Thursday, reports UNB.
"Having seen the investment potentials here and the incentives offered by the government, we've become very much encouraged to invest in Bangladesh", the TaFf president said.
The 16-member TaFf delegation met top officials of different government and private bodies like Board of Investment (BoI) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
They visited export processing zones (EPZs) and other places to explore the investment potentials in Bangladesh.
TaFf president Pua said the facilities in Bangladesh are much better, compared with those in other least developed countries (LDCs) like Sri Lanka or Cambodia.
Pua, also managing director of Singapore-based Unitex, has textile business in Sri Lanka and Cambodia as well.
TaFf Secretary General Chris Koh and local Texas Group Managing Director Syed Farhad Ahmed organised the delegation's visit as its counterpart. They were present at the press conference.
Without mentioning any specific figure of possible investment, the TaFf president said after conducting a feasibility study, the
Singaporean entrepreneurs would decide how much they would invest in Bangladesh.
Sources, however, indicated that the Singaporean businessmen might initially invest about US$ 30 million in Bangladesh. "If they find the business profitable, other Singaporean investors may follow them", a delegation member told the news agency on condition of anonymity.
He said another TaFf delegation would come in the country next month to place a formal offer to the government about the planned investment.
Meanwhile, the TaFf delegation met BGMEA leaders at its office in the city Thursday.
During the meeting, BGMEA leaders invited the Singaporean businessmen to invest in composite textile sector taking advantage of the government's various incentives and business opportunities.
In the last four days the TaFf delegation met Adviser for Finance and Commerce AB Mirza Azizul Islam, Adviser for Industries Geeteara Safiya Chowdhury, BoI Executive Chairman Nazrul Islam, BEPZA Chairman Ashraf Abdullah Yussuf, Citibank NA Chief Executive Officer (CEO) Mamun Rashid and Standard Chartered Bank CEO Osman Morad.
The delegation led by Singaporean Textile and Fashion Federation (TaFf) President Benny Pua expressed this at a press conference at a city hotel Thursday, reports UNB.
"Having seen the investment potentials here and the incentives offered by the government, we've become very much encouraged to invest in Bangladesh", the TaFf president said.
The 16-member TaFf delegation met top officials of different government and private bodies like Board of Investment (BoI) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
They visited export processing zones (EPZs) and other places to explore the investment potentials in Bangladesh.
TaFf president Pua said the facilities in Bangladesh are much better, compared with those in other least developed countries (LDCs) like Sri Lanka or Cambodia.
Pua, also managing director of Singapore-based Unitex, has textile business in Sri Lanka and Cambodia as well.
TaFf Secretary General Chris Koh and local Texas Group Managing Director Syed Farhad Ahmed organised the delegation's visit as its counterpart. They were present at the press conference.
Without mentioning any specific figure of possible investment, the TaFf president said after conducting a feasibility study, the
Singaporean entrepreneurs would decide how much they would invest in Bangladesh.
Sources, however, indicated that the Singaporean businessmen might initially invest about US$ 30 million in Bangladesh. "If they find the business profitable, other Singaporean investors may follow them", a delegation member told the news agency on condition of anonymity.
He said another TaFf delegation would come in the country next month to place a formal offer to the government about the planned investment.
Meanwhile, the TaFf delegation met BGMEA leaders at its office in the city Thursday.
During the meeting, BGMEA leaders invited the Singaporean businessmen to invest in composite textile sector taking advantage of the government's various incentives and business opportunities.
In the last four days the TaFf delegation met Adviser for Finance and Commerce AB Mirza Azizul Islam, Adviser for Industries Geeteara Safiya Chowdhury, BoI Executive Chairman Nazrul Islam, BEPZA Chairman Ashraf Abdullah Yussuf, Citibank NA Chief Executive Officer (CEO) Mamun Rashid and Standard Chartered Bank CEO Osman Morad.