Tofail urges Singapore entrepreneurs to invest in Bangladesh
Thursday, 27 August 2015
Commerce Minister Tofail Ahmed on Thursday urged the entrepreneurs of Singapore to invest in Bangladesh saying they would have good returns.
The minister, while addressing the "Bangladesh: Trade and Investment Summit-2015" in Singapore, said the interested investors should contact Bangladesh High Commission in Singapore and the Board of Investment (BoI) for availing of the opportunities in the offering.
Bangladesh High Commission in Singapore organised the Summit with support from the Bangladesh Business Chamber of Singapore as well as MIDAS Touch Asia, a news agency report said.
Highlighting the special packages that the government is offering to the foreign investors, Tofail said these facilities are contributing making products competitive compared to those of the regional countries.
"The companies from developed countries can avail of these opportunities while manufacturing their goods in Bangladesh whether in the Export Processing Zones (EPZs) or outside the EPZs", he said.
The commerce minister noted that Bangladesh is offering low labour cost and utility, skilled, semi-skilled and unskilled workers, a large number of young work force, investment-friendly environment and regime and tax holiday schemes.
Besides, he said, foreign investors are allowed full ownership and full repatriation of dividend and capital upon dissolution of companies, reinvestment of dividend as new capital, repatriation of 75 percent of wages and salaries to their own countries by foreign management staff members and granting of citizenship or residence permit to foreign entrepreneurs.
Tofail further said that Bangladesh has adopted a very liberal industrial policy to attract foreign investment and 100 percent foreign equity is allowed. There is no limitation to the amount of equity by the foreign entrepreneurs.
He said the country offers the most flexible Foreign Direct Investment Policy, which already attracted investors from Asia, Europe and North America to invest in various sectors in Bangladesh.
-SS