US businesses want to be part of Bangladesh's development

US business representatives have expressed their long-standing interest to be a part of Bangladesh's development and private sector transformation, reports UNB.
They expressed their spirit of collaboration with Bangladeshi business and the Bangladesh government at the US-Bangladesh Business Summit jointly organised by the FBCCI and US-Bangladesh Business Council in the city on Monday.
Members of a high-level US business delegation that is visiting Dhaka attended the summit.
At the event, the FBCCI and the US-Bangladesh Business Council also signed a Memorandum of Understanding (MoU) to enhance bilateral trade.
Speaking as the chief guest, Commerce Minister Tipu Munshi said it is the 'Golden Time' for investment in Bangladesh.
He urged US businesses to invest in Bangladesh and build strong commercial and strategic relations between the United States and Bangladesh.
FBCCI President Md Jashim Uddin mentioned some of the mega projects, including Dhaka-Chattogram Elevated Expressway, Dhaka-Chattogram High Speed Train, Marine Economy, Hi-Tech Park, 100 economic zones across the country, and said that US businesses should choose Bangladesh as their next investment destination.
He also said the Bangladesh government is providing various benefits, including tax exemption and duty drawback for foreign investors.
"US entrepreneurs may consider Renewable Energy, LNG Terminal, Inland Container Depot, Warehouse and Cold Chain, Automobile, Hotel and Hospitality, Banking and Insurance as potential sectors for investment in Bangladesh," the FBCCI chief said.
Chevron's Vice President for Business Development and Mission Lead of the Trade Delegation Jay R Prior noted that Bangladesh has made remarkable economic progress across a diversity of sectors.
He noted that 100 per cent electrification of Bangladesh and energy development in Bangladesh is the key to Bangladesh's success.
Additionally, he remarked on the importance of companies in the United States to partner with Bangladesh to develop a Bangladesh of the Future.
"In achieving Bangladesh's Vision 2041, US businesses are keen to strengthen bilateral ties which is why we are leading these 30 business executives to see the new and transformed Bangladesh."
Sidhanta Mehra, director of the US-Bangladesh Business Council, said the magnitude of the trade delegation is a reflection of the importance that US business has put on Bangladesh.
He encouraged the US and Bangladeshi business to work together to advocate for continued support for investors in Bangladesh.
Former FBCCI president Shafiul Islam Mohiuddin said trade between the two countries has risen to $9 billion annually.
Former FBCCI president Sheikh Fazle Fahim said the United States has good opportunities to invest in Bangladesh's light engineering, electrical components, Internet of Things and healthcare.
FBCCI Vice President MA Momen called on the United States to start bilateral talks to sign the CEPA (comprehensive economic partnership agreement).
DCCI President Rizwan Rahman called for transfer of US technology to Bangladesh.
He said Bangladesh is an ideal country for investment. US entrepreneurs can take advantage of Bangladesh's demographic dividend through investment.
Russell T Ahmed, President of BASIS, said that the prices of IT products in Bangladesh are comparatively lower than other countries.
He urged the US to import more IT products from Bangladesh.