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BSEC chief seeks investment from Japan

FE Report | April 20, 2022 00:00:00


Shibli Rubayat Ul Islam

The chairman of the securities regulator has urged Japanese investors to come forward with portfolio investments along with enhancing foreign direct investments (FDI) in Bangladesh to avail benefits ensured through regulatory measures.

The chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof. Shibli Rubayat Ul Islam on Tuesday made the plea at a seminar titled 'Capital Market Investment Opportunities for Japanese Investors in Bangladesh'.

"We are expecting portfolio investments from Japanese investors as capital returns on investments is very high here," said the BSEC chairman Prof. Islam.

As the chief guest, the BSEC chairman Mr. Islam was speaking at the seminar held at the head office of Eastern Bank Ltd (EBL) in the capital.

The EBL and Dhaka Stock Exchange (DSE) in association with Japan External Trade Organization (JETRO) organised the seminar attended by DSE chairman Md. Eunusur Rahman and Japanese Ambassador to Bangladesh Ito Naoki as special guests.

Mr. Islam said the mutual funds of Japan can invest here as the BSEC is working as business friendly regulator.

Terming Japan as the most trusted friend of Bangladesh, the BSEC chairman said Bangladesh was one of the poorest countries after its independence.

"After 50 years of independence, Bangladesh has ensured 43rd position among 200 countries in consideration of the size of gross domestic product (GDP) and the position can be 30th by 2030," said the BSEC chairman.

The chairman also said the development of other investment areas should be ensured without relying on money market which has been suffering from the burden of non-performing loans.

"I can see that the country needs alternative financings from both local and international financers as there are many rooms for investments," the BSEC chairman added.

Japanese Ambassador to Bangladesh Ito Naoki said Japanese investors should know the developments of Bangladesh and its business friendly environment.

"It will be good if the Japanese businessmen who are doing business in Bangladesh share their experiences with their fellow countrymen," Mr. Naoki said.

DSE chairman Md. Eunusur Rahman said Bangladesh is expecting more investments from Japan.

Mr. Yuji Ando, country head of JETRO, said the profits of Japanese companies are increasing in Bangladesh and Japanese investors are expecting further growth in their profits.

"Raw materials are imported to a large scale to do business in Bangladesh. The scope of business expansion will increase if raw materials become available here," Mr. Ando said.

The managing director of EBL Ali Reza Iftekar said it is an appropriate time to flourish the country's bond market.

He said EBL will continue efforts to facilitate further development of new products to be introduced in the capital market.

DSE managing director Tarique Amin Bhuiyan said the country's capital market is being diversified through introduction of new products.

"We have huge scope for further development in the capital market," Mr. Bhuiyan said.

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