Commerce ministry and VCPEAB to boost venture capital, startups together

FE Team | Published: May 27, 2024 23:58:14

A five-member delegation from Venture Capital and Private Equity Association of Bangladesh (VCPEAB) led by its President Shameem Ahsan held a meeting with State Minister for Commerce Ahasanul Islam Titu at the Bangladesh Secretariat on Sunday, says a press release.
During the meeting, VCPEAB suggested enhancing the capacity of the Export Promotion Bureau (EPB) and the Business Promotion Council (BPC) by increasing their funding and capabilities, as well as organising international trade and investment seminars, B2B matchmaking, and exhibitions to help boost exports and attract foreign investments.
Nahid Afroz, Chief Executive Officer of Business Promotion Council (BPC), Ministry of Commerce; Zia Uddin Ahmed, Sr. Vice President, VCPEAB, and Chairman, VIPB Asset Management; Asif Mahmood, Vice President, VCPEAB and Managing Director, SEAF Bangladesh Ventures; Shafique-Ul-Azam, Vice President, VCPEAB and Managing Director, BD Venture Ltd; and Shawkat Hossain, Director, VCPEAB & Managing Director, Bangladesh Venture Capital Ltd; were present at the meeting.
State Minister Ahasanul Islam Titu said, "The Ministry of Commerce, Export Promotion Bureau, and Business Promotion Council (BPC) will provide comprehensive supports so that venture capital firms can attract more global investment and at the same time, the start-ups they invest in can promote their businesses in various countries."
VCPEAB President Shameem Ahsan stressed the need for strategic initiatives to foster the growth of Bangladesh's venture capital, private equity, and startup ecosystem.
"Our efforts focus on capacity building, international partnerships, and expert consulting, aiming to boost economic growth by enhancing startups' contributions to exports and job creation. Together, we can pave a prosperous path for Bangladeshi venture capital, startups and SMEs," he added.
VCPEAB works to strengthen the local startups and Venture Capital and Private Equity firms and help them become much more visible and dominant enough to compete in this era of global challenges and competition.
Other than the local members, VCPEAB is working closely with many local and foreign venture capital companies and associations to promote investments in Bangladesh.