FE Today Logo

Bahrain-based Investcorp to invest in Bangladesh

FE Report | April 11, 2019 00:00:00

Bahrain-based multinational financial institution Investcorp has expressed its interest to invest in Bangladesh's different sectors like infrastructure, consumer goods and technology.

A visiting delegation of the company expressed the interest at a press conference in the capital on Wednesday, concluding their two-day visit in Dhaka.

Executive Chairman of the Investcorp Mohammed Mahfoodh Alardhi, Co-Chief Executive Officer (CEO) Hazem Ben-Gacem and Managing Director for Asia operation Timothy Mattar were present.

Mr. Mahfoodh Alardhi said the company is now expanding its footprints in Asian countries, following its successful investment in North America, Europe and Middle Eastern countries.

"Few years ago, we came to the view that we cannot ignore this part of the world," he said. Admiring Bangladesh's economic achievement in the recent years and future prospects, he said: "We have met different people from the private sector to government to learn about the investment climate here."

Mr. Hazem Ben-Gacem said the company makes an investment worth approximately US$ 7.0 billion per year, but those are mostly West-centric.

Some Asian countries, including Bangladesh, are getting Investcorp's priority due to significant growth rate of Gross Domestic Product (GDP), demographic dividend and favourable government policy, he said.

"Obviously, we have to be selective where we are going to look at. Over the last two days, we met many business leaders and government officials," he added.

He also said that the company is primarily interested in making investment to Bangladesh's infrastructure, consumer goods and technology sector.

Responding to a query, Mr. Mahfoodh Alardhi said that though Bangladesh lags behind in the ease of doing business index, the country has excellent leadership, a good number of people with entrepreneurial spirit and government initiatives for facilitating businesses.

Led by the executive chairman of the company, the delegation visited Dhaka as part their annual Asia roadshow, which allows the top officials to visit countries and economies that support their expansion into the Asian markets.

[email protected]

Share if you like