The Bangladesh Investment Development Authority (BIDA) and Novo Freight Logistics Limited, a private organisation, joined hands on Wednesday to bolster logistics support for investors, thereby enhancing the country's investment landscape.
Mohsina Yasmin, an executive member of BIDA, and Md Syed Mustafizur Rahman, the Managing Director of Novo Group, signed a Memorandum of Understanding (MoU) to this end at a ceremony at BIDA's headquarters in Agargaon, Dhaka.
The MoU outlines their commitment to work together on investment promotion, logistics cooperation, attracting investors, country branding, investment facilitation, and post-investment guidance.
Lokman Hossain Miah, the Executive Chairman of BIDA, was present at the event as the chief guest, while Yuji Ando, the country representative of the Japan External Trade Organization (JETRO), attended as the special guest.
Addressing the gathering, Lokman Hossain Miah highlighted Bangladesh's transformation into an appealing investment destination due to advancements in technology, infrastructural development, and sustained political stability over the last 15 years.
"In line with this positive trajectory, BIDA continues to offer various investment services, including One Stop Service (OSS) and post-investment care, striving to provide top-notch services to investors," he remarked, expressing optimism that the MoU would streamline investment aspects and aftercare services.
"We presently require global branding for Bangladesh, sector-specific investment guidelines, and logistical backing to attract Foreign Direct Investment (FDI) in today's challenging global market," Miah added.
Syed Mustafizur Rahman affirmed Novo Group's commitment to collaborate closely with BIDA to attract foreign investments, particularly from countries like Japan, Korea, Indonesia, Malaysia, and European nations.
Yuji Ando echoed the sentiment, emphasizing Bangladesh's status as a secure and profitable investment destination. He noted the longstanding presence of over 300 Japanese companies in various sectors within Bangladesh and highlighted Japanese investors' keen interest in expanding their investments in the country in the near future.
The MoU is set to remain operational for the next three years.
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