Tofail\\\'s sales pitch to attract Korean investments

Commerce Minister Tofail Ahmed urged the entrepreneurs of the Republic of Korea (ROK) to invest in Bangladesh cashing in on a host of incentives Dhaka offers to foreign investors.

He also called upon the Korean entrepreneurs to visit Bangladesh and see the prevailing investment friendly environment in the country.

The minister was speaking at a roundtable titled "Korea-Bangladesh Joint Business" organised by Korean Federation of Small and Medium Investment and Korea Trade Investment Promotion Agency in Seoul on Friday.

Mr Ahmed held meeting with the President and Chief Executive Officer (CEO) of Korea Trade- Investment Promotion Agency (KOTRA) Young Ho Oh.

He informed the top brass of KOTRA that Bangladesh is offering a set of facilities that include tax-free import of capital machinery, bank loan and others.  

He called upon the Korean entrepreneurs to grab that offer through the Board of Investment (BoI) and invest in textiles and RMG, infrastructure development, manufacturing of electric materials, exploration of natural gas and oil, ship building, leather processing, jute goods production and bicycle industry sectors.    

"We believe that the foreign investors will invest in the country by accepting lucrative offers being offered by the government," he said.   

The president and CEO expressed satisfaction over the ongoing economic development of Bangladesh. He assured the commerce minister of further Korean investment in Bangladesh.

The bilateral trade between the two countries has been increasing over the last few years. The country's export to ROK will increase further as it has given duty free facility on 4,802 Bangladeshi items.  

Bangladesh exported goods worth $344.81 million to Korea while imported goods from Korea worth $1199.2 million during the sfiscal year (FY) 2013-14. The $854.39 million balance of trade is tilting in favour of Korea.   

The commerce minister left Dhaka on September 20 last to Seoul to take part in 'Korea Foundation Programme' in the Republic of Korea (ROK). He is expected to return home on September 28, according to the

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