UK keen to support BD's growth thru investment

The United Kingdom (UK) has shown interest in supporting Bangladesh's economic growth through increasing investment in different sectors.

During a recent high-level meeting, the two countries have discussed strategies to enhance bilateral trade and investment.

At the meeting, Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA), and UK Investment Minister Baroness Gustafsson of Chesterton CBE explored ways to expand foreign direct investment (FDI) and strengthen business ties.

Mr Chowdhury held a series of meetings with senior UK officials, leading businesses and non-resident Bangladeshis in London from March 10-13, a statement said on Monday.

"This visit reaffirms the strong and longstanding economic partnership between Bangladesh and the UK. Our discussions focused on expanding investment in both services and manufacturing sectors," Mr Chowdhury said.

"The UK's continued support to improve Bangladesh's investment climate was evident in our engagements with government officials and business leaders."

Baroness Rosie Winterton of Doncaster DBE, the UK's trade envoy to Bangladesh, has expressed strong interest in the Bangladesh Investment Summit 2025, highlighting the UK's commitment to deepening economic engagement.

Owen Jenkins, director general for the Indo-Pacific, Middle East and North Africa (FCDO), reaffirmed the UK's support for Bangladesh's economic reforms and investment-friendly policies.

Additional meetings with the Department for Business and Trade (DBT) and the Ministry of Defence focused on collaboration in industrial development, advanced technology and infrastructure projects.

Mr Chowdhury also met with top UK businesses to showcase Bangladesh's investment potential and explore new partnerships in finance, manufacturing, and technology. Key meetings included HSBC, Airbus, Dewhirst Group, Menzies etc.

As part of the "Made in the UK, Sold to the Indo-Pacific" road show, Mr Chowdhury delivered a keynote presentation on Bangladesh's investment and export opportunities.

He highlighted the country's strategic location, rapid economic growth, and emerging role as a regional production hub, drawing strong interest from UK businesses, exploring expansion in the Indo-Pacific market.

The United Kingdom, a key strategic partner, remains the top source of foreign direct investment (FDI) in Bangladesh, with an FDI stock of $2.9 billion as of FY 2023-24, the statement added.

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