KL investment summit to help 'brand Bangladesh abroad'
Dhaka: The first-ever 'Bangladesh Trade and Investment Summit 2016', to be held in the Malaysian capital of Kuala Lumpur on December 5, will help brand Bangladesh abroad showcasing huge trade and investment opportunities it offers, said a leading business leader.
"Branding Bangladesh abroad is the most important thing at this moment. We've many things to offer and discuss for mutual benefits," chairman of the summit organising committee Syed Nurul Islam told news agency United News of Bangladesh on Friday.
Nurul Islam, also former President of Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI), said electronics, light engineering, food and allied industries are some of the potential areas for joint ventures in Bangladesh with Malaysian counterparts.
Responding to a question, the business leader said they will negotiate with the government to have a dedicated investment zone in Bangladesh if Malaysian investors demand. "We'll take initiatives depending on their demand."
Nurul Islam said the land cost and bureaucratic complexities are the common complaints they used to listen from the Malaysian investors. "The government is trying but there has been no significant improvement yet due to bureaucratic tangles."
He said Bangladesh is a huge market of nearly 170 million people having over 7 percent GDP growth. "To me, Bangladesh is a country of ample opportunities."
The business leaders also said Malaysia can relocate their industries to Bangladesh and re-export products to various parts of the world.
Asked about one-to-one business interaction at the summit, Nurul Islam said, "We hope a number of MoUs will be signed during the summit."
The BMCCI in collaboration with the High Commission of Bangladesh in Malaysia and Bangladesh Investment Development Authority (BIDA) will host the event with the theme 'Sustainable Business: Road to Progress' at The Royale Chulan, Kuala Lumpur with a special focus on sustainable business.
The event will also be supported by Bangladesh Economic Zones Authority (BEZA), Bangladesh Export Processing Zones Authority (BEPZA), Public Private Partnership Authority Bangladesh, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and High Commission of Malaysia in Bangladesh.
The first 'Bangladesh Trade and Investment Summit 2016' will be BMCCI's flagship event to attract investment to Bangladesh, organisers said.
Commerce Minister Tofail Ahmed will attend the summit as the chief guest while State Minister for Foreign Affairs Md Shahriar Alam will be present as a special guest.
Deputy Minister of International Trade and Industry (MITI), Malaysia YB Datuk Chua Tee Yong, will remain present as the guest of honour.
BMCCI President Md Alamgir Jalil and former President Syed Moazzam Hossain will also attend.
Representatives from City Bank Limited, Green Delta Insurance Company Limited, K-Link International (Bangladesh) Limited, Robi Axiata Limited, Premier Bank Limited, BBS Cables Ltd., Design Vision Associates Limited, Well Foods Limited, Alliant and Tenaga Nasional Berhad will also take part in the summit.
With the theme 'Sustainable Business - the Road to Progress', the Summit will explore key trade and investment opportunities that exist for Bangladesh, said the organisers.
The summit will also focus on trade and investment practices, opportunities and challenges of major stakeholders - both private and public.