Bangladesh has a chance of becoming an International hub
- February 18, 2023
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The economy of the country is becoming more stable and the government is becoming more open to new ideas as a compliment to the plan. Good sign indeed.
The biggest advantage of Bangladesh, when it comes to business, is its geographical location. Bangladesh is right in the middle of South and East Asia. In this economic era, it is of utmost importance that the two sides of the largest continent can trade goods fast. This is where Bangladesh comes in. Chittagong port can easily become the regional hub that connects India, Pakistan and Sri Lanka with the entire East Asia. If the proposed ‘Bay of Bengal Triangle’ gets e green signal then soon Bangladesh will become a haven for business investors.
The economy of the country is becoming more stable and the government is becoming more open to new ideas as a compliment to the plan. Good sign indeed.
Bangladesh has always been known for its basic food products, steady positive growth in economy since birth, the garments export sector and its ability to maintain terms and deadlines for any kind of international loans. These factors, if utilized wisely, will be very helpful to convince potential investors to invest in various industries.
Multiple amendments in the Financial Regulatory Acts in past couple of years have given a thrust to the economy. Except some industries like arms and ammunition manufacturing, mechanized mining, nuclear energy and mint and plantation 100% foreign investment is allowed in all industries.
The investors that have shown serious interest and invested in country are mostly from Japan, United States of America, Germany, Singapore, France, United Kingdom, China, Malaysia, Hong Kong, South Korea and India.
However local companies are not behind in highlighting the country’s economy. Companies like Pran Group, Paradise Group, Acme, Beximco Group, Navana, Islam Group, have not only shone in their local business but also have formed joint ventures with international companies over the years to bring better business for both the parties. This is likely to continue and draw attraction of more global investors.
