Dhaka international summit to attract fresh investment to Bangladesh
A least 1,000 investors from different target countries are expected to participate in Bangladesh International Investment Summit
To attract investments from both home and abroad, Bangladesh is going to organise an international summit in Dhaka from 28-29 November.
"We are targeting 15 countries from which we expect more investment. And we will also invite other potential countries," said Sirazul Islam, executive chairman of Bangladesh Investment Development Authority (Bida).
With the support of the International Finance Corporation (IFC), the private sector lending arm of the World Bank Group, Bida will host the Bangladesh International Investment Summit (BIIS) 2021.
Prime Minister Sheikh Hasina will virtually inaugurate the event, to be held at Radisson Blu Dhaka Water Garden.
Salman F Rahman, the private industry and investment affairs adviser to the prime minister, announced at the logo and website unveiling ceremony at Bida Multipurpose Hall in the capital on Sunday.
After the event, Bida executive chairman told The Business Standard that the BIIS 2021 will promote opportunities in high-growth thrust sectors by hosting both in-person and virtual participants.
He said they will invite Japan, South Korea, Singapore, Hong Kong, China, the Netherlands, Saudi Arabia, the United Arab Emirates (UAE), India, Turkey, Thailand, Malaysia, the United States, and the United Kingdom to the summit.
"We will also invite potential investors from other African and European countries. Besides, we have invited representatives of several international organisations," he added.
He said at least 1,000 investors from different target countries are expected to participate in the conference.
Sirazul Islam said local policymakers, and investors will also participate in the summit.
"The first objective of the summit will be to highlight the business potential of Bangladesh among investors. The second objective will be to bring in foreign, domestic, expatriate, or domestic-foreign joint ventures," said Salman F Rahman.
"We have not been able to take advantage of the favourable business environment that has been created in Bangladesh in the last few years."
For the first time after its formation, Bida is going to hold such an international investment conference, where Bangladesh Economic Zone Authority (Beza), Bangladesh Export Processing Zones Authority (Bepza), Bangladesh Hi-Tech Park Authority (BHTPA), and Public-Private Partnership Authority (PPPA) will apprise of their activities.
The last investment conference was held in Bangladesh under the Bangladesh Board of Investment in 2016 when Bida was formed by merging the Board of Investment and the Privatisation Commission.
Secretary to the Prime Minister's Office Md Tofazzel Hossain Miah said, "It is very timely to organise the summit during our LDC graduation. This will encourage foreign investors to invest in Bangladesh."
Beza Executive Chairman Sheikh Yusuf Harun said 100 economic zones will be created across the country by 2030.
"During the pandemic, we have received investment proposals of $6 billion in the economic zones. We hope that this investment conference will also be able to attract more foreign investment," he added.
Summit agenda
An opening ceremony, a plenary session on investment competitiveness and business environment in Bangladesh, a technical parallel session on economic zones, and a technical parallel session on the blue economy will be held on 28 November, the first day of the summit.
A technical parallel session on the fourth industrial revolution, ICT and ITES, a technical parallel session on PPP and Power and Energy will also be organised on the first day.
A technical parallel session on RMG, electric and electronic manufacturing, agribusiness, leather and leather goods, capital market, pharmaceuticals and healthcare, financial services, transport, and logistics will be held on the second day of the conference.
Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin, Bepza Executive Chairman Major General Md Nazrul Islam, PPPA Chief Executive Officer Sultana Afroz and IFC acting country Manager for Bangladesh, Bhutan, and Nepal Nuzhat Anwar also spoke at the programme.