Singapore keen to invest in economic zones

The Singapore Business Federation (SBF) and Enterprise Singapore, leading organisations of the country's business community, have expressed their interest in investing in the economic zones of Bangladesh.

A joint delegation from Singapore met with Bangladesh Economic Zones Authority (Beza) Executive Chairman Shaikh Yusuf Harun at the Beza office Monday to review and discuss investment scopes in Bangladesh, said a press release.

Beza said that the delegation expressed interest in the tourism sector, single investment and investment under Government to Government arrangements.

Singaporean High Commissioner in Dhaka Derek Loh led the delegation to the meeting presided over by the Beza executive chairman.

Referring to Prime Minister Sheikh Hasina's visit to Singapore in 2018, Derek Loh said that the prime minister earnestly called on Singapore's business organisations to invest in the special economic zones in Bangladesh and we are interested in investing.

Citing the excellent bilateral relations between Bangladesh and Singapore, Derek Loh said that his government is committed to strengthening the economic ties between the two countries.

Beza executive chairman Shaikh Yusuf Harun said that Beza is working relentlessly to develop the scope for investment.

"One Stop Service (OSS) Centre has been launched to provide all necessary services," he said.

He added that the initiative of establishing economic zones has the target to produce and export $40 billion worth of additional goods every year.

Shaikh Yusuf Harun called upon the businessmen of Singapore to invest, saying that the country now has an investment-friendly environment.

"The work of creating self-sufficient industrial zones in coordination with various government agencies is progressing at full speed," he pointed out.

SBF Executive Director Soo Wei-Chieh, Regional Director of Enterprise Singapore Ms Sabrina Ho, Bangladesh Business Chamber of Singapore President Mohammad Shahiduzzaman and other delegates attended the meeting.

Beza is working towards establishing 100 economic zones across the country by 2030.