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A unique home of foreign investors
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Bangladesh is a country of green and opportunity for foreign investors. It is located as a bridge between the emerging markets of South Asia and fastest growing markets of South East Asia and ASEAN countries. With the proposed concept of a "Bay of Bengal Growth Triangle" with its apex Chittagong port extending south-west to Calcutta, Madras and Colombo and the south-eastern arm extends through Yangon, to Thailand, to Penang with the third arm to Colombo, this region should have growing attention of the investment world. Bangladesh is poised to become a regional hub where activities relating to assembling, manufacturing, trading and services, would be some of the areas that are picking up over the years. The geo-politico-economic location of Bangladesh indicates its history of being a nation of sea-farers, traders and suppliers.
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The current macroeconomic situation in the country is, by and large, stable, characterized by a manageable fiscal deficit and a quite low current account deficit. The stable macroeconomic situation is an outcome of a mixture of prudent monetary and fiscal policies that are being pursued. The country has a policy of private sector led, liberal economic approach; export oriented, gradually transforming into assembling & manufacturing; seeking for rapid expansion of the service sector. Also looking for substantial joint venture and Direct Foreign Investment (DFI) from abroad in medium and large-scale industries and enterprises, including infrastructure building.
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Bangladesh has never defaulted in its debt-service liabilities to multi-lateral and bilateral donors. It produces over 21 million metric tons of food grains, basically rice and some wheat and potatoes which is enough to feed the population of the country, and for building reserve stocks. The country never experienced negative growth during last 27 years of it's independence. It exports readymade garments, knitwear, brand name wind cheaters, walking shoes, leather goods, shoes and other products, urea fertilizer, pharmaceutical, shrimps and prawn, vegetables, jute and jute products etc. to sophisticated markets of EU, USA, Japan and many other countries. Garments and related export account for more than US $4 billion. The frequency and intensity of natural disasters are far less in Bangladesh than those in the Philippines, Japan and even the USA, Bangladesh is located outside the major earthquake zones.
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Bangladesh has opened up its economy and removed all barriers to investment and business. All investment areas except are open to private investment. It provides tax holidays and duty free import of capital machinery, raw materials import for export manufacturing. Expatriates' work permits are easily obtained and unhindered remittance of dividends, capitals, gains on capital etc. are allowed. The government has eliminated licensing system and simplified government approval procedure for investment in Bangladesh. It is an attractive investment destination for foreign investors like you. As a result, a number of world’s top companies have already have set up their projects in Bangladesh.
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Reforms and liberalization A significant array of reforms, deregulation and liberalization have been carried out over the recent years in policies relating to virtually every sector of the economy including financial reforms with the aim of globalization challenges for the economy through introduction of international competitiveness and productive efficiency.
Bangladesh government is offering unparalleled facilities to investors. 100% foreign investment is allowed, excepting four reserved items/areas. It has enacted a law in the parliament enabling the private investors to set up private Export Processing Zones (EPZ). The units in private EPZ will enjoy facilities similar to those in government EPZs. The Private Power Generation Policy has been formulated paving the way for private investment in power generation for which a new Electricity Act and a regulatory commission is on their way. Private investments have already been allowed in gas exploration, gas development, power generation and other mining & exploration activities.
Legal security for investment Foreign Private Investment (Promotion and Protection) Act, 1980 ensures legal protection to foreign investment. Bangladesh is a member of Multi-Lateral Investment Guarantee Agency (MIGA), Overseas Private Investment Corporation (OPIC) of USA and International Centre for Settlement of Industrial Disputes (ICSID) and Member of World Intellectual Property Organization (WIPO) and World Association of Investment Promotion Agencies (WAIPA).
INVEST & EXPLORE BANGLADESH
