She hoped that the Malaysian businessmen would rethink of Bangladesh as a truly competitive investment destination in the Asia-Pacific.
“Many of you have made contribution to the transformation of modern Malaysia over the decades. I believe that similar opportunities beckon in Bangladesh,” she said.
“In spite of our limitations and a low-level of economic development, Bangladesh offers advantages and incentives that should merit your due consideration,” she said when addressing a dialogue on “Investment and Trade Opportunities in Bangladesh” here Wednesday.
President of Malaysia South-South Association (MASSA), Tan Sri Azman Hashim and Bangladesh High Commissioner to Malaysia, AKM Atiqur Rahman also spoke at the dialogue session.
Also present were the Special Envoy for Infrastructure to India and South Asia, Datuk Seri S. Samy Vellu and Axiata President and Group Chief Executive Officer, Datuk Seri Jamaludin Ibrahim.
Sheikh Hasina said she and her Malaysian counterpart, Prime Minister Datuk Seri Najib Tun Razak had recognised the spheres for further growth and investment.
“Yes, there are some challenges in terms of our power, energy and communications infrastructure, but the government is fully committed to turning the challenges into opportunities,” she stressed.
She said Bangladesh had a sizeable amount of foreign direct investment in these areas and was ready to welcome quality investments from Malaysia to meet the country’s large requirements.
“We are mindful of our shortcomings in terms of creating an enabling environment for investment in Bangladesh. Thus, we are in the process of creating as many as 18 Special Economic Zones,” she added.
Towards that end, she said the government is fast easing critical logistics and processing facilities for foreign investors.
“We are looking at our legal frameworks in attracting further foreign investments, and re-visiting our entire investment facilitation regime to simplify processes.
“Relaxation of Foreign Exchange Control Act and easing of issuance of work permit to foreign nationals are just instances in this regard,” she added.
Last year, total bilateral trade between Bangladesh and Malaysia increased to US$ 1.67 billion from US$ 1.58 billion in 2012.
— BERNAMA
