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PM seeks larger US investments in Bangladesh

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Prime Minister Sheikh Hasina on Thursday referred to as upon the US traders to make investments in varied sectors that included renewable vitality, shipbuilding, car and prescribed drugs in Bangladesh saying that Bangladesh is happy to supply a particular financial zone for them.

“I wish to invite US traders to spend money on renewable vitality, shipbuilding, car, prescribed drugs, heavy machineries, chemical fertilizers, ICT, marine assets, shipbuilding, medical tools, and COVID-19 vaccine manufacturing in Bangladesh,” she stated.

Whereas delivering her deal with on the high-level Coverage Roundtable organized by the US-Bangladesh Enterprise Council at her palace of residence right here, she stated that Bangladesh has liberal funding coverage, which included international funding safety, tax vacation, remittances of royalty; unrestricted exit coverage; full repatriation of dividends and capital on exit, BSS experiences.

The Prime Minister stated that Bangladesh is establishing 100 ‘Particular Financial Zones’ (SEZs) and several other Hello-tech Parks in numerous elements of the nation, including that having greater than 600 thousand (600,000) free-lancing IT professionals, Bangladesh is the suitable vacation spot for IT investments.

“Furthermore, expert human assets at a aggressive wage is an added benefit in Bangladesh. Even when required, we’d be glad to supply a devoted ‘Particular Financial Zone’ for the US traders. I imagine the US-Bangladesh Enterprise Council can play a major function on this route,” she stated.

The Prime Minister stated Bangladesh is a pioneer in South Asia for regional connectivity and the strategic location of Bangladesh provides great potential to be the financial hub of the area.

“Having India, China, and Southeast Asia; Bangladesh is in the course of a mixed market of 4 billion individuals,” she informed the gathering of enterprise leaders from Bangladesh and the USA.

Noting that know-how and innovation are the keys for fast-track financial progress, she stated thus, Bangladesh has change into the 2nd largest RMG exporter, third largest producer of greens; 4th largest producer of rice; and fifth largest producer of inland fisheries on the planet.

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“Bangladesh would persistently pursue financial diplomacy with its neighbors and world gamers, together with america. We’re constantly bettering our bodily, authorized, and monetary infrastructures and enhanced connectivity within the nation,” she stated.

The completion of the Padma Multipurpose Bridge has enhanced each the home and regional connectivity, whereas Dhaka Metro-rail Venture is predicted to open in December 2022, which might add sooner home mobility, she stated.

Mentioning that Bangladesh is ready to graduate from the LDC standing by 2026, due to this fact, she stated they want enough help to reinforce our world competitiveness and export basket.

“I’m positive that america could be our most sturdy accomplice on this difficult endeavour,” she stated.

The Prime Minister stated the Bangladesh authorities acknowledges the need of guaranteeing labor rights within the nation. ILO Roadmap supplies a transparent plan of actions and timeline to handle the considerations and suggests cures within the labor sector.

“My authorities is satisfactorily engaged with america and different growth companions for steady enhancements on this sector. The US authorities is actively represented within the 3+5+1 mechanism on labor points,” she stated.

Furthermore, she stated that “the formation of a ‘Authorities-to-Authorities’ Working Group, as a observe up resolution of the 2nd Excessive Degree Financial Session is a vital step on this route.

The Premier wished each success to the US-Bangladesh Enterprise Council and sincerely believed that it’s going to considerably improve the commerce and funding cooperation between the 2 international locations, saying, “Allow us to as soon as once more be a part of our fingers for a mutually inclusive partnership for a sustainable financial progress. .”

Sheikh Hasina stated this 12 months Bangladesh and america each celebrated the 50 years of diplomatic relations.

“America is a significant financial and growth accomplice of Bangladesh and we’ve in depth engagements with america on a variety of points together with commerce, funding, military-military cooperation, safety, local weather change, and world well being. Our shared objectives of mutual prosperity have been echoed by way of the increasing business-to-business and people-to-people contacts,” she stated.

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The Premier talked about that in 2021-22, Bangladesh’s export to america was round US$ 10.42 billion and import was round US$ 2.8 billion.

Sheikh Hasina stated Father of the Nation Bangabandhu Sheikh Mujibur Rahman dreamed of a ‘Sonar Bangla’ (Golden Bengal) the place the widespread individuals of Bangladesh would have an exploitation-free society and full financial emancipation, including, “My authorities is relentlessly working to comprehend Bangabandhu’s unfinished dream.”

Bangladesh achieved an exemplary socio-economic stride within the final 13 years, significantly within the fields of girls empowerment, poverty alleviation, diet, maternal & little one well being, major schooling, and ICT, she stated.

The Premier credited continuity of presidency, funding within the rural economic system, and ladies empowerment had been the keys to success.

She famous that Bangladesh is ready to be graduated right into a middle-income nation by 2026 and on monitor to change into a developed nation by 2041.

Bangladesh is within the course of of remodeling “Digital Bangladesh” right into a ‘Sensible Bangladesh’, the place info and communication know-how (ICT) is taking part in a major function, she stated.

The Prime Minister stated they’ve undertaken the ‘Delta Plan 2100’, a strategic roadmap in the direction of inexperienced progress by addressing the antagonistic results of local weather change.

She stated the Covid-19 pandemic has proven the world the need for a resilient world well being system.

“Regardless of being a densely populated nation, the demise price in the course of the pandemic was very low on account of early and efficient measures taken by the federal government. I’m glad to tell you that 102% of the focused inhabitants (121 million) obtained at the least two doses of COVID-19 vaccines in Bangladesh. Thus, our economic system has proven nice resilience within the face of the pandemic,” she stated.

She continued: “We deeply admire the US authorities for donating greater than 75 million COVID-19 vaccines to Bangladesh by way of COVAX.”

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