Dhaka, Bangladesh
Bangladesh seeks S'pore investment

Bangladesh seeks S'pore investment

Highlighting Bangladesh's investment friendly policy and environment Commerce Minister Tofail Ahmed has said all facilities will be ensured if Singapore entrepreneurs invest in Bangladesh, reports BSS . "Bangladesh gives legal protection to investors . . . cent percent foreign investment is allowed in Dhaka and a foreign investor can take back profits and even the entire capital," said Tofail Ahmed while speaking at a seminar in Singapore. Bangladesh Business Chamber in Singapore organized the seminar 'To promote trade and commerce between Bangladesh and Singapore,' according to information received here today. Tofail said entrepreneurs of different countries are investing in Bangladesh as it has enough skilled manpower to produce world standard products. The Singaporean entrepreneurs can invest in 100 economic zones of Bangladesh, he said, adding that the government has made a law to protect the interest of foreign investors. The commerce minister said Bangladesh has already signed Free Trade Agreement (FTA) with different countries and if required, it will think to sign FTA with Singapore for the promotion of bilateral trade. He said many Bangladeshi tourists visit Singapore every year and Bangladesh can also be a good tourist destination for Singapore's tourists. Bangladesh Business Chamber president Md Shahiduzzaman presided over the seminar. Bangladesh Ambassador to Singapore Md Mostafizur Rahman also spoke at the seminar. Another report adds: Commerce Minister Tofail Ahmed today said the government has set a target to produce 140 million kilogram tea in 2025 for fulfilling local demand and increasing export volume. "To increase tea production alongside the overall development of the tea industry, a strategic work plan "Development Pathway: Bangladesh Tea Industry" has been formulated for 15 years duration," he said. Replying to a starred question from a treasury bench member Bazlul Haque Harun, the minister informed this in the House. He said that the tea production was increased to 85.05 million kg in 2016 and 78.95 million kg tea in 2017, adding, "We have exported 2.56 million kg tea in the last year, while it was 0.62 million kg in 2016." Currently black tea side by side various value-added tea are being exported in different countries and Bangladesh Tea Board installed green tea processing factory in the tea research institute, Tofail added.

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