Government Ready to Support Foreign Investors

Bangladesh provides a very favourable environment for foreign investment, according to Prime Minister Tarique Rahman, who has assured government help for interested international businesses. The PM focused on the nation’s business-friendly policies at a meeting at the Cabinet Division with a team from the American Chamber of Commerce in Bangladesh (AmCham) led by President Syed Mohammad Kamal.

PM Tarique Rahman and Mr. Stephen Carpine, the Asia-Pacific President of Visa, met separately to talk about growing digital financial services. In order to provide jobs, the PM pushed Visa to set up a global service or technology development center in Bangladesh. Mr. Carpine said that Visa is very interested in increasing investments, improving digital transactions, using AI for safe payments, and expanding card services to public areas like toll booths and metro rail. Visa also intends to develop safe payment methods that will make it simple for Bangladeshi independent contractors to earn money abroad.

The government has leased three closed state-owned jute mills under Bangladesh Jute Mills Corporation (BJMC) to two private companies, Pran-RFL Group and Hamko Group, in order to support economic growth. PM Tarique Rahman witnessed the transaction, which comprises Hamko leasing the Platinum Jubilee Jute Mills and Pran-RFL leasing the National Jute Mills and Star Jute Mills. This project will generate an estimated yearly turnover of 1,175 crore BDT, employ 11,629 people, and inject about 619 crore BDT in investments. In a major step toward industrial reactivation, BJMC intends to lease 20 of the 25 closed mills to private companies; 14 of these leases have already been finalised, and 9 are currently in operation.