Prime Minister Sheikh Hasina has said investment policy of Bangladesh is the most liberal in South Asia.
“It (the policy) includes protection of foreign investment by law, generous tax holiday, concessionary duty on import of machinery, remittances of royalty and many more,” Hasina said.
Sheikh Hasina made the remarks in an address to the Cambodia Chamber of Commerce in Phnom Penh on Monday.
Other advantages of investment in Bangladesh include the young, industrious and easily trainable workforce with competitive wages and duty-free quota-free access to the markets of EU, Australia, Canada, India, Japan and New Zealand, she said.
The Prime Minister urged Cambodian businesses take advantage of Bangladesh’s location as the hub of economic activities in South and Southeast Asia.
“Traditionally, Bangladesh enjoys close commercial and other links with most of the ASEAN member countries,” said Hasina.
The Prime Minister said the country increasingly gets integrated with the economic corridors of China, Myanmar and India.
“Bangladesh finds itself as a `land-bridge` between South Asia and Southeast Asia and gives special emphasis on expansion of trade, investment with ASEAN neighbours,” the Prime Minister said.
Hasina also drew attention to Bangladesh’s garments, pharmaceuticals, knowledge and ICT industries and the 100 economic zones and hi-tech parks the government is building to promote investment and growth.
“I strongly believe that the institutional cooperation thus established between the two chambers would be instrumental in augmenting mutual trade and investment,” the Prime Minister said.
“Let us be partners in the quest for prosperity of our two peoples. Together we can bring a change in the life of millions of our people,” she said.
According to BSS, the premier said Bangladesh is now ranked 33rd largest economy in the world in terms of purchasing power parity (PPP).
"From subsistence agriculture, it is becoming a modern, process oriented, diversified and value added one," she said.
Foreign Minister AH Mahmood Ali, Cambodian Women Affairs Minister Ing Kantha Pahvi and Bangladesh Investment Development Authority's Executive Chairman Kazi M Aminul Islam also attended the business dialogue.
Cambodia Chamber of Commerce President Kith Meng; Federation of Bangladesh Chambers of Commerce, Industry (FBCCI) President Shafiul Islam Mohiuddin and Bangladesh Ambassador to Thailand Saida Muna Tasneem also spoke at the function.