Bangladesh on Monday urged the US entrepreneurs to diversify their investments in the country as 90 per cent of the US investment is in the energy sector at present.
“We told the US businessmen that they should pour investment in other sectors apart from the energy sector as there is a tremendous opportunity in our country for the investors,” said Bangladesh Foreign Minister Dr AK Abdul Momen to reporters after his meeting with a delegation of the US Bangladesh Business Council.
27 representatives of the council attended the meeting.
The minister however told the delegation that in the renewable energy sector Bangladesh needs huge investment.
Dr Momen pointed out that the US investment in Bangladesh is meagre compared to other countries in the region like Malaysia or China.
The US-Bangladesh joint economic cooperation meeting will be held on June 2 in Washington and this delegation can provide inputs to that crucial meeting, the minister said.
Responding to a question the minister said that GSP will not be that much beneficial to our RMG sector as this sector becomes highly cost effective.
Rather it will be helpful if their import duty on RMG remains same for all the countries, the minister noted mentioning that some countries got 5.0 per cent duty under the TICFA.
He also observed that as Bangladesh got out of the LDC status, FTA is more preferable to Bangladesh.
The minister informed that the US delegation showed interest in investing in the ICT sector.
We told them we have all the ingredients to make the ICT investment profitable for the investors, he added.
mirmostafiz@yahoo.com