Bangladesh govt to hold investor meeting to build confidence

The Bangladesh government subsequent to the terror attack that killed 20 people, mostly foreigners, in a Dhaka restaurant on 1 July has decided to hold an investor meeting next week to allay the international business community’s security concerns where they shall brief the companies and the businessmen about the measures taken to answer all their security related queries, said Gowher Rizvi, senior adviser on foreign affairs to Prime Minister Sheikh Hasina.

Rizvi was in Calcutta to participate in the Bangladesh, Bhutan, India and Nepal Business Forum, organized by the Indian Chamber of Commerce. He spoke about next week’s meeting on the event’s sidelines.

About 200 foreign companies that have a presence in Bangladesh have been invited to the Dhaka meeting, where senior government officials too will be present.

Rizvi said that despite the attack, the investors’ confidence in their country has remained unshaken…. No company or businessman or consulate till date has exited the country.

Winning back the confidence of the global community is crucial for the economy of Bangladesh, which has been growing at 6 to 7 per cent for over a decade.

Bangladesh’s economy has thrived despite periods of political instability that caused prolonged strikes and global hurdles like the economic meltdown of 2008. One of the key contributors has been the textile sector, which accounts for more than 80 per cent of the country’s export earnings.

Since the textile industry depends on the global market, the government needs to convince foreign companies operating in Bangladesh that the situation is under control.

Bangladesh is heavily dependent on foreign companies also in the fields of high-technology-intensive industries and the infrastructure sector.

If the foreign companies are not convinced about the security measures taken by the government, it directly affects the economy…. It is good that the Hasina government is trying to reach out to investors, an Indian diplomat said.

Rizvi invited private investors to Bangladesh, promising they would not face any obstacles.