Bengaluru, Nov 2 (IEBusiness) Md. Lutfor Rahman, Bangladesh Deputy High Commissioner-Mumbai, addressing business captains at an an interactive Session organised by Bangalore Chamber of Industry and Commerce (BCIC) here, invited Indian IT and Education sectors to set up business in that country.
He said that Bangladesh is also looking at synergies in the verticals of Energy, Urban infrastructure, Food processing, Pharmaceuticals, Garments and Textiles and few other sectors, according to a BCIC release here on Friday.
Rahman said that “information Technology has made tremendous strides in Bangladesh and almost revolutionised the country’s landscape. This needs to grow further. Similarly, Bangladesh Government has identified Education as a priority sector and education is subsidised for girl child upto grade 12. In both these vital sectors, Indian majors can play a big role in propelling Bangladesh’s sustained growth of 7 per cent GDP in the coming years”.
He said that Bangladesh is now one of the most promising emerging markets in the world and foreign investors have begun to recognize this nation as a market to keep an eye on. A point in case for this statement is that Bangladesh has shown a welcoming openness towards foreign investors, allowing FDI in most sectors and providing favorable conditions for doing business.
Rahman said that: “Bangladesh has the most liberal investment policy in South Asia. It has favourably business environment through Government support and other investment facilities which includes protection of foreign investment by law, generous tax holiday, concessionary duty on import of machinery, remittances of royalty, 100 percent foreign equity, unrestricted exit policy, full repatriation of dividend and capital on exit and other benefits.”
He said that “all most all sectors are open to FDI and Bangladesh has an enabling infrastructure in terms of communication, energy, power, ports and economic special zone to promote business.”