Bangladesh is seeking an additional $5 billion in US investment over the next five years as the government moves to deepen economic ties with American businesses through investment, technology transfer and employment generation.
Commerce Minister Khandakar Abdul Muktadir said the government and the American Chamber of Commerce in Bangladesh (AmCham) would work together to attract more US companies and expand economic opportunities.
“Bangladesh is fully prepared to work closely with US companies to increase investment, create employment, transfer technology and expand economic opportunities,” he said.
The minister made the remarks as the chief guest at an event marking AmCham Bangladesh’s 30th anniversary at Radisson Blu Water Garden in Dhaka on Saturday.
The event was attended by US Ambassador to Bangladesh Brent T Christensen, AmCham President Syed Mohammad Kamal, Vice President Ala Uddin Ahmad, former presidents of the chamber, current and former executive committee members, government officials, business leaders and journalists.
Khandakar Abdul Muktadir said AmCham had played an important role over the past three decades in strengthening economic relations between Bangladesh and the United States.
“It is not only a business organisation but also an effective bridge between the government and the private sector,” he said.
The minister said bilateral trade between Bangladesh and the United States currently exceeds $13 billion, but the relationship goes beyond trade statistics.
US companies, he said, are contributing to Bangladesh’s development through investment, technology, employment, knowledge sharing and global best practices.
AmCham member companies have invested more than $5 billion in Bangladesh and contribute more than 20 per cent of the country’s national revenue, according to the commerce minister.
He said the investment reflected US businesses’ confidence in Bangladesh’s economy.
Khandakar Abdul Muktadir said AmCham leaders recently expressed interest in bringing another $5 billion in US investment to Bangladesh over the next five years during a meeting with Prime Minister Tarique Rahman.
“The government will provide the necessary support to implement this initiative,” he said.
The minister also assured investors that the government would work to resolve genuine business challenges.
“When any genuine business issue is brought to our attention, my ministry and the government will make every effort to find practical solutions,” he said.
Citing an example, he said a licensing-related issue involving AmCham member company Corteva Bangladesh was resolved within a month through government intervention.
Khandakar Abdul Muktadir said Bangladesh offered several advantages for investors, including its strategic location, young and skilled workforce, large domestic market and growth opportunities in technology, digital innovation, healthcare, manufacturing and financial services.
However, he said investment attraction required more than identifying opportunities.
“Investors need predictability, an easy business environment, efficient trade facilitation and a stable policy framework,” he said.
The government, he added, was working to simplify business processes, expand digitalisation, improve trade facilitation and create a more investment-friendly environment.
Looking ahead, Khandakar Abdul Muktadir said Bangladesh-US economic relations could enter a new phase, with more US companies investing in Bangladesh, introducing advanced technology and global expertise, while helping expand access for Bangladeshi products and services in the US market.
He said stronger cooperation among the government, businesses, investors, development partners and organisations such as AmCham would be essential to achieve the goal.
“More trade, more investment, greater innovation, new employment opportunities and a stronger and lasting economic partnership between Bangladesh and the United States require everyone to work together,” he said.
