State Minister for Foreign Affairs Shama Obaed Islam exchanged views with Bangladeshi businesspeople and professionals in Singapore on Monday.
The event, organised by the Bangladesh Chamber of Singapore, was held at a local hotel. Members of the business community, professionals and migrant workers attended.
The state minister listened to concerns from Bangladeshis living in Singapore. Entrepreneurs briefed her on their businesses, opportunities and challenges, while chamber members highlighted the need to expand trade, investment and manpower migration, and to strengthen Bangladesh‑Singapore economic relations.
The Chamber’s president outlined its role in promoting business ties and facilitating exchanges between the two countries.
Shama Obaed Islam stressed the importance of economic diplomacy in attracting investment, noting Singapore’s potential as a global hub.
She said the government is working to create a more investment‑friendly environment, citing Cabinet approval of a new investment bill and the creation of a Foreign Ministry wing to coordinate with stakeholders on migration, trade and investment.
The state minister mentioned initiatives in renewable energy, artificial intelligence, technology, pharmaceuticals, ICT, education and Technical and Vocational Education and Training (TVET).
She acknowledged Bangladesh’s trade deficit with Singapore and called for export diversification. Research, innovation and policy support were emphasised to develop new sectors, with jute and jute‑based products identified as promising commodities.
She also proposed establishing a joint Bangladesh‑Singapore Chamber to promote trade and investment.
Business representatives suggested data centres as a potential investment area and highlighted the benefits of a Free Trade Agreement (FTA). They said Bangladeshi steel, shipbuilding and ship recycling companies could gain duty‑free access to Singapore under an FTA.
Proposals included roadshows to showcase Bangladeshi products, one‑stop services for Singaporean investors, simplified banking processes, workshops and trade fairs.
Professionals from diverse fields—doctors, engineers, shipbuilding workers, service sector employees, logistics and transport workers, construction workers and IT professionals—also joined the session. They identified elderly caregiving as a promising employment sector and suggested bilateral cooperation.
They proposed low‑cost medical treatment in Bangladesh under a government‑to‑government framework with Singapore hospitals. Concerns were raised about high migration costs, with exploitation by recruiting agencies blamed.
Suggestions included engaging former migrant workers as trainers, affordable training courses for work permit holders, and transparent recruitment systems to reduce costs.
Participants urged diversification of Bangladesh’s overseas employment market beyond construction and logistics, pointing to opportunities in IT, data analysis, cybersecurity and artificial intelligence. They noted Singapore’s service sectors offer significant scope for skilled professionals.
Responding, the state minister said the government is reviewing opportunities in the TVET sector and continuing discussions with ministries and stakeholders to expand employment.
She reaffirmed Bangladesh’s openness to global investment and encouraged Bangladeshi businessmen to explore opportunities at home. She requested formal written proposals from participants to guide government action.
In her closing remarks, Shama Obaed Islam assured that the government is committed to supporting expatriate Bangladeshis worldwide, including those in Singapore.
The two sessions provided a platform for direct engagement, focusing on expanding trade and investment, increasing skilled employment, improving migration governance and strengthening Bangladesh‑Singapore economic partnership.
