Bangladesh huge investment scopes: BIDA chief

Bangladesh Investment Development Authority (BIDA) Executive Chairman Quazi M Aminul Islam today said the country has huge scopes for investment in the sectors of leather and footwear, pharmaceuticals, smart manufacturing and biotechnology, genetics, products and services.

The BIDA executive chairman said this while a three-member delegation of CDC group, a UK based financial Institution, called on him at his office, BSS reported.

During the meeting, M Aminul Islam told the CDC group delegation that Bangladesh is now in a better position in the areas of commerce and investment as the government has taken some initiatives for alleviating the trade and investment environment to world class standard.

He also informed the delegation that Bangladesh is quickly implementing these initiatives for facilitating trade and investment.

The executive chairman also informed the visiting UK delegation that the commerce ministry including the BIDA is trying its utmost to promote country`s position to the double digit by 2021 which now stands at 176 in the `Ease of Doing Business` index.

The CDC group delegation comprises Richard Palmer, Head of Corporate Debt and Investment Director, Dania Siddiqui, Corporate Debt Investment Executive and Rahul Shah, Debt Investment Director.

The CDC group began its journey in Bangladesh with an investment of $10 million in a private equity fund and frontier fund. The group now has investment in different employment generation companies including Ananta Apparels.

Even the UK group has invested $25 million as development assistance in the infrastructure sector including development of 3-g infrastructure of the grameenphone.