President for South Korean more investment in Bangladesh

President Mohammed Shahabuddin on Monday urged South Korea to invest more as an investment-friendly environment now prevails in Bangladesh.

The President came up with the call when the newly-appointed Ambassador of the Republic of Korea-ROK (South Korea) to Bangladesh Park Young-Sik presented his credentials to him at Bangabhaban.

Welcoming the new ambassador, he said South Korea is one of the major foreign investors in Bangladesh, President's Press Secretary Md Joynal Abedin told BSS.

Shahabuddin said that the congenial business environment of Bangladesh and its rapidly growing economy welcome more Korean investments in the fields of light engineering, electronics, home appliances, infrastructure development, ICT sector, shipbuilding etc.

It is noted that South Korea is the major investor in Bangladesh with an accumulated gross stock of USD 1.4 billion dollars in FY 2021-22 with the investment of more than 150 Korean companies.

The President said there are many potential areas between Bangladesh and South Korea where both countries will benefit through joint ventures.

Expressing his satisfaction with the South Korean government's Employment Permit System (EPS), the Head of State said many Bangladeshi skilled workers will be able to get employment opportunities in Korea through this.

The South Korean ambassador said his country is keen to increase bilateral trade and investment with Bangladesh.

In this regard, he stressed on the visit-exchange of high-level delegations from the public and private sectors of the two countries.

Lauding the skills of Bangladeshi expatriates, Park Young-Sik said they (manpower) are making important contributions to the development of South Korea. He sought full cooperation in doing his assignments in Bangladesh.

The President assured him of providing all necessary support in performing his duties.

Earlier, on his arrival at Bangabhaban, a smartly turned-out contingent of the horse-mounted President Guard Regiment (PGR) gave the envoys guard of honour.

President's Office Secretary Sampad Barua, Military Secretary Major General SM Salahuddin Islam and Secretary (attached) Md Wahidul Islam Khan were present on the occasion.

Source: BSS