Bangladesh Calls on Thai Private Sector to Boost Investments

During a significant business meeting on April 26, 2024, in Bangkok, organized by the Bangladesh Embassy, key government figures from Bangladesh, including Foreign Minister Dr. Hasan Mahmud and Finance Minister Mr. Abul Hassan Mahmood Ali, promoted investment opportunities to the Thai private sector. This event was part of Hon’ble Prime Minister Sheikh Hasina’s official visit to Thailand.

Unveiling Economic Potential and Strategic Partnerships

Foreign Minister Mahmud highlighted the substantial socio-economic strides Bangladesh has made under Prime Minister Sheikh Hasina’s leadership. With the country recently transitioning from Least Developed Country (LDC) status, Mahmud spotlighted the economic reforms and growth, marking it as an opportune time for increased Thai investment, especially with the initiation of a Free Trade Agreement (FTA) between Bangladesh and Thailand aimed at balancing trade deficits and boosting bilateral trade.

Incentives and Opportunities for Thai Investors

Salman Fazlur Rahman, Advisor to the Prime Minister on Private Industry & Investment, detailed the attractive incentives available to foreign investors in Bangladesh. Emphasizing technology transfer and potential investment in the tourism sector, Rahman invited Thai investors to capitalize on these opportunities. Additionally, the newly enacted Offshore Banking Act 2024 was discussed by the State Minister of Commerce, encouraging Thai investments in Bangladesh as a pivotal regional hub linking South Asia and Southeast Asia.

Collaboration in the Sugar Industry and Beyond

Charles Frederick, Senior Executive Vice President of Sutec Co Ltd, suggested collaboration with Bangladesh in revitalizing its sugar industry. His proposal included developing a policy framework to encourage private investments in the sector, showcasing a specific area where Thai investors could contribute.

Cementing Stronger Bonds Through Investment

The event served as a platform for enhancing people-to-people connections and fostering deeper bilateral relations between Bangladesh and Thailand. Notable attendees included ambassadors and distinguished business leaders from both nations, emphasizing the commitment to a strengthened partnership.