PM proposes special economic zone for US businessmen

Prime Minister Sheikh Hasina has urged US businessmen to invest more in Bangladesh, reiterating her proposal for a 'special economic zone' for US investors only.

"I invite you to invest in our dynamic and promising sectors including renewable energy, shipbuilding, automobiles, pharmaceuticals, light and heavy machinery, chemical fertilizers, ICT, marine resources and medical equipment," she said.

According to BSS, Sheikh Hasina presented the keynote address at the Executive Business Round Table titled 'US-Bangladesh Economic Partnership: Shared Vision for Smart Growth' in Washington DC yesterday.

She also inaugurated the US-Bangladesh IT Connect Portal at the event organized by the US-Bangladesh Business Council at the Great Hall of the US Chamber of Commerce.

Highlighting the establishment of 100 Special Economic Zones (SEZs) and 29 Hi-Tech Parks in different parts of the country, the Prime Minister said that Bangladesh's investment policy in these regions is "the most generous". Bangladesh legislation provides for foreign investment protection, tax holiday, royalty remittance, unhindered exit policy, dividend and full repatriation of capital.

“The United States can be Bangladesh's strongest partner. The US is currently our single largest export destination, the largest source of foreign direct investment, a long-standing development partner and an important source of training and technology," the Prime Minister said.

The Prime Minister said that Bangladesh has achieved significant socio-economic progress in the last 14 years with the efforts of the government. Bangladesh is now being considered as a 'role model of socio-economic development'.

"Continuity of good governance, rule of law and stability, investment in rural economy, empowerment of women and progress in ICT sector has made this possible, which has put us on the path for achieving 'Digital Bangladesh'."

Sheikh Hasina said, "This is why the brand value of Bangladesh is increasing rapidly lately. According to Brand Finance UK, Bangladesh's brand value increased by 37% last year, which is the highest in the world, and according to the Global Soft Power Index 2023, Bangladesh ranks second after India among South Asian countries."

“Our aim is to build a 'Smart Bangladesh' by 2041. This vision will make Bangladesh a high income developed country by 2041.”