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Malaysia to further its investment in Bangladesh

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November 8, 2000 

Dhaka (UNB) - Malaysian entrepreneurs are interested in making further investment in telecom, power and energy sectors of Bangladesh as they find business here profitable.

Malaysian High Commissioner Dr Mohd Yusof Ahmed said this while talking to Board of Investment (BOI) Executive Chairman M Mokammel Haque today (Tuesday).

They discussed matters of mutual interest relating to investment and trade between the countries.

The BOI chief said Malaysian investments in Bangladesh ranked third among the foreign investing countries, after the USA and UK, in terms of volume.

To date, 34 projects with 100 percent Malaysian investment or under joint venture have been registered with the BOI involving US dollars 1.32 billion.

During the meeting Malaysian HC focussed on forthcoming visit of Bangladesh investment delegation headed by BOI Executive Chairman to his country.

He expressed his belief that this delegation would contribute substantially to speeding up the momentum in the field of trade and investment.

They also discussed the possibilities of cooperation and assistance in the field of energy with PETRONUS, Malaysia, in the field of information technology CYBER JAYA and in port administration and management "PORT KLANG".

Haque explained in detail the incentive packages and other related facilities and sought further Malaysian investment in Bangladesh.

He mentioned some prospective fields of investment like power generation, oil, gas and mineral exploration, computer software, telecom, textile, tourism and transportation.

Dr Mohd Yusof Ahmed appreciated the policy framework, legal measures as well as fiscal incentive packages, structured by the government to attract FDI.

"Bangladesh is a developing nation which came into world focus for its remarkable performance in socioeconomic field," the envoy observed.

Dr Ahmed praised the economic policy of the government and expressed the hope that Malaysian investment in Bangladesh would rise further in the near future.