Remove complexities for more British investment

Bangladesh will attract more British investment if the existing business-related "complexities" are removed, said Rushanara Ali, the British prime minister's trade envoy to Bangladesh.

"The United Kingdom wants to enhance trade and commerce with Bangladesh. If the complexities are removed, the British investment would increase," said Ali, also a British parliament member.

Ali made the remark when she met Commerce Minister Tipu Munshi at the secretariat office in Dhaka yesterday, according to a press release.

She also said that the "Made in Bangladesh" is a popular brand in the UK. She mentioned that many British companies have been working in Bangladesh with reputation while British businesses are interested to invest in Bangladesh, especially in the education and services sectors.

If the bilateral trade increases between the two countries, then scope would be created for the operations of cargo vessels, she opined.

Tapan Kanti Ghosh, senior secretary to the commerce ministry, and Robert Chatterton Dickson, British high commissioner to Bangladesh, among others, were present.

Commerce Minister Munshi said Bangladesh is now the best profitable destination for making investments.

Munshi said that Bangladesh has long-standing trade and economic relations with the UK while more than 200 British companies have invested around $2.5 billion in Bangladesh.

"The investment procedures have been simplified in Bangladesh while the country has been providing a set of facilities for attracting foreign investment," said Munshi.

The minister said there is a huge potential for making investments in the country's energy, railway, telecommunications, information technology, pharmaceuticals, light engineering, services, education and readymade garment sectors where the British investors could avail such opportunities, said the press release.

He also sought British investments in special economic zones and hi-tech parks of the country.