SINGAPORE companies are showing an increasing interest to invest in Bangladesh in view of the friendly bilateral relations and improving economic conditions in the country of 167 million people with a growing middle class. A business delegation from Singapore visited Bangladesh last August to explore investment opportunities, says its High Commissioner in Singapore, Md Mustafizur Rahman.
“There are good prospects for furthering the existing mutually beneficial relationship between Bangladesh and Singapore. Bangladesh can be a good destination for Singapore investment. Bangladesh is a fast-growing economy offering investment opportunities in areas such as infrastructure development, port management, electronics, real estate, technical education, healthcare and other service and technical sectors,” says Mr Rahman in an interview with The Business Times to mark the Bangladesh National Day today.
“Singapore can cash in on Prime Minister Sheikh Hasina’s offer of land for Singapore investors and establish a Singapore Economic Zone in Bangladesh to produce goods and services taking advantage of the low labour cost, liberal investment regime and the other monetary incentives offered by the government for foreign investment in Bangladesh.”
However, trade imbalance is a potential area of concern for Bangladesh as the two-way trade is heavily skewed towards Singapore. Both countries need to find pragmatic ways to narrow the trade imbalance, he adds.
Mr Rahman says he sees…