I dream of making the country of trillion dollar economy: PM
Prime Minister Sheikh Hasina said her dream is to make Bangladesh a trillion-dollar economy, urging South African investors to invest heavily, especially in information technology (ICT), infrastructure, textiles and tourism.
She said this in a speech at a road show titled 'The Rise of Bengal Tiger: Bangladesh Trade and Business Summit' at the Radisson Hotel and Convention Center in Johannesburg on Wednesday (August 23), which was linked virtually from her residence. Bangladesh Securities and Exchange Commission and Bangladesh Investment Development Authority jointly organized this conference.
Sheikh Hasina arrived in Johannesburg on Tuesday to attend the 15th BRICS Summit at the invitation of South African President Cyril Ramaphosa.
The Prime Minister said, "I have a dream, which is also the dream of 17 crore people of Bangladesh, and that is to make a trillion dollar economy and a fully developed smart nation by 2041. She further said that in order to fulfill the dream, they set long-term goals for prosperity and progress embarked on an ambitious endeavor.
Sheikh Hasina said, Bangladesh is resolutely strengthening its commercial environment by setting more friendly targets for trade, business and investment. She said, 'Our strong belief, our efforts will not only benefit us; Rather, it will also prove profitable for those who choose to invest in our growing economy.”
The Prime Minister said that they have welcomed investors from around the world, especially from South Africa, to explore the many investment opportunities within Bangladesh. She said, 'This is the time to know Bangladesh better, to invest here. We offer various facilities in sectors like ICT, Electronics, Infrastructure, Textiles, Tourism, Heavy Industries and Small Industries. Our government is committed to providing opportunities for doing business well.'
Noting that significant Bangladeshi nationals have created a strong base in South Africa, the Prime Minister said, "Thank to the migrants for contributing to our economy." We urge you to further invest in our growth.'
Regarding why Bangladesh adopted the 'Look Africa Policy', Sheikh Hasina said, 'Africa's population has exceeded one and a half billion and is currently experiencing rapid urbanization and economic growth; Which is providing favorable opportunities for Bangladesh to expand its exports, especially in sectors like textiles and ready-made garments, pharmaceuticals and agricultural products. She further said that in the last decade, Bangladesh has focused on new markets in Africa.
The Prime Minister said, "Both government officials and business leaders in Bangladesh recognize the potential of African economies and the benefits of strong trade ties." Africa's growing middle class, rapidly growing population and consumer demand have made the region an attractive market for Bangladeshi exports.'
The Prime Minister also said that despite the significant potential, bilateral trade between Bangladesh and South Africa last year was only USD 310 million, which is less than the full export and import potential of both countries. She said, "We are confident that there are ample opportunities for cooperation between the business community and trade associations of both countries. Beyond the existing bilateral process, we are interested in establishing a "Joint Committee on Trade and Investment" and negotiating a double taxation avoidance agreement with South Africa.'
The Prime Minister said that Bangladesh is also planning to form a joint business forum between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and South African chambers.