BSEC Roadshow ‘The Rise of Bengal Tiger: Potentials of Trade & Investment in Bangladesh’ Investor Summit – Bangladesh Capital Markets at New York
NEW YORK–(BUSINESS WIRE)–Yesterday, Bangladesh Securities and Exchange Commission organized a day-long ‘Investor Summit: Bangladesh Capital Markets’ at the Intercontinental New York Barclay hotel, New York. It is a part of the ongoing roadshow on the Bangladesh Economy and Capital Markets titled ‘The Rise of Bengal Tiger: Potentials of Trade & Investment in Bangladesh’ in the USA. It was the beginning program of the roadshow demonstrating Bangladesh Capital markets and Trade & Investment opportunities globally. After successful completion in Dubai earlier this year, BSEC is conducting the roadshow in the USA now.
There were two different sessions arranged for NRBs and Foreign Investors where Investors and business leaders of both nonresidents Bangladeshi and foreign institutional and individual investors participated in the sessions. A senior team of BSEC led by its Chairman Professor Shibli Rubayat-Ul-Islam and representatives from the concerned ministries and regulatory authorities, dignitaries including the Private Industry and Investment Adviser to the HPM, Senior Secretary of Finance Division, Secretary of Ministry of Commerce, Secretary of Economic Resources Division, Executive Chairman of BIDA and Executive Chairman of BEPZA also participated in the summit, along with private sector leaders, NRBs, foreign Investors and Media.
Eminent Economist Mr. Lawrence H. Summers, Professor of Charles W. Eliot University and former Chief Economist of the World Bank delivered the keynote speech. He appreciated the current transparent framework of the Bangladesh financial market.
Mr. Salman Fazlur Rahman, Private Industry and Investment Adviser to the HPM, said that Bangladesh’s economy is moving ahead as planned. All expatriate businesspersons should invest in Bangladesh. Mr. Rahman said, “the government has guaranteed potential investors from the United States that they will receive full cooperation for investments made in Bangladesh.”
Chairman of BSEC, Professor Shibli Rubayat-Ul-Islam said, “Bangladesh is now a region with immense potential for investment. I urge all of you to join us in this development.” He said that, in the last 12 years under Prime Minister Sheikh Hasina, Bangladesh has made tremendous progress in everything including the economy, trade and commerce.
The government is offering many benefits to foreign investors. Hi-tech parks have seen a 22% tax cut for foreign investors in the last ten years and have also been exempted from 80 per cent VAT utility. There are no equity restrictions for foreign investors. Besides, 50% VAT exemption has been given in the first year. Bangladesh is also giving 10% cashback for export-oriented revenue. According to Hong Kong’s Frontier Journal report, Bangladesh has emerged as the best capital market in Asia in the third quarter of this year.
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