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PM tells Malaysian entrepreneurs

Investment in Bangladesh fully protected, highly profitable
KUALA LUMPUR, Oct 12: Prime Minister Begum Khaleda Zia today urged the Malaysian entrepreneurs to invest in Bangladesh which, she said, will be fully protected and highly profitable, reports BSS
"Let us enhance our bilateral cooperation in the field of trade and investment It will be mutually beneficial. Let us become partners tn develop merit.' she said welcoming the Malaysian entrepreneurs to share the bright economic op portunities that-a liberal and stable Bangladesh offers now.
Begum Zia was addressing as chief guest, the seminar on Investment and Trade Opportunities in Bangladesh' orga nised by the National Chamber of Commerce and Industry pf
Malaysia (NCC1M) here this morning at Hotel Istana
Leading businessmen, investors and entrepreneurs of capital city Kuala Lumpur attended the seminar and responded positively to the call of the Piime Minister.
On her arrival at the seminar venue. Begum Zia and members of her entourage were received by President of NCC1M Ybhg Tan Sn Wan Azmi Wan Hamzah She was given a standing ovation when she entered Mahakota conference room.
• The Prime Minister said law in Bangladesh ensures a fair and equitable treatment to foreign investment.
She said a prospective foreign investor In Bangladesh
should not only be looking at the domestic market of Bangladesh or the regional market in South Asia but also at the global market.
Bangladesh, she said, enjoys preferential access to the markets of USA, Canada. European Union and Japan for certain products under GSP
The Prime Minister told Malaysian investors that they wtil- find a worldwide'market for their goods produced in Bangladesh.
Referring to the economic-policies of the present government. Begum Zia said these policies are built around the central role of the private sector
' "Our market is now open to
the world Our currency. Taka, is practically fully convertible We have strengthened and streamlined our banking system." she added
The Prime Minister said special encouragements and attractions are available for foreign investors and there are special export processing zones where export-oriented industries can be located with 100 per cent foreign owner ship.
She said: "Capital and profits are fully repatriable. Bright new opportunities have been created in Bangladesh for the foreign investors."
Welcoming the foreign investors she said through a sustained process of privatisation. Bangladesh is offering shares of public enterprises in the share market.
The Prime Minister said the privatisation board In Bangladesh is in a position to respond to the offers of foreign investors in respect of public enterprises which are being disinvested on very attractive terms.
The Prime Minister said it is significant that this seminar is taking place at a time when economic relations between Bangladesh and Malaysia are poised for a new momentum.
She said her government also attaches highest importance to the growth of mutually beneficial trade and investment between the two Asian countries bound together by religious and cultural ties.
Both Bangladesh and Malaysia, the Prime Minister said, are democratic societies with free market economies.
Referring to the factors of complementarity in the two economies which can be maximised for the mutual benefit ' of the two peoples, she said at the. government level, we are providing new and attractive opportunities for bolder private initiatives.
She also highlighted the strategic location of Bangladesh in the enormous market of Sodth Asia, a market of one billion consumers and Bangladesh enjoys a special degree of acceptability in all South Asian countries, who have created a preferential trading area called SAPTA.
The Prime Minister said the Malaysian capital and the highly competitive labour force in Bangladesh can be combined for very profitable industrial ventures in Bangladesh.
Similarly, she said. Bangladeshi workers, engineers, doc tors and other professionals would be able to substantially contribute to the economic development of Malaysia.
Underscoring the need for reducing the growing trade imbalance between the two countries, she said It Is a cause of concern for us while Malaysia Is selling much more to Bangladesh than buying.
As the business Jeaders of your country, you will agree with me that ypur initiatives In reducing this widening gap are of great importance. Our products are price competitive and of high quality. We would expect you to import more from Bangladesh.' Begum Zia added.
She said .the Malaysian businessmen would find Bangladeshi goods more profitable and find Bangladeshi products including Jute goods, jute carpets, tea. fish, garments, ceramic items, China ware and leather goods specially price competitive.
The Prime Minister said her delegation is'also requesting the Malaysian government to create better market access in Malaysian market for Bangladeshi! goods.
Special envoy to the Prime Minister. M Morshed Khan. Executive Chairman of Board of Investment (BOU M Mokam-mel Hoqu'e. President of the Metropolitan Chamber of Commerce and Industry. Latifur Rahman and President of NCCIM Ybhg Tan Sri Wan Sri Azmi Wan Hamzah, top businessmen. Investors and entrepreneurs of Malaysia took part in the discussion.
The President of NCCIM said that the Malaysian investors were keen to invest in Bangladesh.
He. however; underlined the need for having Investment without workers, militancy and political Instability.
Malaysian entrepreneurs, said they were impressed at the new opportunities that Bangladesh now offers for investment, and trade.