HSBC encourages US entrepreneurs to further invest in Bangladesh

HSBC Bangladesh, in a programme with the visiting US-Bangladesh Business Council on Tuesday, encouraged the US entrepreneurs to further invest in Bangladesh, especially its different promising sectors.

Titled "US-Bangladesh Business Forum: Building on 50 years of friendship", the event was organised to celebrate the longstanding US-Bangladesh relation and explore the ways to unlock the potential of bilateral trade and investment, said a press release.

Peter Haas, US ambassador to Bangladesh, Md Mahbub Ur Rahman, chief executive officer of HSBC Bangladesh and Jay R Pryor, vice-president (business development) of Chevron, among others,  were present at the event.

"The United States and Bangladesh can go fastest together with enhanced trade and investment relations. The US-Bangladesh Business Delegation is here right now to demonstrate just how keen the US private sector is to invest in Bangladesh," said Peter Haas.

Highlighting the importance of US-Bangladesh business ties and HSBC's capability to support the relationship, Md Mahbub Ur Rahman said Bangladesh achieved steady growth over the past decade and was set to graduate into a developing country by 2026.

With surging domestic demand, growing service and industry sectors and steady investment in digitisation, the country would continue to draw foreign investments, he added.

"With strong international connectivity, HSBC is well poised to foster the growing trade and investment between the United States and Bangladesh."

The USA is one of the largest investors in Bangladesh, the release reads, and the majority of the investments are in the gas and petroleum sector.

"There is growing interest among the US companies to put their money into different promising sectors of Bangladesh," the release added.