Bida, Enterprise Singapore Group partner to expand trade, investment in Bangladesh
The Bangladesh Investment Development Authority (Bida) and the Enterprise Singapore Group will jointly work to expand trade and investment in Bangladesh.
A memorandum of understanding (MoU) was signed between Bida and Enterprise Singapore Group on Wednesday, reads a press release.
Mohsina Yasmin, executive member of Bida, and Audrey Tan, director (South Asia) of Enterprise Singapore Group, signed the MoU on behalf of their respective organisations.
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Addressing the programme as chief guest, Bida Executive Chairman Lokman Hossain Mia said, "Singapore has been a long-standing friend of Bangladesh in trade and investment, and this MoU will further enhance our trust, friendship, and mutual trade."
In addition, he emphasised the importance of technology in business investments. "Bida has modernised trade and investment policies to provide high-quality, smart services to investors, including one stop service and investment after care," he noted.
Lokman Hossain also called upon the investors of Singapore to invest in various sectors in Bangladesh.
Enterprise Singapore Group Director Audrey Tan said, "Bangladesh is one of the safest and most profitable places to invest, so Singapore is particularly interested in investing in Bangladesh."
Bida's Executive Member Mohsina Yasmin presided over the event. She highlighted the long-standing partnership between BIDA and Enterprise Singapore. She remarked that the renewal of this partnership aims to unlock fresh opportunities for business communities, while also fostering economic growth and generating employment opportunities.
Francis Chong, senior director of Singapore's Ministry of Commerce and Industry, highlighted Singapore's investments in various service sectors in Bangladesh, including electricity, telecommunication, textile and readymade garment (RMG), agribusiness, and food.
Bida's Assistant Director Abu Mohammad Nurul Hayat Totul stated that there are 169 investment projects registered with Bida from Singapore, with a total value of $3,185 million.
