Kuwait urged to invest in Bangladesh

Bangladesh has invited Kuwaiti entrepreneurs to invest in the special economic zones as the Bangladesh Economic Zones Authority (BEZA) is working on establishing 100 economic zones (EZs) to woo foreign direct investment (FDI) in the country by 2030.

Bangladesh Ambassador to Kuwait Major General (retd.) Md Ashikuzzaman expressed this view at a reception marking the 50th anniversary of the Bangladesh-Kuwait relations and the 54th Independence Day and National Day of Bangladesh in Kuwait City recently, reads a press release.

The proposed zones, to be constructed on an estimated 30,000 hectors of land across the country, create 10 million jobs and generate an additional $40 billion worth of export earnings

Meanwhile, citing the flourishing tourism sector in Bangladesh, Major General (retd.) Md Ashikuzzaman also urged the Kuwaiti entrepreneurs to invest in the tourism sectors in Bangladesh.

Bangladesh Economic Zones Authority (BEZA) is also working to set up three special tourism parks--Sabrang Tourism Park, Naf Tourism Park (Jaliardwip) and Sonadia Eco Tourism Park- in Cox's Bazar district.

Through the development of tourism parks, BEZA thinks that Bangladesh will improve its travel and tourism competiveness ranking to double digit from the existing 127 position, as per the Travel and Tourism Competiveness index 2015 ranking.

The Feasibility Study and Environmental Impact Assessment have been completed to set up Sabrang and Naf tourism parks.

The completion of three special tourism parks will generate some 200,000 jobs in the next 8 years, generating more than $ 2.5 billion revenues annually.

Terming the middle-eastern countries as the major destinations of Bangladeshi workers, Md Ashikuzzaman has also urged Kuwait to recruit more Bangladeshi workers in the oil rich country.

Bangladesh exported a total of 7197 workers to Kuwait during the January-March period of the current calendar year as against total export of 236,837 during the same period to different countries.

During the 2004-2024 period, Bangladesh exported a total of 334, 394 to the Gulf country, sharing 2.70 per cent of the total manpower export. Bangladesh exported a total of 36, 548 workers to Kuwait in 2023.

More than 400 guests attended the program including members of diplomatic corps in Kuwait, high civil and military bureaucrats, business leaders, dignitaries, media personalities and members of Bangladesh communities in Kuwait.

In his speech, Md Ashikuzzaman also mentioned that Kuwait was the first Gulf country to recognize Bangladesh after its independence. Since the establishment of diplomatic relations in 1973, Bangladesh and Kuwait are enjoying excellent bilateral cooperation in a wide range of areas including political, economic, export and import, trade and investment, manpower, agriculture, education, tourism and defense sector.

He said that that under prudent leadership of the Amir of Kuwait, Sheikh Mishaal Al-Ahmad Al-Jaber Al-Sabah, and visionary leadership of Prime Minister of Bangladesh Sheikh Hasina, the bilateral relationship between two friendly countries will reach a new height.

In the concluding remarks, the Ambassador called upon all Bangladeshi people living in Kuwait to contribute to their maximum in making Bangladesh "Sonar Bangla" Golden Bengal as dreamt by the Father of the Nation the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Sheikh Firas Saud Al Malik Al Sabah, Minister for Social Affairs, Family and Childhood Affairs and Acting Minister of State for Cabinet Affairs, the State of Kuwait was present as the chief guest at the reception programme. 

Md Ashikuzzaman also greeted chief guest Sheikh Firas Saud Al Malik Al Sabah, Minister for Social Affairs, Family and Childhood Affairs and Acting Minister of State for Cabinet Affairs, the State of Kuwait for gracing the occasion as the Chief Guest.

He also expressed his deep gratitude to the Amir, Sheikh Mishaal Al-Ahmad Al-Jaber Al-Sabah, the government and the people of the State of Kuwait for their continued support to Bangladeshi nationals living in Kuwait.