Bangladesh invited Korean companies to invest in Bangladesh in Seoul on Monday.
At the ‘Gateway to Growth: Invest in Bangladesh’ seminar attended by over 150 Korean business leaders, organizers highlighted Bangladesh’s investment potential in key industries.
The event was part of a broader mission led by Bangladesh Investment Development Authority Chair Ashik Chowdhury with officials from Bangladesh’s National Board of Revenue, Bangladesh Economic Zones Authority and the banking sector.
Chowdhury offered the assurance of full support for Korean investors, calling it the ideal time to align with Bangladesh’s growth and to seize emerging opportunities.
The Bangladesh Embassy in Seoul said in a statement that with Korean foreign direct investment at $1.56 billion across 150+ companies, South Korea stands as the fifth-largest foreign investor in Bangladesh.
In his remarks at the event, Bangladesh Ambassador to the Republic of Korea Toufiq Islam Shatil invited Korean companies to partner for Bangladesh’s development journey.
Shatil noted that Bangladesh could be the ultimate gateway for Korean businesses in South Asia with the recent bold transformations undertaken by BIDA to facilitate investment.
“There has never been a better time to enter Bangladesh,” said Nahian Rahman Rochi, head of business development at BIDA, referring to Bangladesh’s present status as similar to that of South Korea in the 1980s.
According to Rochi, macroeconomic indicators from exports and currency stability to inflation are at their most favorable levels in recent years despite global uncertainties.
The release noted that the government has launched 32 reform initiatives to ease business entry, with BIDA offering comprehensive support through its One Stop Service platform.
Lee Min-Suhk, president of Youngone Corp., spoke of his company’s four decades of successful operations, achievements and commitment to social responsibility in Bangladesh.
Youngone has invested $600 million and employs over 30,000 people in Bangladesh, alongside other major Korean investors such as Samsung Electronics and Hyundai, which run assembly and manufacturing operations in Bangladesh, according to the embassy.
sanjaykumar@heraldcorp.com