Viet­nam keen to in­vest in Bangladesh

Apparel Online - - Beyond India -

Viet­nam is keen to pro­mote its in­vest­ment in Bangladesh, par­tic­u­larly in the fields of Tex­tile and Gar­ment, Telecom­mu­ni­ca­tion, In­for­ma­tion Tech­nol­ogy (IT), Agri­cul­ture, Oil & Gas and In­fra­struc­tures, Bangladesh me­dia re­ports claim, cit­ing Viet­namese Pres­i­dent Tran Dai Quang’s visit to the coun­try. The Viet­namese Pres­i­dent was on a visit to Bangladesh from March

4-6 on the in­vi­ta­tion of Bangladesh Pres­i­dent Mo­ham­mad Ab­dul Hamid to mark the 45th an­niver­sary of Bangladesh-Viet­nam diplo­matic re­la­tions. Ac­cord­ing to the re­ports, Pres­i­dent Quang pledged his in­ter­ests while ad­dress­ing a group of businessmen of both Bangladesh and Viet­nam at a meet­ing ti­tled ‘Viet­nam-Bangladesh Busi­ness Fo­rum’, which was or­gan­ised by Bangladesh Cham­ber of Com­merce and In­dus­try (FBCCI) in Dhaka. “Here are a lot of op­por­tu­ni­ties for in­vest­ments with the cur­rent size of the econ­omy of Bangladesh. It is a big mar­ket and has low-cost pro­duc­tion fa­cil­ity due to its cheap labour cost,” Pres­i­dent Quang main­tained. Terming the re­la­tion­ship be­tween Bangladesh and Viet­nam as ‘his­tor­i­cal’, the Pres­i­dent also ex­pressed his ut­ter ea­ger­ness to take the bi­lat­eral trade re­la­tions to a new height.

“We would like to take the bi­lat­eral trade be­tween the two coun­tries to US $ 1 bil­lion by the end of this year. We have a tar­get to take the bal­ance of bi­lat­eral trade to US $ 2 bil­lion by the end of 2020,” Pres­i­dent Quang de­clared. The bi­lat­eral trade vol­ume be­tween Bangladesh and Viet­nam was worth US $ 900 mil­lion in 2017-18 fis­cal, which is heav­ily en­ti­tled in favour of Viet­nam, thanks to Bangladesh’s in­creas­ing tex­tile im­ports from the coun­try. Mean­while, Bangladesh Com­merce Min­is­ter To­fail Ahmed rep­re­sented Bangladesh Gov­ern­ment at the meet­ing and of­fered a SEZ for Viet­namese in­vestors to boost fur­ther For­eign Di­rect In­vest­ment (FDI) in the South Asian Coun­try. Markedly, EZs will pre­dom­i­nantly have gar­ment man­u­fac­tur­ing units.

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