Qatar and Bangladesh are working aggressively to foster their economic ties and level of cooperation in several new areas, which may also include establishing a Qatar-specific economic zone in the South Asian nation, Salman F Rahman, Private Industry and Investment Adviser to the Prime Minister Sheikh Hasina, recently told The Peninsula in an exclusive interview.
Over the years, Bangladesh has emerged as one of the fastest-growing economies in the world. There have been constant efforts from the government to achieve industrialization and economic diversification to further enhance the growth of export-oriented manufacturing hub in the region. In addition to this, the country is also developing close of 100 Special Economic Zones (SEZs), which are uniquely designed to be country specific— to achieve uniform economic growth, employment opportunities and reduce poverty.
Major countries like China, India, South Korea, among others, have already started developing their country-specific SEZs in Bangladesh. “I invite Qatari businessmen to come and take an exclusive economic zone which will be only for Qataris. These zones would be well connected with world-class infrastructure, including road and rail,” told Salman F Rahman to the Newspaper.
The initiative to build SEZs can be highly beneficial, given the potential foreign direct investment (FDI) besides benefits such as production and trade at a lower price. Rahman, who recently led a trade delegation, added, we are working to strengthen the bilateral relations between the two nations and are hopeful that such engagements would help in developing business, trade and investment.
Furthermore, Bangladesh has also been providing a special focus on digital economy and IT services. As per the World Economic Forum’s Global Competitiveness Index, the country has outperformed most of its South Asian neighbours in adopting Information and Communications Technology (ICT).
Providing an overview of the Bangladeshi economy, Rahman said that one of the greatest achievements of the country is its inclusive growth story which has lifted millions of people out of poverty.
In a globally competitive environment, we are following strategies to attract more investments. One benefit of investing in Bangladesh is its domestic market and access to neighbouring countries, thereby mutually benefiting both Bangladesh and Qatar. We are a young country which enjoys huge demographic dividend with skilled labours, with an average age below 27 years, Rahman added.
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