Doha Bank plans to explore liquid investment in Bangladesh

Chief executive officer of the Doha Bank Dr R Seetharaman said the bank is going to explore liquid investment in Bangladesh to take the huge investment opportunities of the country.

“We have an investment profile in terms of exchange and refunds and institutions can invest similarly. We are also going to explore now in liquid investments in Bangladesh,” he said while speaking at a webinar titled “Bi-lateral and Synergistic Opportunities between Qatar and Bangladesh” jointly organized by Bangladesh Forum Qatar and Doha Bank on Wednesday, said a press release today.

Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) President Sheikh Fazle Fahim, Country Chief Executive Officer of Standard Chartered Bank Bangladesh Naser Ezaz Bijoy and Ambassador of Bangladesh to Qatar Ashud Ahmed, among others, spoke on the occasion.

Sheikh Fazle Fahim said Bangladesh and Qatar should look forward to enhancing diversified engagements in trade considering Bangladesh’s highly potential investment ecosystem including economic zones with tax and tariff incentives.

“We hope potential investors from Qatar would continue to consider Bangladesh’s investment potential in energy, power, infrastructure, technology, halal ecosystem, green renewable energy, start-ups, innovation knowledge and resource share for complimentary cooperation,” he added.

He said “Bangladesh has a vibrant domestic market of 160 million. We have market access through multilateral South Asia Free Trade Agreement (Safta) market access of 1.8 billion in South Asia Association Regional Cooperation (Saarc). Everything but Arms (EBA) has duty-free and quota-free (DFQF) market access to the European Union, India, China, Canada, Australia, New Zealand, Asia Pacific Trade Agreement (APTA) and preferential access to a number of additional markets with a competitive edge in production.”

Japan External Trade Organisation (Jetro) study finds Bangladesh as a top destination for Japanese investments in the Asia Pacific.

Mentioning the two countries’ long-standing relationship and engagements in service, energy partnership, and human development, he opined that there is room for a reasonable balance of trade expansion for diversifying trades such as export of FMCG, agro-processed goods, leather, footwear, pharmaceuticals, ceramics and ICT.

Naser Ezaz Bijoy highlighted six drivers of Bangladesh’s economic growth: apparel industry, commerce, remittance, power generation, infrastructure and digital space and said in the last 12 years, Bangladesh had delivered a 400 percent growth and their operation is the most profitable bank in Bangladesh.

“Investment in government bond is an opportunity because yields are much better in Bangladesh as a currency is quite stable. Capital market, where Qatar is quite liquid, Qatari banks and other financial institutions can invest,” he said, adding that double taxation awareness treaty would help Qatari investors get maximum benefit.

Ashud Ahmed said the relation between Bangladesh and Qatar is traditionally based on labours.

“Bangladesh government has been providing excellent facilities and incentives for the prospective investors from various countries of the world and Qatar can look into Bangladesh… Bangladesh itself is a big market and the bridge between South Asia and South-East Asia.”

The authorities concerned of both the countries sat in several discussions to diversify the relation keeping the labour trade intact, he added.

The chief representative of Doha Bank Bangladesh Representative Office Ajay Kumar Sarker passed the closing remarks of the programme while Bangladesh Forum Qatar Vice President Jafar Ali Al-Saraf, also VP of Gulf Exchange, presided over the whole event. Source:BSS