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Saudi Businesses Encouraged to Invest in Growing Bangladeshi Industries | Sonali Bank

Bangladeshi Prime Minister Sheikh Hasina has extended the invitation to Saudi entrepreneurs to start investing and building within huge emerging sectors and industries.

Promising a journey of shared profit and prosperity, as well as full governmental support and cooperation, it’s an offer designed to kick-start investment, and get local industries flourishing.

Bangladesh has been rapidly developing and improving over the last few decades. With one of the fastest growing economies in the world, the PM aims to pursue that growth and hit that potential with investment from Saudi entrepreneurs.

Bangladesh has Multiple Large Emerging Sectors

With the PM going ahead with ten growth and employment-centric mega projects, the government is looking to take up and encourage growth and diversification in areas such as infrastructure, high-tech, connectivity, health, tourism, and education.

There have even been 2,000 acres of land set aside for Saudi investors and entrepreneurs. That’s enough provision for a huge range of varied projects, businesses, and enterprises, and it makes for a very tempting offer for investors.

Flexible, Committed Workforce

Bangladesh offers a committed, young and easily trainable workforce with competitive wages, which, combined with low general costs, makes for low costs when it comes to setting up businesses.

Tax Incentives

The government is also offering a variety of extremely generous tax incentives and a liberal investment policy. This includes a solid tax holiday, duty-free import of raw materials, concessionary duty of import of machinery, remittances on royalty, unrestricted exit policy, full repatriation of dividend and capital on exit, 100% foreign equity and the protection of FDI by law.

On top of that, Bangladesh holds an extremely strategic location, offering access to a wide variety of large duty-free, quota-free markets, including Australia, India, Canada, and New Zealand.

Bangladesh is Rapidly Changing

One of the more staggering statistics about Bangladesh centres on the shift in poverty rates. Back in 2006, 41.5% of the population were below the poverty line, in 2018, that figure is just 21.8%. The UN has declared Bangladesh eligible to graduate to a developing country.

With one of the fastest growing economies in the world, in spite of global economic problems, Bangladesh is a quickly rising contender when it comes to business investment.

Like multiple nations before it, Bangladesh looks set to soon have its own flourishing high-tech, tourism, health, and education industries, with Saudi investment coming in, that’s going to happen sooner rather than later.

It’s a Very Tempting Invitation

With a solid, committed workforce, plenty of land, a supportive government, tax incentives, and cheap running costs, there’s a huge number of reasons to take a look at investing in Bangladesh.