With improving education, health, technology and economic growth as well as the resulting increase of purchasing power of a large population of 160 million people, Bangladesh has a growing domestic market. Apart from that, Bangladesh also has substantial access to regional and international markets in terms of physical proximity as well as duty free status in EU, Japan, Canada, Australia and most other developed countries. Bangladesh builds a bridge between South Asia and South East Asia. Bangladesh looks forwarding to an expanded market in other developing countries in view of its active participation in organizations having economic orientation such as SAARC, BIMSTEC, BIMC Economic Corridor, Developing-8, Indian Ocean Rim Association and so on. The existing and potentially large market of Bangladesh is making her increasingly attractive to investors.
The Foreign Private Investment (Promotion & Protection) Act 1980 provides protection for investments made in Bangladesh. Bangladesh is also a signatory to the Multilateral Investment Guarantee Agency (MIGA); Overseas Private Investment Corporation (OPIC), USA; International Center for Settlement of Investment Disputes (ICSID); and World Intellectual Property Organization (WIPO). Bangladesh has bilateral agreements to avoid double taxation with 28 countries including Sri Lanka. These legal bases make Bangladesh a safe destination of investment.
Bangladesh inherits a largely homogeneous and harmonious society. People belonging to different religions live peacefully. Bangladesh is a democratic country with broad political consensus on pursuing market economy. This speaks volumes for socio-political environment conducive to private sector investment.
Unlike older industrialized societies with growing legions of ageing dependents, Bangladesh has a very youthful demography. About 59.3 % of the population are economically active (15 years and over). Although national language is Bengali or 'Bangla', yet English is widely spoken, understood and written. Indeed, more than 90% of staff at management level is fluent in English.
Comments
Comments are closed.