Bangladesh is working to attract large-scale foreign investment to help achieve the government's ambition of expanding into a one-trillion-dollar economy, according to State Minister for Foreign Affairs Shama Obaed Islam.
Speaking to journalists following a closed-door roundtable on economic diplomacy at the Ministry of Foreign Affairs in the capital, the state minister highlighted the importance of securing capital at the scale required for long-term growth.
The discussions were held as a follow-up to a high-level trade conference held in June as part of the country's expanded diplomatic focus on economic growth and international trade.
State Minister Shama Obaed Islam stated that discussions are already underway with investors from China, Japan, the United States, and several other nations regarding opportunities across key sectors.
International business groups are actively engaging with the Bangladesh Investment Development Authority, the Commerce Ministry, and other state agencies to explore potential partnerships.
The roundtable brought together senior policymakers, including the prime minister's finance and planning adviser Dr Rashed Al Mahmud Titumir, to review the country's economic roadmap.
Delegates discussed key structural topics, including the proposed deferment of Bangladesh's graduation from Least Developed Country status, capital market reforms, and foreign direct investment incentives.
Participants also addressed procedural hurdles and bureaucratic delays that currently affect foreign businesses operating in the country.
State Minister Shama Obaed Islam explained that ministers will review the recommendations to address bureaucratic bottlenecks and streamline approval processes.
She noted that different investor groups face distinct challenges, including non-resident Bangladeshis who encounter specific hurdles when looking to invest in domestic projects.
Addressing broader economic challenges, the state minister said government policies are focusing on rebuilding the banking sector, reforming financial markets, and creating a stable economic environment.
Priority areas for future investment include energy, textiles, ready-made garments, agriculture, and agro-processing industries.
The government is also seeking to develop emerging sectors such as the blue economy, where several European nations have expressed interest in marine and maritime projects.
State Minister Shama Obaed Islam added that cultural diplomacy and sports initiatives will be used to attract foreign interest while ensuring that economic development benefits women and marginalised communities.
