Prime Minister Of South Asia’s Fastest Growing Economy Invites Sustainable And Green Investment

Prime Minister Of South Asia

The Prime Minister of Bangladesh has invited the UK’s private sector and capital markets to partner in long term sustainable development and green investment opportunities at the Bangladesh Investment Summit 2021: Building Sustainable Growth Partnership

5th November 2021, London – Following the appearance of Sheikh Hasina, Prime Minister of Bangladesh, at the COP26 conference on Monday 1st November, Her Excellency yesterday discussed the remit of Bangladesh’s first green bond and invited UK investment into green and sustainable projects in South Asia’s fastest growing economy.

The Prime Minister’s speech was delivered at the Bangladesh Investment Summit 2021: Building Sustainable Growth Partnership, held in London at the Queen Elizabeth II Centre on Thursday 4th November 2021. UK investors were called upon to invest in a wide range of sectors including renewable energy, shipbuilding, automotive, light engineering, agro-processing, blue economy, tourism, knowledge based hi-tech industries, and ICT. 

The London Investment Summit is regarded as a key step in strengthening the partnership between Bangladesh and the UK. It was hosted by a high-level government delegation from Bangladesh alongside the Honourable Prime Minister, including the Chairmen of both the Bangladesh Securities and Exchange Commission and the Bangladesh Investment Development Authority, as well as the UK High Commissioner for Bangladesh. It was also attended by a range of senior representatives from the UK government – including Rt Hon Penny Mordaunt MP, Minister of State for Trade – as well as major corporates, banks and investment organisations. 

The event featured a presentation on the potential of trade and investment in Bangladesh, a panel discussion on investment for sustainable growth, as well as speeches by high-profile business leaders and parallel sessions.

Following the summit, Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities Exchange Commission, said: “Bangladesh has experienced extraordinary growth to become a Middle-Income nation, and is now South Asia’s fastest growing economy. Despite the COVID-19 pandemic, Bangladesh is on target to achieve a GDP of USD 500bn by 2026, likely overtaking powerhouses including Hong Kong, Singapore, and Malaysia. We’re thrilled that we have been able to demonstrate at the summit the promising opportunities and lucrative returns available for foreign investors in Bangladesh.”

Mohammad Sirazul Islam, Chairman of the Bangladesh Investment Development Authority (BIDA), said: “We’re delighted with the response we’ve had from investors at this Bangladesh Investment Summit in London and we’re looking forward to hosting our next roadshow in Manchester. We seek diversification in our trade and investment, with a focus on green infrastructure and the blue economy. The UK is the perfect partner in this, with extensive experience in this area.” 

Saida Muna Tasneem, UK High Commissioner, said: “We’re very proud to be a partner for the Bangladesh Investment Summit. The UK and Bangladesh have a long history and operate in close partnership, with the UK currently Bangladesh’s third largest trading partner. This summit has enabled UK investors to see even more potential in Bangladesh, and we look forward to continuing to grow the partnership between our two nations.” 

Bangladesh is making leaps and bounds in addressing the challenge of being a climate-vulnerable country. In her COP26 address, the Prime Minister outlined the steps being taken including doubling climate-related expenses over the last seven years, investing in significant renewable energy programs, and cancelling plans for extensive coal-based power plants. The Prime Minister is one of the most vocal leaders internationally on tackling climate change and has been conferred the ‘SDG Progress Award’ by the UN-sponsored Sustainable Development Solutions Network for Bangladesh’s steady progress in achieving the Sustainable Development Goals (SDGs).

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.