Norway to expand business and investment in Bangladesh
BI Report || BusinessInsider
Flags of Norway and Bangladesh
Norway is going to increase its business and investment in Bangladesh.
The statement came during a virtual meeting between Commerce Minister Tipu Munshi and Norwegian Ambassador to Bangladesh Espen Rikter-Svendsen on Wednesday.
“Bangladesh government is giving every opportunity to make it easier to invest in the country. A hundred special economic zones are being created across the country under the initiative taken by Prime Minister Sheikh Hasina,” Tipu Munshi said, adding that many countries have already shown their interest to invest in Bangladesh.
Addressing Norway as a friendly nation, Tipu Munshi further said that Bangladesh is currently a very attractive country to invest in since the government is giving lots of facilities regarding taxes, and it will be profitable for Norway to invest in Bangladesh.
He also said that Norway is importing ready-made garments from Bangladesh. There are possibilities of exporting medicine, ceramic, furniture, frozen fish and leather items to Norway as well.
He said that Norway is a market for Bangladesh at this moment. Since Bangladesh has massive manpower, it is possible for the country to produce goods at the lowest cost.
Emphasising on Bangladesh’s development, Norwegian Ambassador to Bangladesh Espen Rikter-Svendsen said that Norway is happy about it. The country already made a big investment in the telecom sector of Bangladesh, and many other investors of the country are interested to invest in other sectors as well.
He also said that there is a high demand for Bangladeshi ready-made garments items in Norway. The facilities provided by the government to investors are also lucrative.
Adding that businessmen from both countries will work on expanding their businesses, the Norwegian Ambassador said that both of the governments would help them the investors in this regard.
During 2019-20 fiscal year, Bangladesh exported goods worth $64.19 million to Norway and imported goods worth $51.9 million at the same time.
