Interim Government Aims to Attract Foreign Investment for Economic Reform in Bangladesh
In an effort to promote foreign investment and job creation in Bangladesh, the interim government is working to create a conducive environment as part of broader national reforms. This initiative was discussed on Sunday at a meeting held at the Secretariat between Nahid Islam and South Korean Ambassador to Bangladesh, Park Young-sik.
Ambassador Park highlighted South Korea's position as the fourth-largest investor in Bangladesh, with companies like Samsung and LG already operating in the country. However, he noted that high tax rates are increasing production costs, impacting these businesses. He suggested implementing the National Equipment Identity Register (NEIR) to curb illegal mobile phone usage and expressed interest in joint investments with Bangladesh.
In response, the advisor stated that tax adjustments are under the purview of the National Board of Revenue and will be considered during the economic reform phase, ensuring no adverse effects on other sectors.
Sheesh Haider Chowdhury, Secretary of the Information and Technology Division, emphasized the government’s commitment to supporting local manufacturing industries. Dr. Mushfiqur Rahman, Secretary of the Posts and Telecommunications Division, invited Ambassador Park to consider investment in the state-owned Telephone Shilpa Sangstha (TSS) Limited.
The meeting was attended by Deputy Chief of Mission Jinhee Baek, Samsung Bangladesh Country Manager Hwang Seung-oh, and other senior officials from the ministry.
