Canada

Canadian business, investment to grow in Bangladesh

Canada is exploring ways to increase and diversify
investment and business cooperation with Bangladesh, which currently enjoys
duty-free access to Canada for its exports, mainly textiles.

“In an
international survey by Japan Bank for International Cooperation in the year
Bangladesh was placed fifteenth in the international ranking of potential
countries for investors and businessmen,” Masud Rahman, President of
Bangladesh-Canada Chamber of Commerce and Industry, told Reuters in an interview
on Thursday.

He said currently Canadian investment in Bangladesh,
including in energy and textile sectors, totaled over $300 million and it can be
increased manifold if Canadian businesses could be lured to take advantage of
incentives that Dhaka offers to them.

In 2009, Bangladesh’s ranking (for
business potential) was 28th, Rahman said.

“Bangladesh offered a number
of lucrative incentives for new investors like tax holiday, hundred percent
expatriation of profit, easier visa process, work permits and cash
incentives.

“Companies from Canada are seriously asking for information
on pharmaceuticals, information and communication technology, plastic goods that
are growing fast in Bangladesh,” he said.

Besides, Canada is a world
leader for hydro power production and Bangladesh can seek Canadian engagement in
its efforts to harness hydro power to overcome its energy shortages, the chamber
chief said

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