Arunachal seeks investment by Bangladeshi entrepreneurs
Reported by: UNBConnect
Reported on: May 31, 2012 03:41 pm
Reported in: Business
Dhaka, May 31 (UNB) - Arunachal Pradesh Chief Minister Nabam Tuki on Thursday invited Bangladeshi entrepreneurs to invest in the northeast India in prospective areas, including hydropower generation and tourism sectors. “We’ve an estimated hydropower potential of more than 57,000 MW. The State government is looking at business investment in the generation sector through Build-Own-Operate and Transfer (BOOT) basis,” Tuki told the inaugural session of the Indo-Bnagla Trade Fair at Sonargaon Hotel. The CM said a closer economic integration and physical connectivity with Bangladesh would reduce not only economic isolation of the region but also the isolation of the northeast with the mainland India. Finance Minister AMA Muhith, who was the chief guest at the function, however, did not give any clear indication when the government would allow Bangladeshi investment abroad. “We said earlier, it’s one and half years ago, we would entertain some investment aboard case by case basis…and certainly India would be very good destination to that end,” the Finance Minister said. On opening offices by Bangladeshi companies in India, Muhith said he would request the Bangladesh Bank to be generous in this regard. He emphasised better business contact with India to help grow business between the two countries. Industries Minister Dilip Barua, Tripura Industries Minister Jitendra Chaudhury, Indian High Commissioner in Dhaka Pankaj Saran, Country Head of the State Bank of India Pinak Chakraborty, Asam Public Health Engineering Minister Gautom Roy and Executive Director of GLOBAT Sayeed Hassan also spoke on the occasion.President of India-Bangladesh Chamber of Commerce and Industry (IBCCI) Abdul Matlub Ahmad presided over the meeting. Speaking as a special guest, Dilip Barua said the fair would be a milestone for strengthening bilateral cooperation and technology transfer between Bangladesh and India. He proposed a free-market zone with zero tariff for the Saarc member countries with the spirit of Safta for sustainable regional development and cooperation and the betterment of the common people. Indian envoy Pankaj Saran said the high-level delegation from India reflects India’s larger engagement in Bangladesh. “This is very good trend…I’m confident that we both will be able to explore opportunities through the event.” Matlub Ahmad said the trade and investment opportunities of India and Bangladesh are now on an excellent platform. “We’ve just witnessed India opening up its market to Bangladesh with zero duty for all Bangladeshi products.” He sought government support to allow Bangladeshi businessmen to invest in India, at least ten percent of one’s export, to have better business. “Bangladesh has a quite large market in India, especially in its northeastern region because of its geographical proximity and lower transportation cost,” he said seeking government permission to set up offices in India for better business operation.Matlub informed that both the Indian Commission in Dhaka and Bangladesh High Commission in New Delhi are issuing one-year multiple visas for businesspeople which will help strengthen trade ties between the two countries. India-Bangladesh Chamber of Commerce and Industry (IBCCI) with support from the Indian High Commission in Dhaka and active cooperation from the Confederation of Indian Industry (CII), Indian Chamber of Commerce (ICC), Federation of Indian Export Organisations (FIEO), Bengal Chamber of Commerce, BNCCI and Merchants Chamber, Kolkata organised the three-day event at Sonargaon Hotel. A business conclave titled ‘North East India-Bangladesh Business Conclave’ was also held on the sidelines aiming to attract Indian entrepreneurs to Bangladesh and expand trade ties with the northeast Indian states.
View Full Site