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US envoy to Bangladesh says SEZs not enough to attract best investors

30 Sep '22
1 min read
Pic: U.S. Embassy in Bangladesh
Pic: U.S. Embassy in Bangladesh

Special economic zones (SEZs) alone are not enough to attract the best investors, according to US ambassador to Bangladesh Peter Haas, who recently told a programme hosted by the International Business Forum of Bangladesh that a smart company considering business overseas certainly wants ‘certainty and security’ as political violence and electoral instability ‘scare’ them.

“It’s one thing to build a special economic zone, but that alone is not enough to attract the best investors,” he said.

Companies want a developed transportation system, consistent access to power and water, and a well-trained workforce and Bangladesh had made great strides in filling these needs, he noted.

There are strong reasons to look at Bangladesh for market opportunities, he said.

“Yes, times are tough. And as the World Bank recently pointed out, Bangladesh needs additional reforms in order to maintain its economic expansion going forward. But so far, the macroeconomic situation seems manageable,” added the envoy.

Fibre2Fashion News Desk (DS)

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