Netherlands pledges more FDI in Bangladesh

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Netherlands pledges more FDI in Bangladesh

The Netherlands wants to take the second position in making foreign direct investments in Bangladesh in the next financial year, Carel Richter, chargé d'affaires of the Netherlands embassy, said yesterday.

“We are in the third position in terms of FDI by investing $200 million in Bangladesh last year,” Richter said.

Bangladesh received foreign direct investments of $1.13 billion last year.

“We have invested in Bangladesh more than the United Kingdom but less than the United States.”

Richter disclosed his plan at a discussion on “business to business promotion by the Netherlands” jointly organised by the Netherlands embassy and DCCI at the chamber's office in Dhaka.

“We are doing business in Bangladesh carrying out our social and environmental responsibilities as we always remain aware and watchful about ensuring better work environment,” he said.

“We are moving quickly to develop business relations with Bangladesh.”

The Netherlands plans to finance 50 percent of the total investment in a joint venture format with Bangladeshi companies in any export oriented project, said Barry Brouns, senior project officer of the private sector investment programme in Asia.

Bangladesh exported $961 million to the Netherlands last year and imported $138 million, said Sabur Khan, president of DCCI.

The Dutch entrepreneurs may import more international standard Bangladeshi products including readymade garments, ceramics, jute and jute goods, leather goods, plastic items and pharmaceuticals, Khan said.

“Support from the Netherlands embassy will help our entrepreneurs diversify their products and at the same time explore new markets,” he said.

“Our main objective is to promote bilateral trade and investment between the Netherlands and Bangladesh,” said Shahzada Hamid, president of Dutch Bangla Chamber of Commerce and Industry.

Bangladesh has strong potential for investment as the country has never experienced negative GDP growth in the last 30 years, Hamid said.