US firms want to invest in IT, energy

US firms want to invest in IT, energy

US companies are expressing interest in investing in five key sectors in Bangladesh: Information Technology (IT), education, healthcare, energy, and infrastructure, according to John Fay, the commercial counsellor at the US embassy. He emphasized that these sectors, if developed effectively, hold significant potential as Bangladesh progresses towards middle-income status. Currently, the US stands as the largest foreign investor in Bangladesh, with a total investment of $4 billion.

Despite this, there are challenges such as payment issues, restrictions on repatriation, non-transparent regulations, inadequate protection of intellectual property rights, and infrastructural gaps that impede the growth of US and other foreign businesses in Bangladesh. Addressing these challenges is crucial to enhance the investment climate and encourage additional foreign investments. Fay expressed the US embassy’s commitment to working constructively with Bangladesh’s government officials and stakeholders to overcome these obstacles and improve the overall trade and investment climate. He stressed the importance of strategic targeting of new industry sectors for growth. Bangladesh and the US aim to unlock untapped opportunities by assessing potential, identifying obstacles, learning from other countries, and devising strategies to maximize the potential for US stakeholders. Fay also acknowledged the presence of the Bangladesh commerce minister and highlighted the US Department of Commerce’s role in strengthening trade ties between the two nations.

Source: The Daily Star

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