After Bangladesh started its journey of 100% export-oriented readymade garment (RMG) with the help of South Korea, the East Asian country is now keen to develop the two countries' success in other sectors as well.
Mentioning South Korea as the 5th largest country in terms of foreign direct investment in Bangladesh, South Korean Ambassador Lee Jang-Keun in a courtesy call on FBCCI President Md Jashim Uddin on Sunday said Seoul wants to take the bilateral relations to a new level in 2022, marking the 50th anniversary of Bangladesh-South Korea diplomatic relations.
Therefore, efforts are being made to increase Korean investment in other sectors besides the RMG sector, the ambassador added.
Desh Garments was established in a joint venture with the Korean Daewoo Corporation. As many as 130 workers and staff were sent to South Korea for six months of training. Many of those trained now own garment factories. Many Korean entrepreneurs have also invested in this sector in Bangladesh.
During the meeting, the FBCCI president called upon Korea to invest in Bangladesh's infrastructure sector and the man-made fibre sector.
Bangladesh is enjoying a golden time for investment due to its huge domestic market, growing exports, easy availability of power and infrastructure, government policy support and a large working population. The countries that take advantage of this opportunity will benefit, FBCCI president added.
The business leader further said that the apex trade body will discuss with Investment Development Authority on organising roadshows or investment summits in Korea to highlight the investment opportunities in Bangladesh.
The meeting decided to hold a business dialogue this year in a joint venture between the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) and FBCCI.
Among others, FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President MA Momen, Md Amin Helaly, Md Habib Ullah Dawn, Director Mohammad Anwar Sadat Sarkar, Md Rezaul Kariem Rejnu, Nadia Binte Amin, Md Nizam Uddin, Naz Farhana Ahmed, President of KBCCCI and Chairman and MD of Meghna Group of Industries Mostafa Kamal, Advisor Sahab Uddin Khan, Director General of Korea Trade-Investment Promotional Agency Kim Dong Hyon, First Secretary of the embassy of the Republic of Korea Lee Jungyoul and FBCCI Secretary General Mohammad Mahfuzul Hoque were present during the meeting.