Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 772 Sat. July 29, 2006  
   
Business


UAE investment team arrives tomorrow
Focus on real estate, tourism, power, infrastructure, telecoms


A 10-member UAE investment and business delegation, headed by Khalifa Mohammad Al Muhairi, member of Board of Directors of Abu Dhabi Chamber of Commerce and Industry, will arrive in Bangladesh tomorrow on a two-day visit.

The potential investors, who include members of leading enterprises from the United Arab Emirates, are eyeing real estate, tourism, banking and insurance, financial services, oil and gas, power, infrastructure and telecommunications sectors.

The UAE delegation will hold meetings with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Board of Investment (BoI). The delegation will also visit Dhaka Export Processing Zone (DEPZ) and some industrial parks.

Bangladesh has an abundant supply of natural gas and low cost labour force, even by regional standards, which is a lucrative aspect for investment here.

Despite enormous increase in the prices of petroleum products, the country was able to register nearly 7 percent economic growth during the fiscal 2005-06.

Of late more and more multinational companies are investing in Bangladesh as most of the Bangladeshi products enjoy complete duty- and quota-free access to European Union, Japan, USA, Australia and most of the developed countries.

A number of UAE entrepreneurs have already invested in Bangladesh. Among them, Dhabi Group has invested in telecommunications and banking, Belhasa Group in infrastructure and property development and RAK Group in ceramics.