Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 785 Fri. August 11, 2006  
   
Business


KL may relocate labour-based industries to Bangladesh


Malaysian government and businesspeople are contemplating relocation of their labour-based industries to Bangladesh as the country is now opted for technology-based industrialisation, a top official of Malaysian agency for industrial development told Tuesday when a visiting Bangladesh business delegation met her at Kuala Lumpur.

MIDA Director Jalilla Baba said her organization will apprise her country's businesspeople of the potential investment sectors of Bangladesh after conducting a study on it.

Aiming at searching and attracting foreign investment to Bangladesh, a high profile trade delegation from the Dhaka Chamber of Commerce and Industry (DCCI) is now on a visit to Malaysia, said a press release.

The delegation held business meetings with Small and Medium Industries Development Corporation (SMIDEC), Malaysia, Federation of Malaysian Manufacturers (FMM), Associated Chinese Chamber of Commerce and Industry in Malaysia (ACCCIM) and Malaysia South-South Association (MASSA) during the last three days.

At the SMIDEC auditorium, the delegation leader and DCCI President M A Momen highlighted the trade and investment scenario of Bangladesh in a discussion on Trade and Invest in Bangladesh.

On behalf of the SMIDEC, its chief executive Datuk Hafsa Hasim led their part. The meeting discussed the present situation, future plan and other incentives of small and medium enterprises of both the countries.

The head of the Bangladesh delegation listed some of the special incentives the Bangladesh government offered to the foreign investors and urged his Malaysian counterparts to avail of this offer.

M A Momen said Bangladesh is a good destination for the foreign entrepreneurs now as it is experiencing a higher economic growth despite some obstacles.

On import of Bangladeshi manpower, Datuk Hafsa assured the delegation that they had already asked their government for taking necessary action in this regard as the small and medium industries in Malaysia are depended on migrated labour force.

The Bangladesh delegation also urged the Malaysian businessmen to consider import of medicine from Bangladesh because Bangladeshi medicines now a days are being exported to many countries.

Highlighting the business-friendly policy of Bangladeshi government, the Dhaka chamber chief mentioned that Bangladeshi products are now getting duty-free access to the markets of the developed countries.

Datuk Hafsa invited the Bangladeshi businessman to join the forthcoming Trade Fair in Malaysia and display their products. She informed the delegation that the SMIDEC would play the role of a co-ordinator between Bangladeshi and Malaysian businessman.

The business delegation also held a meeting with FMM on the same day. FMM past president Datuk Mostofa Mansur led the Malaysian businessmen in the meeting. They discussed about exploring trade of telecoms, leather and leather goods, light engineering products, oil and gas based products, construction, furniture and chemicals between the two countries.

Later, the delegation held one to one business meetings with the members of ACCCIM. ACCCIM past president Ter Leyong Yape led their part. Yape stressed the need for diversification of Bangladeshi products. He said Bangladesh is exporting only 7/8 products to 5/6 countries.

He told the delegation that the Malaysian businessman are keen to invest in jute sector in Bangladesh.

DCCI directors Manzur-Ur-Rahman Ruskin, Abdus Salam, M. Shahjahan Khan, M. A. Muhaimin Saleh, Md. Alauddin Malik, Haider Ahmed Khan, Mohammad Sharfuddin, Shafiq Hossain and Saiful Islam of Daffodil Group were included in the Bangladesh delegation.

Picture
Leader of the visiting Bangladesh delegation and DCCI President M A Momen presents a crest to SMIDEC Chief Executive Datuk Hafsa Hasim on Tuesday at Kuala Lumpur. Photo: DCCI