South Korea has recognised Bangladesh as a highly promising investment destination, said FBCCI senior vice president Mohammad Amin Helaly at the signing ceremony.
Korean investment in Bangladesh substantially increased after a special export processing zone was set up exclusively for South Korean investors, he said, adding that FBCCI has set an export target of $300 billion by 2041.
Helaly and KOIMA chairman Byung-Kwan signed the MoU in Dhaka in the presence of Tapan Kanti Ghosh, senior secretary in Bangladesh’s commerce ministry, and South Korean ambassador to Bangladesh Park Young-sik, according to media reports in Bangladesh.
Bangladesh and South Korea are celebrating 50 years of their bilateral ties. The former crossed $55 billion in exports to the latter in fiscal 2022-23.
South Korea is the fourth largest in Bangladesh in foreign direct investment, with a total stock of $1.48 billion till June this year. More than 200 South Korean companies are operating in Bangladesh now.
Helaly also urged South Korean companies to explore joint ventures, and subcontracting arrangements with companies from his country, especially small and medium enterprises.
ALCHEMPro News Desk (DS)
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