Swedish firms may invest in Bangladesh RMG sector

Two Swedish firms, Investor AB and ABB Sweden have showed interest in making investment in Bangladesh readymade garment (RMG) sector. The investment will improve the economic conditions of both the countries, said Bangladesh prime minister Sheikh Hasina during her visit to Sweden. Bangladesh is the second largest apparel exporter in the world.

Hasina was in Stockholm for Bangladesh-Sweden Investment Forum. During the meet, a memorandum of understanding was signed between Sweden-Bangladesh Business Council, Stockholm, and Nordic Chamber of Commerce and Industries to strengthen cooperation in the areas of trade and investment, prime minister's press secretary Ihsanul Karim told media.

"I strongly encourage you, the leaders of Swedish business and industry to partner with us in investment, trade, and innovative businesses for a shared prosperity. Together we can bring a change in the lives of millions in both our countries," said Hasina while addressing a business dialogue of Bangladesh-Sweden Investment Forum.

Setting up of business in Bangladesh is comparatively cheaper, said Hasina while adding that the country has duty free and quota free access to the markets of Australia, India, EU, New Zealand and Japan. Apart from the development of hi-tech parks, 100 Special Economic Zones (SEZs) will also be set up in Bangladesh.