Photo : Messenger
Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator in the country, takes a strategic leap towards fostering international investment as it hosts a significant roadshow in South Africa, which promises to unlock new opportunities for Bangladesh and strengthen its economic ties with Africa's leading economies.
The BSEC has taken this initiative with a keen eye on expanding the horizon of the country's growing capital market.
In August last year, a conference titled 'The Rise of Bengal Tiger: Bangladesh Trade & Business Summit' was held in Johannesburg, South Africa.
Businessmen participated in discussions titled 'New Business Avenues and Opportunities Between South Africa and Bangladesh'. According to BSEC sources, nine individuals, institutions, and organisations have expressed interest in investing in eleven sectors of the country.
According to BSEC data, the nine entrepreneurs are interested in sectors such as RMG and textiles, pharmaceuticals, automobile spare parts, MMF (Man-Made Synthetic Fibre), underground and overhead copper-steel cable industries, sports industry, petrochemical products, gems, gold, and diamond cutting factory. They also plan to invest in coal, iron ore, and metal products, as well as trading mainly in fruits and the food sector. Out of the nine entrepreneurs, six are women and three are men. The delegation of nine members will meet the BSEC and Bangladesh Investment Development Authority (BIDA) during their visit to Bangladesh from March 11 to 16, alongside meeting the concerned sector officials.
The nine entrepreneurs are as follows: The chair of the South Africa Chapter of the Indian Ocean Rims Business Forum (IORBF), Nokuthula Patience Ndlovu. Black Business Council - CEO, Kganki Shepherd Matabane, Izbona Somnotho Group (Pty) Ltd - Commercial Director, Brilliant Thandazile Nkosi.
The New Look - Director, Precious Badele Patience Ntombela. The AIH Group, Vivien de Klerk and Abram Johannes Lodewyk de Jager. Inside Out Wellness Solutions-General Practitioner, Nozizwe Olgah Nkuna. Transnet Property, Thobile Mpungose and self-employed Felicia Thandeka Dlamini.
Among these entrepreneurs, Nokuthula Patience Ndlovu intends to invest in information technology, automotive, textile, coal and diamond cutting, and events and sports industry sectors. Brilliant Thandazile Nkosi plans to invest in cargo handling/shipping and the coal sector, while Precious Badelile Patience Ntombela will invest in the textiles and diamond cutting sector. Vivien de Klerk and Abram Johannes Lodewyk de Jager will invest in automotive sector, while Nozizwe Olgah Nkuna will focus on pharmaceuticals and healthcare. Besides, Thobile Mpungose will invest in trading mainly fruits, food, and Felicia Thandeka Dlamini will invest in RMG and textiles, also trading mainly in fruits and the food sector.
Earlier, a roadshow was held in Japan. Following the roadshow, Japanese entrepreneurs have also begun investing in Bangladesh. Last year, in April 2023, one person and two institutions invested directly in the capital market. These three investors bought shares worth Tk 114 crore 31 lakh 43 thousand 986 in Islami Bank, Olympic Industries, and BDcom from the market.
BTA Wealth Mgt Ltd is among the three investors, which bought 3 crore 42 lakh 31 thousand 844 shares of Islami Bank for Tk 111 crore 59 lakh 58 thousand 114. On the same day, an investor from Norway purchased 1 lakh 50 thousand shares of Olympic Industries for 2 crore 61 lakh 44 thousand 472 taka. Additionally, an investor named Naqib Alam Khan bought 7 thousand shares of BD Autocar for Tk 10 lakh 41 thousand 400.
BSEC Executive Director and Spokesperson, Mohammad Rezaul Karim, told The Daily Messenger, “Since the roadshow in Dubai, United States, Switzerland, United Kingdom, and Qatar, foreign and expatriate entrepreneurs have been coming to invest one after another. They observe the capital market and economy of Bangladesh and make investments, being attracted to..."
BSEC Chairman, Professor Shibli Rubayat Ul Islam told The Daily Messenger, “Bangladesh is now a developing country, and its capital market and economy are emerging. Investing here guarantees profit. Therefore, now is the best time for foreigners to invest in Bangladesh."
"While announcing this to the world, roadshows are being arranged in different countries to brand Bangladesh. Efforts are being made to attract expatriates and foreigners to Bangladesh by highlighting its positive aspects and the potential of its capital market. Consequently, foreign investments continue to flow,” the BSEC Chairman added.
When asked, the caretaker government's Finance Advisor, AB Mirza Azizul Islam, said that branding Bangladesh is not BSEC's responsibility. However, the commission's efforts are enhancing the country's reputation globally, attracting foreigners to invest.
In this regard, Lokman Hossain Miah, Executive Chairman of BIDA, said that due to the global roadshow, Bangladesh's investment issues have been highlighted, and various initiatives have been undertaken to address them. Investors are now encouraged to seek hassle-free and seamless services from us.
Salman Fazlur Rahman, Private Industry and Investment Adviser to the Prime Minister, emphasised the necessity of the roadshow titled ‘BSEC and Bidder Branding Bangladesh.’ He said, “Thanks to the BSEC for initiating it, which has resulted in continuous interest among foreigners to invest in Bangladesh, particularly in the IT, pharmaceuticals, and industrial sectors.”
Messenger/Disha
