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The American Chamber of Commerce in Bangladesh (AmCham) has set a target of attracting an additional $5 billion in US investment over the next four and a half to five years.
AmCham leaders said the upcoming 30th US Trade Show would help advance the target by connecting Bangladesh with American businesses and potential investors.
Speaking at a press conference in Dhaka on Monday, AmCham President Syed Mohammad Kamal said the organisation was not claiming that the entire $5 billion would necessarily be secured through the trade show, but the event would help facilitate the process.
The exhibition will be held from November 5 to 7 at the InterContinental Dhaka, with support from the US Embassy. The event is returning after a gap of around two and a half years.
Kamal said that during a meeting with the prime minister on August 11, AmCham had highlighted that the United States had invested around $5 billion in Bangladesh over the past 15 years. They also discussed ways to attract another $5 billion over the next four and a half to five years.
He said there was potential to attract even more investment, adding that future AmCham leadership could continue the initiative if the current board could not achieve the target.
Kamal identified energy security as the most critical factor in attracting investment and said AmCham was working with the government on the issue. He also expressed hope that the government would announce an energy roadmap soon.
The trade show will also feature a dedicated seminar on energy.
Rather than pursuing investment across all sectors, AmCham has identified priority areas where US technology and innovation could create greater value addition in Bangladesh.
Organisers said American chambers from other countries had also been invited, with representatives from several expected to attend. Some potential investors who have yet to establish operations in Bangladesh will also participate.
Kamal said attracting 10 to 12 new foreign companies to invest in Bangladesh would be the event’s biggest achievement.
Companies and exhibition highlights
According to organisers, the exhibition will feature 36 companies and seven startups, with a total of 63 booths.
Participating or represented US companies include Caterpillar, Chevron, ExxonMobil, MetLife, Citigroup, Mastercard, Visa, Colgate-Palmolive, Philip Morris International, PepsiCo, Costco Wholesale, PPG, UPS and Cargill.
Separate zones will showcase power and energy, ICT and the digital economy, banking and financial services, FMCG, manufacturing and logistics, education, and agribusiness. There will also be a startup zone, a carnival zone for direct consumer purchases and a heritage corner highlighting the trade show’s history.
Six thematic seminars will cover power and energy, healthcare and medical technology, ICT and the digital economy, women’s leadership, investment in the United States through SelectUSA, and Bangladesh-US trade relations.
AmCham leaders said industry experts would join the panel discussions, while government representatives would attend all but one of the sessions.
The exhibition will remain open daily from 10am to 8pm.
AmCham said it pioneered the trade show culture in Bangladesh, with the event first launched in 1992 before being suspended for several years. The organisation is also celebrating its 30th anniversary this year.
Paul G Frost, commercial counsellor at the US Embassy in Dhaka, attended the press conference.
