Play store
Dhaka: The American Chamber of Commerce in Bangladesh (AmCham) is working to attract an additional $5 billion in US investment over the next four and a half to five years, with the 30th US Trade Show, scheduled for November 5-7 in Dhaka, expected to play an important role in achieving the target.
AmCham President Syed Mohammad Kamal disclosed the plan at a press conference in Dhaka on Monday, saying around $5 billion in investment had come from the United States to Bangladesh over the past 15 years.
He said discussions had been held with the government on the possibility of attracting another $5 billion in US investment over the next four and a half to five years.
“We are not claiming that the entire $5 billion investment will materialise. However, this trade show will make it easier to achieve the target,” Kamal said.
He added that AmCham had also raised the issue during a meeting with the Prime Minister on August 11.
Kamal said Bangladesh had considerable scope to attract more US investment, but energy security remained the most important factor in this regard.
AmCham is working with the government on the issue and expects to receive an energy roadmap from the authorities soon, he said. A separate seminar on the energy sector will also be held during the trade show.
He said the chamber was prioritising sectors where US technology and innovation could be used extensively and where there was scope for value addition in Bangladesh, rather than seeking investment indiscriminately across all sectors.
At the press conference, organisers said representatives of American chambers of commerce from different countries would also attend this year’s trade show. Investors from several companies that have yet to begin operations in Bangladesh are expected to join them.
AmCham considers attracting 10 to 12 new companies to explore investment opportunities in Bangladesh as one of the major achievements of the event.
36 companies, seven startups to participate
According to the organisers, 36 companies and seven startups will participate in this year’s exhibition, featuring a total of 63 booths.
The US companies participating or being represented include Caterpillar, Chevron, ExxonMobil, MetLife, Citigroup, Mastercard, Visa, Colgate-Palmolive, Philip Morris International, PepsiCo, Costco, PPG, UPS and Cargill.
The exhibition will feature dedicated zones for power and energy, information technology and the digital economy, banking and financial services, consumer goods, manufacturing and logistics, education, and agribusiness.
There will also be a startup zone, a carnival zone for direct shopping and a heritage corner highlighting the history of the US Trade Show.
Six thematic seminars will be held during the three-day event. The topics will include power and energy, healthcare and medical technology, information technology and the digital economy, women’s leadership, investment in the United States through SelectUSA, and Bangladesh-US trade relations.
Experts from the respective sectors and government representatives are expected to take part in the seminars.
The exhibition will remain open to visitors from 10:00am to 8:00pm every day.
The organisers said the US Trade Show was first launched in Bangladesh in 1992 under AmCham’s initiative. After being suspended for several years, the event is returning following a break of around two and a half years. This year also marks the 30th anniversary of the organisation.
Commercial Counsellor at the US Embassy in Dhaka Paul G Frost was present at the press conference.