Singapore keen to invest more in Bangladesh’s energy sector

Singapore has shown its keen interest to increase investment in different sectors, including energy and infrastructure development, said prime minister’s private industry and investment adviser Salman F Rahman. ‘Though Singapore is a small country, it has many successful projects, including airport, railway. The country has expressed its keenness to increase investment in energy, especially renewable energy. It also expressed eagerness to explore new areas of cooperation,’ he said.

The PM’s adviser said this while talking to reporters after meeting with singaporean transportation minister and minister in charge of trade relations S Iswaran at Bangladesh Investment Development Authority building in the city. The Singaporean minister is currently visiting Bangladesh on the occasion of the golden jubilee of the establishment of diplomatic ties between two friendly nations.

The Southeast Asian island nation is also interested in Bangladesh’s various high skilled areas including digital connectivity and services, technology transfer and looks forward to harnessing the possibilities to raise it to the next level. Salman informed that during the meeting, they have discussed various bilateral issues, including investment in Bay Terminal and signing Free Trade Agreement between the two friendly nations.

‘Signing FTA between Bangladesh and Singapore is essential for increase trade between the two friendly nations. Bangladesh and Singapore have already inked a memorandum of cooperation with an emphasis on development in 16 sectors,’ he mentioned. During the meeting, Salman urged Singaporean entrepreneurs to make larger investments in Bangladesh’s economic zones. ‘Bangladesh is establishing 100 special economic zones across the country. I have invited the entrepreneurs of Singapore to invest in those economic zones,’ he added.

The Singaporean minister applauded the sustained economic growth of Bangladesh under the visionary leadership of prime minister Sheikh Hasina and stressed the importance of further deepening and widening the economic relations between the two countries. He said that Singapore was keen on working in the areas of infrastructure development, energy sector, data mining and various high skilled areas such as digital connectivity and services, technology transfer for further enhancement of bilateral relations.