AmCham targets $5bn more in US investment for Bangladesh over five years
The American Chamber of Commerce in Bangladesh (AmCham) has set a target of attracting another $5 billion in US investment over the next four and a half to five years.
AmCham President Syed Mohammad Kamal told a news conference in Dhaka on Monday that the coming 30th US Trade Show would help meet the goal.
βWe are not claiming the entire $5 billion will be achieved. But this trade show will make it easier,β he said.
The show runs from Nov 5-7 at the InterContinental Dhaka with US Embassy support, returning after a break of about two and a half years. It is open from 10am to 8pm each day.
Kamal said AmCham told the prime minister at a meeting on Aug 11 that about $5 billion in US investment had come to Bangladesh in the past 15 years, and that there was scope for more.
He called energy security the most decisive factor for investment and said AmCham is working with the government on it.
He expects an energy roadmap from the government soon, and the show will hold a separate seminar on energy.
Rather than chase every sector, AmCham has picked thrust sectors where US technology and innovation are used heavily and Bangladesh can add value.
Chambers from other countries have also been invited, along with investors who do not yet operate in Bangladesh.
βIf we can bring 10-12 new companies to invest in Bangladesh, that will be the biggest achievement of this event,β Kamal said.
According to the organisers, 36 companies and seven startups will take part across 63 booths.
US names taking part or represented include Caterpillar, Chevron, ExxonMobil, MetLife, Citi, Mastercard, Visa, PepsiCo and Cargill.
The show will have six themed seminars, including power and energy, ICT and the digital economy, and Bangladesh-US trade relations. Government representatives will attend all but one session.
AmCham leaders said the group began the trade show culture in Bangladesh in 1992, and the body is also marking 30 years since its founding this year.
US Embassy Commercial Counsellor Paul Frost attended the news conference.
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