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Singapore to invest in IT, power, housing sectors:  Commerce Minister Tofail

Summary

 Commerce Minister Tofail Ahmed revealed Singaporean businessmen have decided to make big investment in Bangladesh’s special economic zone (SEZ).

Updated on : 14-07-2018

 Commerce Minister Tofail Ahmed revealed Singaporean businessmen have decided to make big investment in Bangladesh’s special economic zone (SEZ).

“They (Singaporean businessmen) prefer the IT, power and housing sectors for investment in Bangladesh,” he told media after having a view exchanging meeting with a visiting Singaporean business delegation at a city hotel.

Initially, the Prime Minister spoke of allocating 500 acres of land for their investment in SEZ, said Tofail, adding, “More land could be allocated if it (investment) appears satisfactory.”

Referring to the import of LNG and discovery of new gas field along with the work of installing nuclear power plant, the commerce minister told the delegation that “there will be no crisis of power and gas for industry here.”

The Singapore delegation arrived here on July 7 and will stay till July 13.

At present, 150 Singaporean companies are doing business in Bangladesh, and trade volume of both the countries is now over $ 4 billion which is expected to increase further.

(Courtesy: Bangladesh Sangbad Sangstha )