Its High Commissioner Md Golam Sarwar said the newly established 100 economic zones in Bangladesh as well as the infrastructure and technology sector present new opportunities for Malaysian investors.

“We are working to promote mutual investment. JP Morgan labelled Bangladesh as one of the ‘Frontier Five’ economies with high potential to become an attractive destination for investment.

“As the economy of Bangladesh is taking off to a higher trajectory of growth through the development of its infrastructure and tradable products, Malaysian entrepreneurs will find our power, telecommunications, infrastructure development, pharmaceuticals, textiles and agro-based industrial sectors lucrative for investment,” he said.

He was speaking at the Ambassador Global Lecture Programme organised virtually by Universiti Teknologi Malaysia (UTM).

The lecture carried the theme “50 years of diplomatic relations between Bangladesh and Malaysia and the way forward”.

Md Golam said the Bangladeshi government also frequently shared the liberal investment policies of the country with potential Malaysian investors.

According to him, foreign investors in Bangladesh can enjoy a wide range of financial incentives, including tax holiday, avoidance of double taxation, exemption of duties, and repatriation of profits.

He said that besides the conducive investment climate, factors that make Bangladesh a lucrative destination included a large domestic market, abundant skilled labour, and presence of a home-grown entrepreneur class.

“Above all, the government’s commitment to promote a win-win situation for foreign investors should be a great attraction,” he said.

Md Golam said data from Bangladesh Bank had shown that at the end of June 2020, Malaysian foreign direct investment (FDI) totalled US$825.14 million (RM3.4 billion), making it the ninth largest investor in Bangladesh.