US companies are eager to invest in five key sectors in Bangladesh: IT, education, healthcare, energy, and infrastructure, according to John Fay, the commercial counselor at the US embassy.
Fay expressed this interest during a monthly meeting of the American Chamber of Commerce in Bangladesh (AmCham) at The Westin Dhaka.
These sectors hold the potential to become valuable investments for Bangladesh as it aims to elevate itself to middle-income status.
Fay highlighted that the United States is currently the largest foreign investor in Bangladesh, with a total investment of $4 billion.
Among these challenges are issues related to payments, repatriation of earnings, and revenue, as well as non-transparent rules and inadequate enforcement of intellectual property rights.
Moreover, Bangladesh’s logistical and transportation infrastructure gaps hinder trade in goods and limit the country’s trading potential, discouraging additional foreign investment.
Fay emphasized his office’s commitment to working collaboratively with Bangladeshi government officials and stakeholders to address these challenges and improve the trade and investment climate.
However, this trade relationship is heavily concentrated in specific sectors, such as apparel for Bangladesh and steel and agriculture for the US.
AmCham President Syed Ershad Ahmed emphasized the untapped potential in the trade and investment relationship between Bangladesh and the US.
Ahmed expressed gratitude for the US Department of Commerce’s opening of the Foreign Commercial Service office in Bangladesh, which is expected to strengthen trade ties and support US companies doing business in the country.