Dhaka Chamber of Commerce and Industry (DCCI) president Taskeen Ahmed on Sunday urged South Korean Ambassador to Bangladesh PARK Young Sik to hire more skilled manpower from Bangladesh.
He made the call when the South Korean envoy called on him at the chamber office in Motijheel, Dhaka, according to a release.
Citing that Bangladeshi educated young freelancers have now been doing very well in designing semiconductors, he sought Seoul’s all out cooperation in technological advancement further.
Taskeen told Park that South Korea has huge investment potentials in local RMG, ship-building, leather and leather products, Active Pharmaceuticals Ingredients (API), automobiles, electronics, semiconductor, IT and other sectors.
Currently, South Korea is the third largest investor in Bangladesh, having already invested $1.56 billion.
In 2023-24 fiscal year, Bangladesh’s bilateral trade with South Korea was $1.39 billion with $902.90 million imports and $491.73 million exports.
To attract more FDI, Park said, it is important for Bangladesh to simplify the visa issuance and renewal processes, speed up the customs clearance procedures, expedite the services provided by the BIDA, keep the corporate tax rate at a tolerable level and reduce logistics costs.
He said Bangladesh has a great potential for foreign investment due to its large pool of human resources, geographically strategic location and large consumer market.
Besides, he said, there is a lot of scope for foreign investment in Bangladesh in the sectors like electronics, mobile, automobile, information technology, RMG etc.
The Ambassador also said South Korea has been assisting in various technical training centers in Bangladesh for capacity development and create skilled human resources.
He later said that Bangladesh is going to graduate from LDC to middle income country in 2026; if South Korean industries can collaborate or make joint ventures with Bangladeshi companies, it will then create an opportunity for local entrepreneurs to have access to high-end technology that would help Bangladesh face the post-LDC challenge.
DCCI senior vice president Rajeev H Chowdhury later called upon the South Korean investors to invest in Bangladesh through joint ventures especially in the agro-processing sector.
The chamber’s vice president Md Salim Solaiman and high official from the embassy were also present on the occasion.
