The Egyptian Ambassador, Omar Mohie Eldin Ahmed Fahmy during a discussion with the Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashiq Mahmud Bin Harun on Monday pointed out that the $160 million Egyptian investments in the petrochemical and cotton industries in Bangladesh have not yet reached their full potential.
The discussion took place as the Egyptian envoy called on Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, at Biniyog Bhaban, Agargaon in Dhaka.
Fahmy wanted to diversify these investments into Bangladesh’s RMG, agriculture, and pharmaceutical sectors.
Exchanging views with the Ambassador, BIDA Chairman highlighted Bangladesh's advantages, including its expanding domestic market and duty-free entry into Europe and the USA.
He emphasized the need for the possibility of Egyptian pharmaceutical businesses establishing themselves in Bangladesh, which would facilitate exports to Africa, where there is a large need for Bangladeshi pharmaceutical
products.
Both the parties acknowledged that while Egyptian business people may lack deep knowledge of the Bangladeshi market, the country’s rapidly growing middle class of two million new entrants annually offers immense investment opportunities.
