Karachi, 15 March 2024:

Technical Advisor, Board of Investment of Pakistan Mr. Syed Feroz Shah meets the Bangladesh Deputy High Commissioner in Karachi S. M. Mahbubul Alam at the Chancery on 15 March 2024.

Deputy High Commissioner warmly welcomed the Technical Advisor, Board of Investment of Pakistan Mr. Syed Feroz Shah to the Chancery. During the meeting, the Deputy High Commissioner S. M. Mahbubul Alam highlighted that Bangladesh has been developing in all the socio-economic indicators.

Deputy High Commissioner also highlighted the success stories of socio-economic progress in Bangladesh and mentioned that Bangladesh has become a ‘Role Model’ of socio-economic development in the world. He added that the per capita income of Bangladesh is currently US2824 and Bangladesh is currently among the five fastest growing economies in the world, ranking 35^th in terms of GDP. He also mentioned that in Bangladesh current primary enrollment rate is 100 percent. He added in 1971 literacy rate in Bangladesh was only 18 percent, which is currently around 80 percent. The electricity generation was only 4000 MWt in 2009, which is currently around 25,000MWt and Bangladesh is currently a 100% electricity coverage country. He mentioned that Bangladesh has been working to establish 100 Specialized Economic Zones (SEZ) across the country. He also briefed on the business and foreign investment friendly policies in Bangladesh.

Deputy High Commissioner further added that Bangladesh is 2^nd in RMG production and export. He further added that over 15 million Bangladesh nationals live in over 180 countries and Bangladesh is 8^th in Remittance receipt amounting over US$25 billion a year. Total annual Exports of Bangladesh is over US$55 billion. Bangladesh has been working hard for the annual export of US$100 billion by 2030.

Deputy High Commissioner also briefly outlined most of the mega projects in Bangladesh. He shared that Bangladesh has constructed 6.15 Kilometers Padma Bridge with a cost of over US$3.8 billion from her own source, which is a pride and symbol of confidence of Bangladesh. He also mentioned that the first-ever metro rail has been inaugurated in Bangladesh on 28 December 2022. He also briefed on first ever in whole of South Asia the Bangabandhu Tunnel under the Karnaphuli River. He further added that Bangladesh has already achieved ‘Vision 2021’ and is striving hard to achieve “Vision 2041” to become a higher middle-income country by 2031 and developed country and Smart Bangladesh  by 2041.

Deputy High Commissioner also highlighted the investment potential and opportunities in trade and commerce between the two countries. The Technical Advisor, Board of Investment of Pakistan Mr. Syed Feroz Shah highly appreciate the development journey of Bangladesh in the recent years. He also emphasized to explore business and investment potential between the two countries for the mutual benefits of the two brotherly countries.