Investment News

Singapore eyes modalities for financing infrastructure in Bangladesh

Jun 24, 2021

Singapore eyes modalities for financing infrastructure in Bangladesh

Singapore wants to work with Bangladesh to strengthen connectivity and infrastructure, Singapore’s Honourable Minister for Transport and Minister-in-charge of Trade S. Iswaran has told a webinar co-organized by BIDA. 

He was addressing a webinar titled ‘FYIstival: Spotlight Bangladesh’ on Jun 24, 2021. Nearly 100 Singapore and Bangladesh companies joined the webinar organized by Singapore Business Federation, in collaboration with Enterprise Singapore, Singapore Food Manufacturers' Association (SFMA), Bangladesh Investment Development Authority (BIDA), the Bangladesh High Commission in Singapore, the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and Bangladesh Business Chamber of Singapore (BDCHAM).

“As Bangladesh continues its upward economic trajectory, it will also require significant funding for new infrastructure. Singapore would be keen to work with Bangladesh to explore modalities for such infrastructure financing,” said Minister Iswaran.

“By strengthening connectivity with Singapore's port, Bangladesh can tap on our strong linkages across South-east Asia and enjoy even greater access to one of the fastest growing regions in the world."

Bangladesh and Singapore can also jointly implement digital frameworks for facilitating trade and investments, he added. Prior to the webinar, he joined bilateral talks with Honourable Commerce Minister Tipu Munshi MP.  

“Bangladesh is a potential market for Singapore companies seeking to secure new growth overseas. As we become more aware of what we mutually offer, it will open up novel paths for investments and two-way trade,” said Minister Tipu Munshi.

Private Industry and Investment Adviser to the HPM, Salman Fazlur Rahman MP discussed the Government’s systematic achievements in reforming Bangladesh’s business climate during his concluding remarks.

The webinar series was marked by breakout sessions between Bangladeshi conglomerates and Singapore suppliers, which focused on FMCG, Food and Agribusiness trade.

A panel discussion on B2B collaboration opportunities was moderated by BIDA Executive Chairman Md. Sirazul Islam. FBCCI President Md. Jashim Uddin, Regional CEO, South Asia & Middle East, PSA, Wan Chee Foong and Managing Director and CEO, Summit Power International Limited Ayesha Aziz Khan took part in the panel discussions.

BIDA and SBF have been facilitating Singapore companies in Bangladesh. SBF provides market advisory, formulates market entry strategies and facilitates business matching for Singapore companies that are looking to venture into Bangladesh under the Global Connect SBF programme. Through BIDA’s support, companies such as Fish & Co., Pastamania, and engineering services SME, Asia Project Engineering, have entered the Bangladeshi market. Singapore companies such as PSA, Sembcorp and Surbana Jurong are working to strengthen port infrastructure.