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SBF Organises FYIstival Webinar to Highlight Business Opportunities in Bangladesh

Thursday, 24 June 2021 [Singapore] – Bangladesh is a potential market for Singapore companies seeking to secure new growth overseas.

The Singapore Business Federation, in collaboration with Enterprise Singapore, Singapore Food Manufacturers' Association (SFMA), Bangladesh High Commission in Singapore, Bangladesh Investment Development Authority (BIDA), The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and Bangladesh Business Chamber of Singapore (BDCHAM), held a webinar today titled “Spotlight Bangladesh”, to help Singapore companies learn more about the emerging opportunities in Bangladesh.

The webinar was graced by Mr S Iswaran, Minister for Transport & Minister-in-charge of Trade Relations, His Excellency Mr Tipu Munshi, Bangladesh Commerce Minister and His Excellency Mr Salman Rahman, Special Adviser to Bangladesh Prime Minister for Private Industry and Investment. Close to 100 Singapore and Bangladeshi organisations across a range of sectors attended the webinar.

A panel discussion was also held to share experiences and best practices for doing business in Bangladesh, insights into B2B collaboration opportunities and how Singapore’s private sector can play a role in supporting Bangladesh’s growth. The session was moderated by BIDA Chairman Mr Mohamed Sirazul Islam. Panellists included FBCCI President Mr Md. Jashim Uddin, Regional CEO, South Asia & Middle East, PSA, Mr Wan Chee Foong and Managing Director and CEO, Summit Power International Limited Ms Ayesha Aziz Khan.

South Asia continues to be an attractive market for Singapore businesses. In particular, the total trade between Singapore and Bangladesh in 2020 was S$3.5 billion[1]. Singapore brands are well-received in Bangladesh, and there are many opportunities for Singapore companies in industries such as infrastructure, consumer goods, agriculture exports, agro-processing, information and communications technology, and skills development.

Mr Prasoon Mukherjee, SBF South Asia Business Group Vice-Chairman said, “Bangladesh’s large population of 166 million people with a young and educated demographic is appealing to foreign businesses and investors keen to access its sizeable and youthful labour market and distribute their products and services to a large growing local consumer market.”

Mr Darius Lim, Assistant Chief Executive Officer of SBF said, “As part of our GlobalConnect@SBF programme, we provide market advisory, formulate market entry strategies and facilitate business matching for Singapore companies that are looking to venture into Bangladesh. These efforts eventually led to signings of commercial deals with their Bangladeshi counterparts and collaborations for the distribution of products and services to local consumers.”

 

[1] Statistics obtained from the Department of Singapore Statistics.

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