The chairman and chief executive officer (CEO) of Youngone Corporation, Kihak Sung, urged foreign investors to make a footprint in Bangladesh. The renowned South Korean company boss said many previous governments have tried to bring foreign direct investment (FDI) in Bangladesh, but the incumbent interim government is doing so in a very effective way.
As this government is firmly determined to ensure all facilities for investors, he urged the foreign investors to consider Bangladesh as a future investment destination.
Kihak Sung made the call while a delegation of 60 investors and representatives of various companies from different countries including China, India, Netherland visited the Korean Export Processing Zone (KEPZ) in Anowara, Chattogram on Monday on the occasion of the four-day Investment Summit. Youngone Corporation operates the KPZ.
During the visit, representatives of a Chinese company asked Kihak Sung what is the biggest challenge to foreign investment in Bangladesh? In reply, the Korean tycoon said one of the leading challenges for investment is admiration complexities. Yet, Bangladesh is a better destination for profitable investment. That is why he invested and expanded his business in this country gradually.
The foreign delegation also visited the National Special Economic Zone (NSEZ) in Mirsarai, Chattogram where they witnessed the operation of BEPZA economic region.
Speaking to Prothom Alo after the visit, Dutch Entrepreneurial Development Bank (FMO) Mark Karman said, “Infrastructure facilities are the prerequisites of investments, and Bangladesh have progressed much on it. We saw some first-hand examples. Now, if Bangladesh can present the potentials to the world through easing the investment process, it will attract foreign investments.”
The Bangladesh Investment Summit 2025 open on Monday informally. Chief Adviser Muhammad Yunus will inaugurate the event on Wednesday.
Bangladesh Investment Development Authority (BIDA), which organized the event, said a total of 550 investors and representatives of various global firms will participate in the summit.
Youngone Corporation official informed the visiting foreign delegation that Youngone moved to set up new factory in KPEZ after the incumbent government resolved KPEZ’s land disputes quickly. Besides, construction of a 600-bed hospital and a world standard textile institute is underway in the KPEZ.
India-based Kapiti Overseas managing director Suresh Kapiti was also with the foreign delegation. He runs battery recycling business in Hyderabad. Speaking to Prothom Alo after the visits, he said, “I saw the potentials first-hand during this visit. Now, I want to know about the administrative process on investment process, and if the process becomes easier and if there are potentials, we will consider investing in Bangladesh after returning home.”
