South Korea keen to expand success in other sectors

Rtv news

20 Feb 2022, 21:19

Photo: Collected

South Korean Ambassador in Dhaka Lee Jang-Keun today said his country is keen to develop Bangladesh-Korea's success in other sectors apart from Ready-made garment (RMG) sector.

The envoy said, "Seoul wants to take the bilateral relations to a new level in 2022, marking the 50th anniversary of Bangladesh-South Korea diplomatic relations and efforts are being made to increase Korean investment in other sectors besides readymade garments."

The envoy made the remarks in a courtesy call on Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin at FBCCI head office here today, said a press release.

At present, South Korea is the 5th largest country in terms of foreign direct investment in Bangladesh, he added.

During the meeting, the FBCCI president called upon the Korea to invest in Bangladesh's infrastructure sector and man-made fiber sector.

The President said Bangladesh is enjoying a golden time for investment due to its huge domestic market, growing exports, easy availability of power and infrastructure, government policy support and a large working population.

The countries that take advantage of this opportunity will be benefited, he added.

He also said that the apex trade body will discuss with the Investment Development Authority (BIDA) on organizing road shows or investment summit in Korea to highlight the investment opportunities in Bangladesh.

The meeting decides to hold a business dialogue this year in a joint venture between Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) and FBCCI.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President MA Momen, Md. Amin Helaly, Md. Habib Ullah Dawn, Director Mohammad Anwar Sadat Sarkar, Md. Rezaul Kariem Rejnu, Dr. Nadia Binte Amin, Md. Nizam Uddin, Naz Farhana Ahmed, President of KBCCCI and Chairman and MD of Meghna Group of Industries Mostafa Kamal, Advisor Sahab Uddin Khan, Director General of Korea Trade-Investment Promotional Agency Kim Dong Hyon, First Secretary of the embassy of the Republic of Korea Lee Jungyoul and FBCCI Secretary General Mohammad Mahfuzul Hoque, among others, were present at the meeting.

Follow Rtv Online English on Google news

Source: BSS

Comments

Most Viewed News Of Economy

Bribery, corruption main barriers to promote business in Bangladesh: US report

The '2024 National Trade Estimate Report on Foreign Trade Barriers' published on March 29 identified barriers to government procurement, intellectual property protection, digital trade, investment and labour rights in Bangladesh. According to the NTE report published by United States Trade Representative Catherine Tai, the United States faces several obstacles in doing business with Bangladesh. Bangladesh faces obstacles in the export of goods and services, foreign direct investment and e-commerce. NTE reports have been published regularly since 1985. This year's NTE report highlights significant foreign trade barriers in 59 markets. According to the report, corruption is a widespread and chronic problem in Bangladesh. And the implementation of anti-corruption laws is not enough. It also said that bribery and extortion are common in commercial transactions despite bribery transactions and gifts being illegal. US companies have also complained that they are forced to pay bribes to get licenses. The report also mentions that the government has tried to weaken the anti-corruption rules in procurement. According to the report, US companies have complained that it takes a long time to get licenses and tenders approved because government officials in Bangladesh demand bribes.

Export earnings rise 10% in March

The export of goods valued at $5.10 billion in March this year. Export earnings increased by about 10 percent. This information was revealed in the updated report of the Export Promotion Bureau (EPB) released on Tuesday (April 2). However, The earnings from exported goods fell short of the export target form the last month by 0.88 percent. In the first nine months (July-March) of the current fiscal year, overall exports worth $43.55 billion, which is 4.39 percent higher than the same period of the previous year, according to the EPB data. Meanwhile, export earnings in readymade garments, agriculture and plastic sectors have increased. In the nine months of the fiscal year, export earnings in the readymade garment sector increased by about 5.5 percent.

LPG price cut by Tk 40 for 12 kg cylinder

Bangladesh Energy Regulatory Commission (BERC) has reduced the price of a 12-kg cylinder of liquefied petroleum gas (LPG) by Tk 40 at the retailer level. The newly fixed price of LPG is Taka 1,442, which was Taka 1,482. BERC Chairman Nurul Amin announced the new price at a press conference on Wednesday (April 3) noon. The new prices will be effective from 6 pm. Meanwhile, On March 3, the price of LPG was increased at the consumer level for the eighth consecutive month. Earlier On February 4, the BERC raised the price of a 12-kg cylinder by Tk 41 to Tk 1,474.

BASIC Bank to merge with City Bank

This time, BASIC Bank will merge with City Bank. This decision was taken in a meeting held at Bangladesh Bank on Monday. The decision was taken at a meeting held at Bangladesh Bank on Monday (April 8). The meeting was held between Bangladesh Bank Governor Abdur Rauf Talukdar and City Bank Chairman Aziz Al Kaiser along with Managing Director (MD) Mashrur Arefin. Earlier on March 19, City Bank's board was advised to merge BASIC Bank. Then the matter was discussed between the boards of City and BASIC Bank. According to some sources, even if the two banks are merged, they will report separate financials for the next three years.

Gold prices hit a record high

Gold prices creating records one after another in the world market. The price of this precious metal is constantly increasing. For the first time in history, gold prices rose above $2,400 per ounce to an all-time high on Friday ( April 12). Earlier, on April 5, gold prices crossed $ 2,300 an ounce for the first time in the world market. Just seven days later, on Friday, the price exceeded $ 2,400. Which is the highest in the world market. Experts had expected the price of gold to exceed $ 2,300 per ounce this year. It has already exceeded. The price of gold will increase further. Economist Mahfuz Kabir said that the price of gold is increasing in the world market mainly due to the Federal Reserve's indication of reducing interest rates and geopolitical tensions. When interest rates fall, people choose gold as a medium of investment. As a result, the price surges. Gold is now being sold at the highest price in the world market. This price may increase further.

Bottled Soybean oil prices raised by Tk 4 per litre

The price of bottled soybean oil has been hiked by Tk 4 on the other hand the price of loose soybean oil reduced by Tk 2 per litre. State Minister for Commerce Ahasanul Islam said this at a press briefing at the secretariat on Thursday (April 18). According to the new decision, price of bottled soybean oil hiked to Tk 167 from Tk 163 per litre. The State Minister said that the price of loose soybean oil has been reduced to Tk 147 from Tk 149 per liter. However, the price of bottled soybean oil has been increased from Tk 163. This price will be effective from tomorrow. Earlier, on Monday Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers proposed the government to raise the price of soybean oil by Tk 10 to Tk 173 per liter.

Gold prices slashed by Tk 3,138 per bhori

Bangladesh Jeweller’s Association (Bajus) has reduced the price of gold after three consecutive hikes this month. The price of gold has been reduced again in the country's market after three days of fixing the new price. The price of 22 carat gold has been reduced by Tk 3,138 per bhori (11.664 grams) and the new price has been fixed. The price of per bhori of good quality gold (22 Carat) is 1 lakh 16 thousand 290 taka. The decision was taken at a meeting of the Bajus Standing Committee on Tuesday (April 23). This information was given in a notification signed by the chairman of the committee Masudur Rahman. Bangladesh Jewelers Association has fixed the new price of gold considering the overall situation, said Masudur Rahman However, the price of 21 carat gold has been reduced by Tk 3,009 to Tk 1,10,995.

South Korea keen to expand success in other sectors

Bribery, corruption main barriers to promote business in Bangladesh: US report

Export earnings rise 10% in March

LPG price cut by Tk 40 for 12 kg cylinder

BASIC Bank to merge with City Bank

Gold prices hit a record high

Bottled Soybean oil prices raised by Tk 4 per litre

Gold prices slashed by Tk 3,138 per bhori

Johnathan, son of Zimbabwe legend Alistair, called up in squad for Bangladesh tour

Children in Bangladesh at extremely high risk from heatwave: UNICEF

Qatar-Bangladesh signed 10 MoUs agreements

Train fares set to rise from May 4