AmCham eyes $5b additional US investment in Bangladesh within five years

The American Chamber of Commerce in Bangladesh (AmCham) is going to organize the 30th US Trade Show scheduled on November 5-7 in the capital with the aim to attract an additional $5 billion in US investment to Bangladesh over the next four and a half to five years.

Bangladesh had received around $5 billion in investment from the United States over the past 15 years. AmCham had discussed the possibility of attracting another $5 billion in the next four and a half to five years with the government.

"We are not claiming that the entire $5 billion investment will materialise. However, this trade show will facilitate the achievement of the target," AmCham President Syed Mohammad Kamal told a press conference in the city on Monday.

He said the chamber had also raised the investment target during its meeting with the Prime Minister on August 11.

He said Bangladesh had considerable potentials to attract more US investment, but energy security remained the most important factor in attracting investors.

The United States ran a total trade deficit of $6.0 billion with Bangladesh based on the most recent annual data for goods and services. The trade balance heavily favours Bangladesh due to its massive garment and textile exports.

The total bilateral trade between the two nations reached $13.7 billion, showing an upward growth trend. 

"AmCham is working with the government on this issue, and we expect to receive an energy roadmap from the government soon," he said. A separate seminar on the energy sector will also take place during the trade show.

Kamal said AmCham was prioritising sectors where US technology and innovation could make a significant contribution and where Bangladesh had opportunities to generate greater value addition, rather than seeking investment indiscriminately across all sectors.

The press conference was informed that representatives of American chambers of commerce from different countries would participate in this year's trade show. Investors from several companies that have not yet started operations in Bangladesh would also attend.

AmCham considers attracting 10 to 12 new companies to invest in Bangladesh as one of the major achievements expected from the event. Thirty six companies, seven startups to participate.

According to the organisers, 36 companies and seven startups will participate in the exhibition, featuring a total of 63 booths.

The US companies participating in or represented at the event include Caterpillar, Chevron, ExxonMobil, MetLife, Citigroup, Mastercard, Visa, Colgate-Palmolive, Philip Morris International, PepsiCo, Costco, PPG, UPS and Cargill.

The exhibition will feature dedicated zones for power and energy, information technology and the digital economy, banking and financial services, consumer goods, manufacturing and logistics, education and agribusiness.

Other attractions will include a startup zone, a carnival zone for direct shopping and a heritage corner highlighting the history of the US Trade Show.

The three-day event will feature six thematic seminars focusing on power and energy, healthcare and medical technology, information technology and the digital economy, women in leadership, investment in the United States through SelectUSA, and Bangladesh-US trade relations. Industry experts and government representatives will participate in the seminars.

The exhibition will remain open to visitors from 10:00 am to 8:00 pm every day. The organisers said AmCham initiated the US Trade Show in Bangladesh in 1992.