Respectable and distinguished guests, chairman, ladies and gentlemen
Good afternoon ！
I want to briefly talk about why the labor-intensive high-tech industries in China are going to be transferred to Bangladesh to find a new home.
Ladies and gentlemen, recently Bangladesh has been a focus and a place which attracting global investors to seek win-win business opportunities and try to promote and strengthen the business and trade cooperation. Because in Bangladesh, there are a large population and abundant labor resources, which can provide the settlement of labor-intensive companies with fertile soil. Undoubtedly, through this seminar, it is able to make a full use of the 160 million population in Bangladesh.
Firstly, please allow me to introduce the basic information of the Buyer and Agent Association of Bangladesh. BIAA.BIAA, the association of buyer and agent, has 2500 members, and it is an institution which specializes in activities of purchasing, spreading allover Bangladesh.
Our association has been trying to find the business opportunities for foreign direct investments, as well as showing our country to the investors. If you make full use of the abundant labor force in Bangladesh, you may be able to seek a kind of competitive advantages in business development.
Distinguished business elites and colleagues, the seminar will have a great significance on the economic development and promotion in the future. We have gained effective results on promoting the efficacy of workforce, but that how to use a much more appropriate way to performance this advantage is in the need of a huge of human resources, and now is that right and seasonable time for us to build a kind of structure and database fully displaying our labor industry and resources to the foreign investors to seek a common development opportunities of business.
Dear friends, the seminar in this afternoon aims to achieve the following goals:
First, finding that specific industry which can transfer the labor-intensive high-tech industries in China out to Bangladesh.
Second, Encourage China’s investors and manufactures to have full discussion about the proposals on the transfer of Chinese labor-intensive and high-tech industries to Bangladesh.
Third, make a specific framework and listing some detailed measures and action plan, and then fully delivering a report on these suggestions and proposals to both governments.
Forth, encourage and recommending the policy makers in Bangladesh to formulate some policies more conducive to investments.
Fifth, fully show or demonstrate the advantages to invest in Bangladesh, then giving some incentive measures to attract foreign direct investment as well as the policy framework of investment.
Sixth, fully explain the requirements and opportunities for public and private partners to invest.
Seventh, arrange the B2B meeting well and give time to conduct a free discussion so that the businessmen and entrepreneurs have a full understanding about the transfer of labor-intensive and high-tech industries.
Why do the industries have to be transferred to Bangladesh? The most important reason is that the Bangladesh government has given many preferential policies for business investments and introducing foreign investments. And the government has set up special economic development zone. Moreover, the strategic geographical location, climate as well as social and economic conditions are very favorable to invest industries. Bangladesh, near China, India and SEA, may become an access for Chinese investors to enter into these markets.
At present, the Bangladesh government has established the guarantee mechanism for multilateral investment, and overseas, it mainly consists of private investment companies. Besides, government has set up the investment dispute settlement center. Now, Bangladesh also has become a member of the World Intellectual Property Organization. A group of survey data from World Bank in 2014 shows that at present, Bangladesh has already been the second
place which is easiest to do business in South Asia, and the measures and efforts to protect investment also rank first in this area. On taxes, it also can be considered as the most favorable one. From the perspective of a receiver of the foreign direct investment, among the 74 countries surveyed, Bangladesh ranked sixteenth with about 6.2 % economic growth rate. The total amount of investment reached 19.5 % in the GDP.
Bangladesh has been a very open market, fully integrating into the global economic development. For example, 67 % of GDP is related to the crossboard supply chain system. Following China, we are the second largest country in exporting clothing products to western countries. In the future, what is our long-term economic goal? Our goal is to accelerate the economic growth rate to 10 % by 2017, and to keep the record until 2012.the second step is going to improve the electric power supply. The third goal is to endeavor to promote economic level to the middle-income country’s level.
Now there are 1.3 billion people in China, including 38 % population with age over 60 years old. And the trend of aging population becomes increasingly obvious. However there are 160 million people in Bangladesh and 52 % of them are under the age of 50 years old. The advantage of Bangladesh is that it has a large workforce, and about the average level of wage, it is the lowest. There is a comparison of country’s wage level from several areas: 72 US dollars in Sri Lanka, 70 US dollars in Bangladesh, 87 US dollars in Pakistan, and 96 US dollars in Vietnam. The Bangladesh’s labor force is the cheapest; however, the average price of Chinese labor is 432 US dollars.
Ladies and gentlemen, let us have a better cooperation with China Yunnan Promotion of Trade Committee, make Buyer and Agent Association of Bangladesh and other companies to work together and let us work hard to create more business opportunities. Thank you ！