Bangladesh Seeks More Malaysian Investment To Drive Sustainable, High-Growth Economy
PUTRAJAYA, Aug 12 (Bernama) -- Bangladesh is seeking greater Malaysian investment to strengthen its economy and build a high-growth, sustainable future, said Chief Adviser Prof Dr Muhammad Yunus.
He said the South Asian nation, backed by its human resources and emerging technological capabilities, has vast opportunities to offer, making it an attractive destination for Malaysian businesses looking to expand globally.
“Malaysia is a good friend, and we are looking for investment from Malaysia and that’s what we have been discussing,” he told a joint press conference with Prime Minister Anwar Ibrahim here on Tuesday.
Yunus, who is on a three-day official visit to Malaysia, was accorded an official welcome at the Perdana Putra Complex earlier today.
He emphasised the need for a closer collaboration in financial and investment sectors, saying that it will create more opportunities and contribute to the development of a sustainable, high-growth economy in Bangladesh.
“We are very happy today. We have gone through a list of ideas that could further strengthen this relationship,” he added.
Yunus is an economist, social entrepreneur and Nobel Peace Prize laureate, best known as the pioneer of microcredit and microfinance, which involve the provision of small loans to impoverished individuals without requiring collateral, enabling them to start or grow small businesses and break the cycle of poverty.
Meanwhile, Anwar has described Yunus as a great friend of Malaysia who has made remarkable progress in ensuring peace and security in Bangladesh during the transition period, while continuing to strengthen bilateral ties in areas such as trade, investment, culture and education.
The Prime Minister said Malaysia has also prioritised measures to help stranded Bangladeshi workers while continuing cooperation in the energy sector through Petronas, in telecommunications through Axiata Group Bhd, and exploring new areas in halal, STEM (science, technology, engineering and mathematics) research, and semiconductors.
Earlier, Malaysia and Bangladesh sealed eight memoranda of understanding (MoUs) and agreements aimed at deepening bilateral ties across a wide range of sectors, including defence, energy, higher education, diplomacy, halal development, and private sector cooperation. The signing ceremony was witnessed by Anwar and Yunus.
Among the key documents exchanged was the MoU on Defence Cooperation between the two governments, signed by Defence Minister Mohamed Khaled Nordin and Bangladesh Foreign Adviser Md Touhid Hossain.
Also inked was an MoU on cooperation in the supply and infrastructure of liquefied natural gas (LNG), petroleum products and related facilities, signed by Finance Minister II and Acting Minister of Economy Amir Hamzah Azizan and Bangladesh Adviser for Road Transport and Bridges, Power, Energy and Mineral Resources, and Railways M. Fouzul Kabir Khan.
MoUs were also concluded between MIMOS Services Sdn Bhd and the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), as well as between the National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
In 2024, Malaysia-Bangladesh trade rose 5.1 per cent to RM13.35 billion (US$2.92 billion).
Bangladesh is Malaysia’s second-largest trading partner and export destination in South Asia. Key exports include petroleum products, palm oil and chemicals, while imports comprise textiles, footwear, petroleum products and manufactured goods.
-- BERNAMA
