President for South Korean more investment in Bangladesh

President Mohammed Shahabuddin today urged South

Korea to invest more here as a investment-friendly environment now prevails
in Bangladesh.

The President came up with the call when the newly-appointed Ambassador of
the Republic of Korea-ROK (South Korea) to Bangladesh Park Young-Sik
presented his credentials to him at Bangabhaban here this morning.

Welcoming the new ambassador, he said South Korea is one of the major foreign
investors in Bangladesh, President’s Press Secretary Md Joynal Abedin told
BSS.

Shahabuddin said that the congenial business environment of Bangladesh and
its rapidly growing economy welcome more Korean investments in the fields of
light engineering, electronics, home appliances, infrastructure development,
ICT sector, shipbuilding etc.

It is noted that South Korea is the major investor in Bangladesh with an
accumulated gross stock of USD 1.4 billion dollars in FY 2021-22 with the
investment of more than 150 Korean companies.

The President said there are many potential areas between Bangladesh and
South Korea where both countries will benefit through joint ventures.

Expressing his satisfaction with the South Korean government’s Employment
Permit System (EPS), the Head of State said many Bangladeshi skilled workers
will be able to get employment opportunities in Korea through this.

The South Korean ambassador said his country is keen to increase bilateral
trade and investment with Bangladesh.

In this regard, he stressed on the visit-exchange of high-level delegations
from the public and private sectors of the two countries.

Lauding the skills of Bangladeshi expatriates, Park Young-Sik said they
(manpower) are making important contributions to the development of South
Korea. He sought full cooperation in doing his assignments in Bangladesh.

The President assured him of providing all necessary support in performing
his duties here.

Earlier, on his arrival at Bangabhaban, a smartly turned-out contingent of
the horse-mounted President Guard Regiment (PGR) gave the envoys guard of
honour.

President’s Office Secretary Sampad Barua, Military Secretary Major General
SM Salahuddin Islam and Secretary (attached) Md Wahidul Islam Khan were
present on the occasion.(BSS)