Foreign investors have described Bangladesh as a land of opportunity and called on the government to ensure policy predictability in order to retain investor’s confidence.

On the second day of the Bangladesh Investment Summit, foreign participants on Tuesday acknowledged that while there have been political changes, the country has remained on a steady path of development overall.

They also said that one of the key challenges investors often face in Bangladesh was sudden changes in regulations or policies.

When investors commit capital, they do so based on the prevailing rules. If those rules change abruptly, it can create uncertainty and risk, investors said while visiting Bangladesh Special Economic Zone at Araihazar in Narayanganj, on Tuesday.

During the visit, a Swedish company, Nilorn Bangladesh Limited, signed a Memorandum of Understanding with the BSEZ, also known as the Japanese Economic Zone, to setup a factory.

A total of 36 investors visited the zone, including 10 from China, eight from the United States, three from Japan, three from Abu Dhabi, three from Saudi Arabia, one from India and eight non-resident Bangladeshis.

Following the signing of the MoU, Nilorn Bangladesh Limited managing director Mohammad Abdul Quyum, told reporters that the company would invest approximately $14 million within six months of the agreement.

He said that Nilorn would manufacture garment accessories in the facility and it would generate employment for around 300 people.

Nilorn is already operating a production facility in Manikganj.

According to the Bangladesh Special Economic Zone Authotiry, BSEZ is a joint initiative between the governments of Bangladesh and Japan.

The zone is being developed by Japan’s Sumitomo Corporation and adheres to Japanese standards of industrial development, ensuring high-quality infrastructure and operational efficiency.

BSEZ has so far attracted investment proposals worth approximately $200 million from foreign investors.

Singer-Beko from Turkey had begun production at its $78 million facility in BSEZ, which was described as a strong demonstration of the company’s long-term commitment to Bangladesh’s growth.

The factory, spanning 135,000 square metres, was said to set new benchmarks in manufacturing excellence, while three additional industries were reported to be under construction in the zone.

In addition, over 30 investors are in active negotiations to invest in the zone.

Singer Bangladesh Limited managing director HM Fairoz said that the company currently employs nearly 2,700 people, with a market value of approximately $225 million, and that they have ambitious growth plans aligned with further investments.

Terming Bangladesh a land of opportunity, he said that with a population of around 180 million and relatively low market penetration for many consumer products, Singer Bangladesh sees significant potential for growth.

In response to a question about challenges in the country, he said that there were various challenges everywhere in the world; however, they were witnessing positive developments in Bangladesh.

BSEZ managing director Taro Kawachi said that their vision aligned closely with the goals of the Bangladesh government, and they were proud to contribute to that shared mission.

He said that investors seek consistency and predictability in policy, whether related to taxation, regulation or other frameworks.

He mentioned that sudden changes in policies could be disruptive, but with clear communication and steady governance, such issues could be effectively navigated.

China based company Green & Smart Energy Organisation secretary general Wu Jianbo said that Bangladesh has strong market potential but the country faced two key challenges in attracting Chinese companies–one was infrastructural weaknesses and another was cultural differences.

‘After visiting the BSEZ, I felt that the infrastructure here is entirely investment-friendly,’ he said.

Chinese-owned IT service provider Genew Bangladesh Limited chief Executive officer Nicholas Qi said that while Bangladesh offered significant investment potential, one of the major challenges was the lack of continuity in government policies.

Despite some political changes, the country’s economic progress remained steady and the BSEZ is a prime example of this development, with excellent infrastructure in place, he said.

Deputy press secretary to the chief advisor, Abul Kalam Azad Majumder, told reporters that investors had expressed satisfaction after visiting several economic zones over the past two days.

He said that the interim government was actively working to remove barriers to investment, including regulatory hurdles and governance issues that had previously discouraged investors.