Swedish business delegation in Dhaka to explore investment prospects

A large Swedish business delegation is visiting Dhaka on their own initiative to find out ways of investing in the infrastructure sector.

The visit assumes significance as it comes at a time when even local businesses are getting nervous about losing potential investors due to ongoing political impasse in Bangladesh.

Sweden embassy and Business Sweden are co-hosting this delegation comprising 11 companies – ABB, Flir, Ericsson, Swedish Export Credits Guarantee Board (EKN), Hifab, Indpro, Scania, Swedish Export Credit Corporation (SEK), SEB, Sweden-Bangladesh Business Council (SBBC) and Volvo.

Ambassador Johan Frisell while introducing them to the press on Wednesday said they were exploring prospects and business opportunities in infrastructure and transport sectors.

“These are areas where Swedish knowledge and innovations are prominent and where Swedish companies have solutions to offer,” he said.

He seemed nonchalant when asked whether the political climate in Bangladesh was conducive for doing businesses.

He said Bangladesh had “proven to be very progressive and very resilient” in the last more than 40 years.

“I’m very confident that there’ll be a solution to this (political situation),” the ambassador said.

He said many of the investments “needed are in the sectors of infrastructure, power, telecommunications, roads, bridges and transport.”

“These are sectors where Swedish companies can offer high quality solutions, products and services,” he said.

Volvo Managing Director in India Kamal Bali said they saw political challenges in many countries.

“We have seen it even in India many times. I think ultimate solution is development and development. Once you have development, you will have less of these problems,” he said.

He said during his visit he found “four” positive things among Bangladeshis: “energy, enthusiasm, grit and determination”.

“We have huge experience in India. We can do it in Bangladesh,” he said.

The delegation arrived in Dhaka on Tuesday for a three-day visit and already interacted with decision makers, politicians and private sector representatives in Dhaka.

They also met officials of the Board of Investment.

More than Tk 30 billion Sweden-Bangladesh trade is dominated by the textile and ready-made garments.

The embassy said this trade delegation was the “sign of diversification of the trade between our countries into other sectors”.