Singapore could play a significant role in Bangladesh’s investment drive: Speaker

Jatiya Sangsad Speaker Hafiz Uddin Ahmad on Sunday said Singapore could play a significant role in Bangladesh’s investment drive, particularly by strengthening economic cooperation between the two countries.

He also called on Singaporean companies to explore oil and gas opportunities in Bhola and other coastal regions of Bangladesh, according to a press release.

He made the remarks during a courtesy meeting with Singapore’s Non-Resident High Commissioner to Bangladesh, Derek Loh, at his office in the Jatiya Sangsad Bhaban.

Describing Bangladesh-Singapore relations as warm and friendly, the Speaker identified Singapore as one of Bangladesh’s key economic partners. He praised Singapore’s remarkable development, noting that the country had become one of the world’s prosperous nations under the visionary leadership of Lee Kuan Yew.

Referring to Bangladesh’s political transition, Hafiz said the July mass uprising of 2024 brought an end to the authoritarian regime and opened the way for restoring the country’s democratic journey. He also described the 13th parliamentary election as one of the fairest, most credible and free elections in Bangladesh’s history.

The Speaker further noted that Bangladesh’s economic progress had been hampered during the previous 17 years of authoritarian rule.

High Commissioner Derek Loh, meanwhile, emphasised the importance of prioritising technical education in Bangladesh’s educational institutions. He said improving the quality and expanding the reach of technical education could help create employment opportunities for the country’s young workforce.

Highlighting Singapore’s economic experience, Loh said the country had strengthened its economy through shipbuilding and the construction of various types of vessels. He suggested that Bangladesh could also gain economic benefits by expanding its shipbuilding industry and establishing dry docks.

The two sides also exchanged views on bilateral investment and trade, expansion of the readymade garment (RMG) sector, exchanges of parliamentary delegations, activities of the constitution amendment committee, improvement of educational standards, public examinations and recruitment tests for government jobs.

Representatives of the Singapore Embassy, the Secretary of the Bangladesh Parliament Secretariat and other senior officials concerned were present at the meeting.