UAE expats plan to invest Tk 1,000cr in Bangladesh

Bangladeshi expatriate businesspeople and entrepreneurs based in the United Arab Emirates are planning to invest around Tk 1,000 crore in Bangladesh, mainly in technology-driven banking, renewable energy, food processing, tourism, education and healthcare.

The Bangladesh CIP-Business Association, which represents non-resident Bangladeshi Commercially Important Person (CIP) status holders living abroad, made the announcement yesterday at a press conference at the Economic Reporters’ Forum in Dhaka.

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In a press statement, the association said its members are scheduled to meet the Bangladesh Investment Development Authority (BIDA) today to discuss the proposed investment, including the investment environment, government support and faster approval processes.

The proposed investments will include digital and AI-based Islamic banking, dry food processing and packaging, e-rental services, solar panels and renewable energy, tourism, education and healthcare, the statement added.

The investors said the plan’s implementation hinges on faster approvals, land or lease facilities, infrastructure support, investment protection and one-stop services.

Mohammad Rubel, speaking for the UAE-based NRB-CIP delegation, said expatriates want to contribute to productive sectors.

The announcement comes as UAE-based Bangladeshis report ongoing visa-related problems, including cases of stranded workers whose UAE visas have been cancelled, affecting their employment and businesses.

The association called for government-to-government talks to restore intra-country employer transfers for Bangladeshi workers, a facility it said has been unavailable for nearly 12 years.

The association also urged expanded consular services, including a 24-hour hotline and digital complaint management.