Ensure transparency in infrastructure contracts to attract US investment: US envoy

The United States has called for greater transparency and open competition in Bangladesh’s major infrastructure projects, saying a level playing field would help boost investor confidence and attract more US companies to the country.

US Ambassador to Bangladesh Brent T. Christensen made the remarks during a meeting with Commerce Minister Khandakar Abdul Muktadir at the office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka today.

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The meeting also discussed ways to expand bilateral trade, increase US investment in Bangladesh, strengthen cooperation in the energy sector, and improve the country’s business environment.

Speaking about the proposed floating storage and regasification unit (FSRU) project, Christensen stressed the need for a transparent and competitive process in awarding major infrastructure contracts, according to a statement from the commerce ministry.

US companies are keen to work in Bangladesh, he said, adding that ensuring open competition would further strengthen the confidence of foreign investors.

The commerce minister, in response, said US companies would receive the highest priority if they could demonstrate the ability to deliver FSRU facilities within the shortest possible timeframe.

Companies capable of presenting an effective supply plan within a short period would be in a stronger position, he added.

The discussion also touched on Bangladesh’s new import policy, which the US ambassador described as containing several positive changes.

Christensen, however, suggested that some provisions could be made more business-friendly.

Muktadir said the import policy was an ongoing process and that the government was regularly reviewing it to make necessary adjustments in line with changing market conditions and economic realities.

The minister also highlighted the removal of a previous requirement that foreign companies appoint local agents when procuring strategic equipment.

Christensen termed Bangladesh’s agreement with international commodity trader Gunvor a positive development.

Muktadir assured the ambassador that protecting national interests remained the government’s top priority across all sectors and would continue to guide its decisions.