Bangladeshi conglomerate eyes USD10-M investment in PH

MANILA A Bangladeshi conglomerate has expressed interest to invest some USD10 million in the Philippines, days after a report cited the country as the top destination for investments.

The Department of Foreign Affairs (DFA) said the SAASCO Group has requested the Philippine Embassy in Dhaka to support and assist them in introducing them to Philippine authorities in relation to their business endeavor.

The DFA said SAASCO Group Managing Director and CEO Shiekh Atiar Rahman has expressed the group's intention to establish a factory and export food products to Bangladesh.

SAASCO Group, founded in 1995, has been manufacturing and exporting high-quality garments to renowned international companies.

Some 14 companies and associates under it are involved in ceramics, packaging and marketing, energy, finance, news and entertainment media, communications, and real estate business.

Last March 8, Rahman called on Ambassador Vicente Vivencio Bandillo to discuss business investment opportunities in the Philippines.

Accompanying him were Sk. Akib Rhaman, SAASCO deputy managing director; Md. Abdulah Muslehuddin Sadi, director; and Md.Ramiz Uddin Bhuya, and Md. Sofiqul Islam Bito Howlader, advisers.

Based on scores from more than 6,000 business decision-makers, US News and World Report this year ranked the Philippines as the best country to invest in.

Among the qualities considered are the country's population, an economy supported by overseas Filipinos' remittances, and the flourishing tourism industry.

Source: Philippine News Agency

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