CA urges Malaysian conglomerates to invest in Bangladesh

Chief Adviser Professor Muhammad Yunus today urged Malaysia’s leading conglomerates to invest in Bangladesh’s affordable housing, ports, healthcare, and education sectors.

The call came during a series of meetings in Kuala Lumpur with some of Malaysia’s most prominent business leaders.

Prof Yunus invited Jeffrey Cheah, chairman and founder of the Sunway Group, to invest in affordable housing in Bangladesh — particularly for the growing number of factory workers living near industrial parks and economic zones.

“It is time to invest in Bangladesh,” said Prof Yunus, highlighting the reforms undertaken by his government to create a more business-friendly environment.

Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun underscored the urgent need for large-scale investment in housing and construction, especially in the southeastern region where new ports and economic zones are being developed.

“Bangladesh is witnessing rapid urbanisation. We need massive investment to build homes and facilities for millions of workers and new city residents,” he said.

He also encouraged the Sunway Group — one of Malaysia’s largest healthcare providers — to establish hospitals in Bangladesh.

Cheah responded that his companies would “definitely” explore business opportunities in the country. He also expressed interest in offering scholarships to Bangladeshi students, noting that tens of thousands of Bangladeshis currently work in Sunway’s construction and housing divisions.

Praising Bangladeshi workers, Cheah revealed he had urged Malaysian authorities to extend their permitted stay beyond six years. 

In a separate meeting, Malaysian tycoon Syed Mokhtar Al-Bukhary — owner of national carmaker Proton and infrastructure giant MMC Corporation Berhad — voiced his commitment to supporting Bangladesh through investment.

“It’s not just for profit-making; we want to do this because of the Bangladeshi people,” he said during his meeting with Prof Yunus.

Syed Mokhtar also stressed the need for responsible relocation in projects involving river development and fishing communities.

Prof Yunus reiterated that the interim government of Bangladesh had introduced wide-ranging reforms to ease business and investment procedures.

BIDA Executive Chairman Ashik Chowdhury identified solar energy and agro-processing as priority investment sectors. Syed Mokhtar expressed optimism about Bangladesh’s solar potential, noting his group’s interest in both renewable energy and food security.

As a gesture of goodwill, Syed Mokhtar presented Prof Yunus with a book compiling 20 years of research on the 18th-century Indian anti-colonial ruler Tipu Sultan, reports BSS.