Top Turkish business group plans to invest in Bangladesh

Top Turkish business group Koc Holdings has planned to set up a component manufacturing plant in Bangladesh in an effort to export components to its factories all over the world, senior company officials said Thursday.

The $60 billion conglomerate specialises in producing vehicles, home appliances, food products, textile and construction materials and also provides financial services.

Fatih Kemal Ebiclioglu, president of the durable unit of Koc Holdings, announced the plan when he led a business delegation to meet Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna in Dhaka.

Fatih said the company has set up a home appliance manufacturing plant at Araihazar in Narayanganj after acquiring Singer Bangladesh Limited several years ago.

"We are in the second stage of our investment in Bangladesh, which has good potential," he said while talking about business prospects in the country.

Professor Yunus welcomed more Turkish investment in the manufacturing sector in Bangladesh, saying the country was now ready for business.

"Set up factories in Bangladesh to export goods to Turkey, Europe, and all over the world," the Chief Adviser said.

Professor Yunus said Bangladesh could be a manufacturing and production hub for Halal goods. "It can easily be an assembly investment hub as well," he said.

Lutfey Siddiqi, chief adviser’s special envoy on international affairs, was also present during the meeting.