Malabar Gold and Diamonds, one of the largest jewellery retailers in the world, will invest up to US$100 million in the next three to five years, a senior company official announced at the Third Bangladesh Economic Forum that concluded at the Movenpick Grand Hotel in Dubai.

More than 300 delegates comprising business leaders from the UAE and Bangladesh were present at the Third Bangladesh Economic Forum, in which Bangladesh Foreign Minister Dr AK Abdul Momen, and Salman F Rahman, advisor to Bangladesh Prime Minister on Investment and Private Industries, delivered the keynote speech.

Bangladesh Foreign Minister Dr AK Abdul Momen, in his keynote speech, urged the UAE investors to invest in Bangladesh.

“Bangladesh is a very promising market for us. Bangladeshis represent a sizeable customer base amongst our global customer base. We see the demand for quality gold and diamond jewellery is growing rapidly in Bangladesh, which prompted us to enter the country. We expect faster return on investment in Bangladesh due to low-cost of operation that could result in higher return and increase our global footprint. We believe it is the right time to enter the market,” Ameer CMC, Director of Finance and Administration, Malabar Gold and Diamonds, said.