The government is working to reduce the cost of overseas migration for Bangladeshi workers to a maximum of Tk 3 lakh from the current Tk 10 lakh-Tk 14 lakh, State Minister for Foreign Affairs Shama Obaed Islam said on Monday.

“Due to unscrupulous businesses and syndicates, many expatriates have to sell their land and other assets to spend Tk 10 lakh to Tk 14 lakh to go abroad. The government has started working to bring down the cost to a maximum of Tk 3 lakh,” she said.

The state minister was speaking as the chief guest at the “Bangladesh Remittance Awards 2026” in Singapore, jointly organised by daily Bonik Barta and Singapore-based Thakral Group to honour Bangladeshi expatriate workers.

Shama Obaed said around 150,000 Bangladeshis are currently employed in various key sectors in Singapore.

Bangladesh received around $45 billion in remittances in the 2024-25 fiscal year, with Singapore contributing approximately $475.03 million, she said.

The government, under the leadership of Prime Minister Tarique Rahman and guided by a “Bangladesh First” policy, is working to attract new investment and create employment opportunities, the state minister said.

She said a dedicated Migration Wing has been established at the Ministry of Foreign Affairs for the first time to provide comprehensive services for migrants and ensure faster resolution of their problems.

The wing is working as a joint working group with the Ministry of Expatriates’ Welfare and Overseas Employment, Shama Obaed added.

She said Bangladesh and Singapore are expanding cooperation in manpower and employment, with discussions continuing on skills development, re-employment, intra-company transfers and ensuring fair working conditions.

Addressing Bangladeshi expatriates in Singapore, the state minister urged them to send remittances through formal banking channels instead of hundi, respect Singapore’s laws and work culture, use social media responsibly and refrain from extremist or hate-driven campaigns.

She also urged them to respect people of different languages and religions and maintain social harmony, while continuously developing their skills in new technologies, technical fields and languages.

At the event, 15 outstanding Bangladeshi expatriate “remittance warriors” were honoured for their contributions.

Four organisations, two Commercially Important Persons (CIPs) and three leading exchange houses affiliated with Bangladesh-based banks in Singapore also received special recognition.

The state minister handed over the awards and recognition crests to the recipients.

Representatives of government and financial institutions from Bangladesh and Singapore, officials of the Bangladesh High Commission and members of the Bangladeshi expatriate community attended the event.