Apr 25, 2014, 1:07 am (BST)
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Global financial recession creates scope for FDI for Bangladesh, seminar told
DHAKA, March 28 (BSS) - Scopes have been created for Bangladesh to attract foreign direct investment (FDI) after the global economic downturn, said Prof Mamun Rashid of BRAC University.

Presenting a keynote paper at a seminar here, he said FDI inflow has become indispensable for Bangladesh to transfer new technologies, skills and management practices.

Board of Investment (BOI) organized the seminar on "Economic Meltdown in Europe and Investment Opportunities in Bangladesh" in the BOI seminar room.

Among others, BOI executive chairman Syed A Samad also addressed the seminar.

Rashid said the European sovereign debt crisis is an ongoing financial crisis that has made it difficult for some countries in the Eurozone to refinance their government debt without the assistance of third parties.

Amid the Eurozone crisis, he said, Bangladesh has seen a substantial amount of foreign investments in promising sectors in recent years.

The sectors are power, telecommunication, health care, education, business process outsourcing, pharmaceuticals, textile and first moving consumer goods.

He said foreign investment will grow substantially if Bangladesh can eliminate bureaucracy, make land acquisition and construction easier, upgrade regulations and implementation process.

Infrastructure development should become and integral part of any host government's strategy, he added.

Samad said Bangladesh has proved to be a resilient and attractive investment destination even in the thick of a severe global economic downturn.

New opportunities are emerging for foreign investors in Bangladesh every day, he added.
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