The Bangladesh International Investment Summit will be the second since it was first held in 2016. Prime Minister Sheikh Hasina could effectively start this event.
However, analysts say that holding such a summit may not be sufficient to attract foreign investors if investment-related laws are not properly implemented. They say they need an effective one-stop service facility to attract foreign investment.
Bangladesh will hold a summit in November to attract investors amid stagnant investment and foreign direct investment of around $ 2.5 billion annually. The Bangladesh Investment Development Agency (BIDA) highlights the steps taken in the last five years to improve the investment climate. Ease of business.
According to analysts, regional connectivity, ports and infrastructure development are needed to build confidence that investors can connect smoothly to the global value chain.
At a recent press conference, the Prime Minister’s adviser on private industry and investment issues, Salman F. Rahman, said Bangladesh has not yet fully utilized the investment environment created in recent years. The ratio of investment to national GDP is the lowest in South Asia.
“Bangladesh needs FDI to increase its investment-to-GDP ratio to drive GDP growth,” Bangladesh media reports said, and the summit attempts to attract foreign investors and expatriates to Bangladesh. I added that it would be.
In recent years, the ratio of public investment to GDP has been on the rise, but private investment has stagnated.
According to the Bangladesh Bureau of Statistics (BBS), the ratio of private investment to GDP in fiscal 2020-21 fell from 22.06 percent in the previous fiscal year to 21.25 percent. In the 2018-19 fiscal year, the country received $ 3.89 billion worth of FDI at 23.5%, the highest ever.
However, the pandemic had a negative impact on investment growth, as in fiscal year 2019-20, with the country down 39% from a year ago to attracting only $ 2.37 billion. It was $ 1.96 billion in the nine months leading up to March of the previous fiscal year.
BIDA said the investment scenario was good in Bangladesh and investors were optimistic until the pandemic.
Fiber2Fashion News Desk (DS)
Bangladesh International Investment Summit in November to Attract FDI
Source link Bangladesh International Investment Summit in November to Attract FDI