How to secure more FDI?

Foreign direct investment plays a pivotal role in growing a nation's economy, especially in the case of emerging countries like Bangladesh. A rapidly growing economy with a vast number of workers, FDI is the fuel for the nation's industries, technological advancement and overall economic growth. Foreign direct investment refers to when a foreign entity invests in businesses of another country. It not only brings much needed foreign currency but also establishes best global practices in the host country.

Although Bangladesh's Ready-Made Garments sector has made staggering progress for the economy, there may still be sleeping giants within the nation's economy. The call center industry holds promise; Bangladesh's young and dynamic workforce consisting of a large pool of workers allows the potential for growth to efficiently support and manage customer services for foreign businesses.

One of the country's greatest strengths lies in its strategic geological location at the crossroads between South and Southeast Asia with its stretching coastline along the Bay of Bengal. Serving as the connection between the two regions, Bangladesh can leverage its position to draw more foreign investments by developing its infrastructure. Bangladeshi people unaware of Bangladesh's marine resources, port activities dominated by poor technology and infrastructure, lack of proper policies and frameworks to best make use of the maritime resources renders the country's effectiveness of coastal resources mediocre at best. By improving its Chittagong and Matarbari ports, upgrading roads and railways they ensure smoother businesses in trade and logistics. The government must also implement appropriate policies for the efficient use of deep-sea mining and marine minerals. Moreover, potential areas of cooperation between Bangladesh and other nations must be explored and specified in developing better regional link and establishing deep seaports that will remain accessible to all.

Bangladesh is far from reaping its full industrial benefits and with proper government backing and policies, this achievement is more than reachable.

Raian Kabir

Student, Bachelor of Business Administration

North South University

raian.kabir.232@northsouth.edu