FE Report
Local and foreign investment showed a significant drop-off last month as power and gas shortage weighed on the capital flow, the investment board said.
Investment proposals marked a 39 per cent fall in March over the previous month, data released by the Board of Investment (BoI) showed.
The amount of investment registered with the board stood at around Tk 66 billion in the month of March, down by Tk 42 billion a month ago. In February, investors registered proposals worth Tk 108.48 billion.
Of the total, local entrepreneurs registered more than Tk 60 billion investment proposals in March. Foreign investors registered Tk 5.43 billion investment proposals during the time.
Statistics showed, although local investment registered good growth during the month, foreign investment proposals slumped during the same period.
Local investment registration recorded a 24.3 per cent growth while foreign investment recorded a 90.97 per cent decline in the month of March.
According to the statistics, service sector attracted the highest amount of FDI which accounts for 44 per cent of the total FDI proposal in the month of March.
Chemical industries account for 17 per cent, agriculture sector 12 per cent, textiles sector 11 per cent, and engineering 10 per cent of the total FDI proposals.
If materlised, the investment will create employment opportunities for a total of 41, 881 persons.
Executive director of the Centre for Policy Dialogue (CPD) Mustafizur Rahman said foreign investment registration pattern is very volatile.
"It is very difficult to say anything from the monthly investment registration figure. But if we consider quarterly figures of investment registration, that is very encouraging for this year," he said.
He said the main challenge is to implement the investment proposals by improving infrastructure such as gas and electricity.
FDI proposals fall by 90pc in Mar
FE Team | Published: April 24, 2011 00:00:00 | Updated: February 01, 2018 00:00:00
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