Donors suggest govt to facilitate investment

FE Team | Published: May 15, 2009 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
International donors at a meeting Thursday suggested the government to facilitate investment, particularly foreign direct investment, in the country aiming at raising domestic resources and weathering impact of the global meltdown.
"Next fiscal will be very difficult year for us. The donors have advised to increase the FDI flow which, they said, will help us face the impact of the recession," finance minister AMA Muhith told journalists after the meeting with development partners.
The Economic Relations Division (ERD) organised the meeting of the donors under the aegis of the local consultative group (LCG) at the planning commission in the city.
Planning minister, secretaries of the finance division and ERD, chief of different donor agencies and foreign missions in Bangladesh were present at the LCG meeting, first after the present government took power.
World Bank country director Xian Zhu said they had advised to boost investment facilities, eliminate corruption and bureaucratic complexities in the government and ensure efficiency in the public agencies to execute development projects in time.
"The ministers have briefed us on the government's strategies and priorities. We will continue our support to the initiatives for development," Mr. Zhu said.
AMA Muhith said they had mainly briefed about the policy, strategy and vision of the government towards development. "The donors have assured us of their continued support."
To a query on deficit financing in the next budget, Muhith said that the government would keep the budget deficit at 5.0 per cent of the gross domestic products in the next fiscal.
Describing sector-wise strategies of the government, the finance minister said they would carry on the 'Better Business Forum' in a bid to reduce the cost of doing business, a top official, who attended at the meeting, told the FE.
The minister briefed the donors about the priority sectors, including power and energy development, impact of the global economic downturn and introduction of public-private partnership in the development.
About the proposed industrial policy, prepared by the industries ministry, Muhith said there is scope for revision before its finalisation.
Admitting recent deterioration of law and order, Muhith told the meeting that corruption was number one challenge before the government, which would be eliminated through digitalisation in different sectors.
If the police, revenue department, land registration etc have been digitalised the corruption will be removed automatically, he said.
Planning Minister AK Khandakar told newsmen that they had briefed the donors on government's development strategies and plans and about the ongoing work on the "perspective plan (2010-2021)".
"We have sought donors' support to implement our election manifesto and the vision of a digital Bangladesh. They (donors) have assured us of their continued support," he said.
The donors participated at the meeting include World Bank, Asian Development Bank, Japan, the United Nations Development Programme, USAID, Denmark, the Netherlands and Department for International Development.