Speakers at a conference on Saturday said non-resident Bangladeshis (NRBs) will not come and invest in the country if investment-friendly environment and easy exit policy on profit and capital are not ensured.
The amount of inward remittance against 14 million expatriates and non-resident Bangladeshis is much lower than those of other countries having the same or even a smaller number of expatriates, they added.
The speakers also urged the government to work for building better institutional capacity to draw NRB investment in the country.
The discussants made the call while speaking at the opening conference of World Conference Series 2019 styled "Responsible Citizen- Prosperous Country" at a city hotel.
The Centre for Non-Resident Bangladeshi will organise a series of conferences in India, Malaysia, the UAE, Qatar, Saudi Arabia, Egypt, Turkey, Europe, Australia, Bangladesh, UK and USA round the year.
Speaking at the programme, Federation of Bangladesh Chambers of Commerce and Industry President Shafiul Islam Mohiuddin said expatriate Bangladeshis send remittances through illegal channel because it is cheaper.
"So, the government should address the issue and make the cost of sending remittance cheaper if the government wants remittance through legal channel," he said.
Financial Reporting Council Chairman CQK Mustaq Ahmed said NRBs will not invest in the country only for patriotism. "Secure and trustworthy investment environment will help draw NRB investment."
He also said FRC will be working for it to ensure an environment of trust so that they can invest.
Bangladesh Investment Development Authority (BIDA) Chairman Kazi Aminul Islam said the country has to make space for NRBs.
"Without ensuring proper environment, institution and investment exit policy, they (NRBs) won't come in Bangladesh," he said.
London Tower Hamlets Speaker Ayas Mia urged the government to bring NRBs under the national ID database. He also requested the policymakers to ease tax return policy.
Speaking as the chief guest, Planning Minister MA Mannan said farmers, workers and expatriate Bangladeshis are three pillars of the country's development.
He advocated for 24-hour consular service in Bangladeshi missions abroad where a large number of workers live in. At the function, Centre for NRB awarded 10 banks, 11 individuals and eight organisations for their contributions in 2018.
With Centre for NRB chairman Shekil Chowdhury in the chair, DCCI President Osama Taser, Pubali Bank Managing Director Abdul Halim Chowdhury, Agrani Bank Managing Director Shamsul Islam Chowdhury, and National ID Project Director General Brigadier General Md Saidur Rahman, among others, also spoke at the programme.
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