FBCCI president Kazi Akram Uddin Ahmed has pointed out absence of political stability and poor infrastructure facilities, especially primary energy, as major impediments to boosting FDI (foreign direct investment) inflow in Bangladesh.
Chief of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said that the hurdles are not only discouraging the overseas investors but also the local entrepreneurs who have immense interest to invest in many potential sectors here.
He made the observation at a discussion meeting with the visiting National Defence Course (NDC) delegation Monday at the Federation Bhaban where the businessmen urged the NDC team to develop positive impression about Bangladesh to the world for the greater interest of the country.
Air Vice Marshal M Sanaul Haque led the 80-member delegation which includes 29 overseas course members from 12 countries-China, Egypt, India, Jordan, Kuwait, Malaysia, Nigeria, Pakistan, Saudi Arabia, Sri Lanka, Tanzania and the UK.
The NDC's aim to hold this meeting was to make interaction with the business leaders of FBCCI to gather first-hand knowledge on the vision, role, function and capabilities of private sectors and the trade bodies.
Responding to a question, FBCCI president said being the country's apex trade body, they have been talking to the government, state agencies concerned and other political parties in respect of the issue of political stability.
"I'm telling you that many FDI proposals are there but now these are very much shaky in the absence of stable political atmosphere," he said.
Stressing on the importance of infrastructure development and adequate supply of power and energy to the industries, he said the situation has partially been improving as industries are now getting power supply around 12 hours a day.
"Without employment and investment, the country's economy cannot grow. So we're hopeful that things will improve in the coming days," he said.
Terming the rural economy a vibrant one, he said per capita income of the people in rural areas has also increased significantly over the years.
"Not only foreign investors, local investors are also eager to invest in various sectors if we give them a pro-business atmosphere here," he said.
Mentioning contribution of the private sector to the economy, Mr. Ahmed said the private sector contribution to the country's overall export is around 95 per cent and the share of investment showed a rising trend from 17.2 per cent in the Financial Year (FY) of 2002-2003 to 19 per cent of GDP (gross domestic product) in FY 2012-2013.
Responding to another query, FBCCI director Abdul Haque said the country needs social and physical infrastructure to boost FDI inflow here.
"We also need a good number of industrial parks having all kinds of facilities for the foreign investors and the government is paying serious attention to the issue," he said.
Speaking on the occasion, team leader Air Vice-Marshal M Sanaul Huq said it is the key responsibility of the armed forces to ensure national security but at the same time the force has to protect trade and investment.
Referring to the business entrepreneurs as the driving force for economic development of Bangladesh, he said they must protect the track as the country's economic development largely depends on the success of the business community.
