BOI prepares strategic paper to stimulate investments
Friday, 18 September 2009
A strategic paper is now at the final stage, which will suggest the government policy matter to stimulate local and foreign investors while it will deal with the impact of global recession, reports BSS.
The Board of Investment (BOI) is preparing the strategic paper and planning to get approval from the higher authorities soon, BOI Executive Chairman Dr SA Samad said Thursday.
Dr Samad said attracting investment had become more critical with the impact of global financial downturn, but the BOI was preparing a strategic paper to showcase the country's investment opportunities.
The BOI chief was speaking on the occasion of releasing the "World Investment Report 2009" at his office in the city. The UNCTAD report predicted a global downward trend in the inflow of the Foreign Direct Investments (FDIs) due to recession fallout.
Like many developed countries, South Asian nations, including Bangladesh, will also experience a reversal in the FDI inflow, which hit a historical 17 per cent high in 2008.
Last year, Bangladesh achieved a phenomenal 36 per cent growth in the FDI flow with substantial investment in the telecommunication sector.
The BOI is optimistic about the prospects of the both local and foreign investments this year despite the apprehension of the meltdown impact of recession.
Bangladesh Bank's initial data shows 338.4 million US dollar inflow of FDIs until July this year, down from US $ 454 million during the same period of the previous year.
There was also a nine per cent decline in the number of both domestic and overseas entrepreneurs who have been registered with the BOI for investment.
The Board of Investment (BOI) is preparing the strategic paper and planning to get approval from the higher authorities soon, BOI Executive Chairman Dr SA Samad said Thursday.
Dr Samad said attracting investment had become more critical with the impact of global financial downturn, but the BOI was preparing a strategic paper to showcase the country's investment opportunities.
The BOI chief was speaking on the occasion of releasing the "World Investment Report 2009" at his office in the city. The UNCTAD report predicted a global downward trend in the inflow of the Foreign Direct Investments (FDIs) due to recession fallout.
Like many developed countries, South Asian nations, including Bangladesh, will also experience a reversal in the FDI inflow, which hit a historical 17 per cent high in 2008.
Last year, Bangladesh achieved a phenomenal 36 per cent growth in the FDI flow with substantial investment in the telecommunication sector.
The BOI is optimistic about the prospects of the both local and foreign investments this year despite the apprehension of the meltdown impact of recession.
Bangladesh Bank's initial data shows 338.4 million US dollar inflow of FDIs until July this year, down from US $ 454 million during the same period of the previous year.
There was also a nine per cent decline in the number of both domestic and overseas entrepreneurs who have been registered with the BOI for investment.