'Govt-pvt sector jt bid needed to build country's positive image'
Monday, 26 April 2010
FE Report
Bangladesh's government and private sector need to work together to build a positive image of the country in efforts to attract foreign investors, said German ambassador Holger Michael Sunday.
His comments came at the luncheon meeting of Foreign Investors' Chamber of Commerce and Industry (FICCI) in the city.
FICCI President A M Hamim Rahamatullah chaired the meeting, while HSBC Chief Executive Sanjay Prakash and FICCI Secretary General M A Matin also spoke.
The ambassador said there are many perceptions about Bangladesh, which play a big part in attracting foreign investors. "The government has to act to improve its positive perceptions."
"Perceptions play a major part in making investment decision. So the government and chambers have to work together to turn any negative image into a positive one."
He said the current ratings of Bangladesh by Moody's and S&P would help Bangladesh foster its positive image.
Mr Holger said Bangladesh needs investment in every sector particularly in infrastructure, natural resources, energy and human resources.
He said Bangladesh needs to achieve double digit growth to fulfil its development target and reduce poverty.
"As an investment destination, Bangladesh can offer win-win situation," the ambassador said.
He said the country's shipbuilding sector could be a potential sector in wooing foreign investors.
Mr Holger said Bangladesh has to remove bottlenecks such as energy crisis and improve transport facilities to become a sound destination.
"Besides, the investors have to be given incentives and labour standards have to be improved."
He said: "It is a very good sign the Bangladesh government admits they have bottlenecks and agreed to correct them. You have to put all the things together to make a positive picture."
He said it is the government's responsibility to improve the business environment.
He said Bangladesh is very lucky to have a vibrant and powerful private sector, which is actually the growth engine of the country. "The private sector is an asset the country can be proud of."
FICCI President Hamim Rahmatullah said as an emerging economy, Bangladesh needs investment in almost every sector, especially in infrastructure, energy, manufacturing, exploitation of natural resources and human resource development.
"Existing domestic resources alone cannot help address the issue. This is more pertinent now when the official development assistance from developed countries is on a significant decline globally."
"Under the circumstances, larger inflow of foreign direct investment into the country is the need of the day," said the chamber president.
Bangladesh's government and private sector need to work together to build a positive image of the country in efforts to attract foreign investors, said German ambassador Holger Michael Sunday.
His comments came at the luncheon meeting of Foreign Investors' Chamber of Commerce and Industry (FICCI) in the city.
FICCI President A M Hamim Rahamatullah chaired the meeting, while HSBC Chief Executive Sanjay Prakash and FICCI Secretary General M A Matin also spoke.
The ambassador said there are many perceptions about Bangladesh, which play a big part in attracting foreign investors. "The government has to act to improve its positive perceptions."
"Perceptions play a major part in making investment decision. So the government and chambers have to work together to turn any negative image into a positive one."
He said the current ratings of Bangladesh by Moody's and S&P would help Bangladesh foster its positive image.
Mr Holger said Bangladesh needs investment in every sector particularly in infrastructure, natural resources, energy and human resources.
He said Bangladesh needs to achieve double digit growth to fulfil its development target and reduce poverty.
"As an investment destination, Bangladesh can offer win-win situation," the ambassador said.
He said the country's shipbuilding sector could be a potential sector in wooing foreign investors.
Mr Holger said Bangladesh has to remove bottlenecks such as energy crisis and improve transport facilities to become a sound destination.
"Besides, the investors have to be given incentives and labour standards have to be improved."
He said: "It is a very good sign the Bangladesh government admits they have bottlenecks and agreed to correct them. You have to put all the things together to make a positive picture."
He said it is the government's responsibility to improve the business environment.
He said Bangladesh is very lucky to have a vibrant and powerful private sector, which is actually the growth engine of the country. "The private sector is an asset the country can be proud of."
FICCI President Hamim Rahmatullah said as an emerging economy, Bangladesh needs investment in almost every sector, especially in infrastructure, energy, manufacturing, exploitation of natural resources and human resource development.
"Existing domestic resources alone cannot help address the issue. This is more pertinent now when the official development assistance from developed countries is on a significant decline globally."
"Under the circumstances, larger inflow of foreign direct investment into the country is the need of the day," said the chamber president.