Increased inflow of FDI big \\\'challenge\\\', say businessmen

Attracting foreign direct investment has now become a major challenge in the country, said top business leaders said on Wednesday, urging the government to pursue foreign investment to increase exports, reports BSS.
The call came at the first meeting of the Commerce Ministry's business affairs consultative committee at EPB conference room.
The business leaders identified land, utility and infrastructure as key barriers to increasing investment.
"Bangladesh is maintaining healthy growth because of its economic openness but increasing export earning is a challenge.  Increasing investment is a must to bolster export," former FBCCI president Yussuf Abdullah Harun told the meeting.
Harun suggested taking urgent steps including reform in trade facilitation, financial sector and greater market access to new destinations to give the industry a fillip.
Commerce Minister Tofail Ahmed spoke on the occasion as the chief guest
Former presidents of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Salman F Rahman, Syed Manzur Elahi, Mir Nasir Hossain, Annisul Huq and AK Azad, current FBCCI president Kazi Akram Uddin Ahmed, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) M Atiqul Islam, president of Foreign Investors' Chamber of Commerce and Industry (FICCI) Rupali Chowdhury, vice-president of Bangladesh Knitwear Manufacturers and Exporters Association (BGMEA) Mohammaed Hatem and president of Dhaka Chamber of Commerce and Industry (DCCI) Shahjahan Khan spoke on the occasion.
Tofail Ahmed said necessary steps would be taken to form a number of sub committees of the consultative committee to have issue based discussion on trade and commerce with concerned ministries.
"We want to resolve all business related problems in phases.  We'll sit for results," he said adding that the government along with the businessmen want to give a big boost to the country's trade and commerce.
Manzur Elahi said around 100 investment proposals including joint ventures are now pending with the Board of Investment (BoI) due to the scarcity of land.
He also stressed the need for product diversification and increasing productivity for giving a big boost to the trade and commerce in the country.
Salman F Rahman said Bangladesh witnessed positive growth of 13 percent despite all economic problems. "We are ahead of our export target and the credit goes to the people of the country," he said.
"Businessmen are now united. We want to increase the country's trade and commerce," said Kazi Akram.