Infrastructural dev, improved law and order needed for FDI growth
Wednesday, 11 January 2012
FE Report
Foreign investors at a monthly luncheon meeting Tuesday emphasised on infrastructural development, implementation of intellectual property right and improvement in law and order for a sustainable growth in foreign direct investment (FDI) in Bangladesh.
The Foreign Investors' Chamber of Commerce and Industry (FICCI) organised the meeting at a hotel in the city.
Commerce minister Ghulam Muhammad Quader, MP was present as chief guest at the meeting. FICCI president Syed Ershad Ahmed, vice-chairman Laurant Therond and a good number of foreign investors attended the meeting.
Syed Ershad Ahmed said: "No one can ensure growth of FDI in Bangladesh unless the energy situation is improved."
He also said: "The incentive package in Bangladesh is excellent but lack of proper governance, infrastructural development and uncertainty in law and order stand in the way of FDI in Bangladesh."
"Besides, government's apathy in implementation of Intellectual Property Right is also another obstacle to FDI in the country," he added.
"Dependency on ready made garment (RMG) is very risky for the country," Mr Ahmed said suggesting that Bangladesh should immediately concentrate on product diversification for export.
Ghulam Muhammad Quader said that the government is very much keen to ensure all types of infrastructural development of the country but due to some unavoidable circumstances, the government at times fails to achieve the target.
The commerce minister also said, "The situation is not so bad as you see it in the newspapers."
Encouraging the investors, the minister said: "People know how to survive, sometime entrepreneurs show the government the right path to follow which proves its potentiality."
"The local entrepreneurs have achieved much despite global recession," he added.
FICCI vice president urged the government to ensure level playing field for both local and foreign investors.
"We are here to help Bangladesh's development, but I would request the government to maintain a level playing field for all investors."
Foreign investors at a monthly luncheon meeting Tuesday emphasised on infrastructural development, implementation of intellectual property right and improvement in law and order for a sustainable growth in foreign direct investment (FDI) in Bangladesh.
The Foreign Investors' Chamber of Commerce and Industry (FICCI) organised the meeting at a hotel in the city.
Commerce minister Ghulam Muhammad Quader, MP was present as chief guest at the meeting. FICCI president Syed Ershad Ahmed, vice-chairman Laurant Therond and a good number of foreign investors attended the meeting.
Syed Ershad Ahmed said: "No one can ensure growth of FDI in Bangladesh unless the energy situation is improved."
He also said: "The incentive package in Bangladesh is excellent but lack of proper governance, infrastructural development and uncertainty in law and order stand in the way of FDI in Bangladesh."
"Besides, government's apathy in implementation of Intellectual Property Right is also another obstacle to FDI in the country," he added.
"Dependency on ready made garment (RMG) is very risky for the country," Mr Ahmed said suggesting that Bangladesh should immediately concentrate on product diversification for export.
Ghulam Muhammad Quader said that the government is very much keen to ensure all types of infrastructural development of the country but due to some unavoidable circumstances, the government at times fails to achieve the target.
The commerce minister also said, "The situation is not so bad as you see it in the newspapers."
Encouraging the investors, the minister said: "People know how to survive, sometime entrepreneurs show the government the right path to follow which proves its potentiality."
"The local entrepreneurs have achieved much despite global recession," he added.
FICCI vice president urged the government to ensure level playing field for both local and foreign investors.
"We are here to help Bangladesh's development, but I would request the government to maintain a level playing field for all investors."