MCCI wants continuation of BBBF to attract FDIs
Sunday, 7 December 2008
FE Report
The Metropolitan Chamber of Commerce & Industry (MCCI), one of the country's leading trade promotion bodies, has called for continuation of the Bangladesh Better Business Forum (BBBF) in the larger interest of attracting investments, both local and foreign.
During its one-year existence, BBBF has succeeded in bringing significant improvements in the service culture of the public utilities, the MCCI noted in an editorial comment in the latest issue of its regular monthly publication, "Chamber News".
The Forum, it stated, has deliberated on issues which can have salutory impact on the investment environment. Implementation of some of its recommendations during the last 12 months has gone a long way to assure the local and foreign investors, the chamber observed while stating that such a trend would prove to be further helpful in attracting investments in the near future.
Noting that Bangladesh offers a better policy package for foreign investment than what is offered by the neighbouring countries, the MCCI said its economy has all the necessary ingredients for creating a conducive invesme successes in reducing income poverty at grassroot levels.
"It has also showed great resilience in the face of natural calamities. The country's macroeconomy has, on the whole, been stable and it has a low-cost, hardworking, educated, and easily trainabme successes in reducing income poverty at grassroot levels.
"It has also showed great resilience in the face of natural calamities. The country's macroeconomy has, on the whole, been stable and it has a low-cost, hardworking, educated, and easily trainab, the list of negative factors, which discourage foreign investment, is also overwhelmingly large", the MCCI stated.
Such factors, it added, include, inter alia, weak governance, administrative hassles, and poor level of infrastructure and poor services o, the list of negative factors, which discourage foreign investment, is also overwhelmingly large", the MCCI stated.
Such factors, it added, include, inter alia, weak governance, administrative hassles, and poor level of infrastructure and poor services o World Investment Report 2008 (WIR08), the chamber pointed out that global foreign direct investment (FDI) inflows rose in 2007 by 30% to reach an all-time high of US$ 1,833 billion.
"The unprecedented level of cross-border mergers and acquisitions (M&As) World Investment Report 2008 (WIR08), the chamber pointed out that global foreign direct investment (FDI) inflows rose in 2007 by 30% to reach an all-time high of US$ 1,833 billion.
"The unprecedented level of cross-border mergers and acquisitions (M&As)rder M&As involving private equity funds almost doubled, to US$ 461 billion--another record --accounting for over one quarter of the value of such transactions worldwide", it added.
"According to Unctad's report, the upward trend in 2007 was apparent in nerder M&As involving private equity funds almost doubled, to US$ 461 billion--another record --accounting for over one quarter of the value of such transactions worldwide", it added.
"According to Unctad's report, the upward trend in 2007 was apparent in ned countries amounted to US$ 1,248 billion, FDI inflows to developing countries reached their highest level ever--US$ 500 billion-- a 21 % increase over 2006. The United States remained the largest FDI recipient country, followed by the United Kingdom, Frand countries amounted to US$ 1,248 billion, FDI inflows to developing countries reached their highest level ever--US$ 500 billion-- a 21 % increase over 2006. The United States remained the largest FDI recipient country, followed by the United Kingdom, Fran West Asia have been growing in recent years and have exceeded those to Africa since 2004. All the same, investment in Africa also reached a historic high. Even, the least developed countries (LDCs) attracted US$ 13 billion worth of FDI in 2007 --also a re West Asia have been growing in recent years and have exceeded those to Africa since 2004. All the same, investment in Africa also reached a historic high. Even, the least developed countries (LDCs) attracted US$ 13 billion worth of FDI in 2007 --also a re most South Asian countries increased. Thus, inflows to India rose to $22.95 billion in 2007 from $19.66 billion, that in Pakistan to $5.33 billion from $4.27 billion, and in Sri Lanka to $529 million from $480 million", it said.
The chamber furthermore n most South Asian countries increased. Thus, inflows to India rose to $22.95 billion in 2007 from $19.66 billion, that in Pakistan to $5.33 billion from $4.27 billion, and in Sri Lanka to $529 million from $480 million", it said.
The chamber furthermore noted that Bangladesh "lost its ranking by one position to 121st in inward FIDI performance index and slipped to 119th from 117th in the inward FIDI potential index among 141 economies."
The Metropolitan Chamber of Commerce & Industry (MCCI), one of the country's leading trade promotion bodies, has called for continuation of the Bangladesh Better Business Forum (BBBF) in the larger interest of attracting investments, both local and foreign.
During its one-year existence, BBBF has succeeded in bringing significant improvements in the service culture of the public utilities, the MCCI noted in an editorial comment in the latest issue of its regular monthly publication, "Chamber News".
The Forum, it stated, has deliberated on issues which can have salutory impact on the investment environment. Implementation of some of its recommendations during the last 12 months has gone a long way to assure the local and foreign investors, the chamber observed while stating that such a trend would prove to be further helpful in attracting investments in the near future.
Noting that Bangladesh offers a better policy package for foreign investment than what is offered by the neighbouring countries, the MCCI said its economy has all the necessary ingredients for creating a conducive invesme successes in reducing income poverty at grassroot levels.
"It has also showed great resilience in the face of natural calamities. The country's macroeconomy has, on the whole, been stable and it has a low-cost, hardworking, educated, and easily trainabme successes in reducing income poverty at grassroot levels.
"It has also showed great resilience in the face of natural calamities. The country's macroeconomy has, on the whole, been stable and it has a low-cost, hardworking, educated, and easily trainab, the list of negative factors, which discourage foreign investment, is also overwhelmingly large", the MCCI stated.
Such factors, it added, include, inter alia, weak governance, administrative hassles, and poor level of infrastructure and poor services o, the list of negative factors, which discourage foreign investment, is also overwhelmingly large", the MCCI stated.
Such factors, it added, include, inter alia, weak governance, administrative hassles, and poor level of infrastructure and poor services o World Investment Report 2008 (WIR08), the chamber pointed out that global foreign direct investment (FDI) inflows rose in 2007 by 30% to reach an all-time high of US$ 1,833 billion.
"The unprecedented level of cross-border mergers and acquisitions (M&As) World Investment Report 2008 (WIR08), the chamber pointed out that global foreign direct investment (FDI) inflows rose in 2007 by 30% to reach an all-time high of US$ 1,833 billion.
"The unprecedented level of cross-border mergers and acquisitions (M&As)rder M&As involving private equity funds almost doubled, to US$ 461 billion--another record --accounting for over one quarter of the value of such transactions worldwide", it added.
"According to Unctad's report, the upward trend in 2007 was apparent in nerder M&As involving private equity funds almost doubled, to US$ 461 billion--another record --accounting for over one quarter of the value of such transactions worldwide", it added.
"According to Unctad's report, the upward trend in 2007 was apparent in ned countries amounted to US$ 1,248 billion, FDI inflows to developing countries reached their highest level ever--US$ 500 billion-- a 21 % increase over 2006. The United States remained the largest FDI recipient country, followed by the United Kingdom, Frand countries amounted to US$ 1,248 billion, FDI inflows to developing countries reached their highest level ever--US$ 500 billion-- a 21 % increase over 2006. The United States remained the largest FDI recipient country, followed by the United Kingdom, Fran West Asia have been growing in recent years and have exceeded those to Africa since 2004. All the same, investment in Africa also reached a historic high. Even, the least developed countries (LDCs) attracted US$ 13 billion worth of FDI in 2007 --also a re West Asia have been growing in recent years and have exceeded those to Africa since 2004. All the same, investment in Africa also reached a historic high. Even, the least developed countries (LDCs) attracted US$ 13 billion worth of FDI in 2007 --also a re most South Asian countries increased. Thus, inflows to India rose to $22.95 billion in 2007 from $19.66 billion, that in Pakistan to $5.33 billion from $4.27 billion, and in Sri Lanka to $529 million from $480 million", it said.
The chamber furthermore n most South Asian countries increased. Thus, inflows to India rose to $22.95 billion in 2007 from $19.66 billion, that in Pakistan to $5.33 billion from $4.27 billion, and in Sri Lanka to $529 million from $480 million", it said.
The chamber furthermore noted that Bangladesh "lost its ranking by one position to 121st in inward FIDI performance index and slipped to 119th from 117th in the inward FIDI potential index among 141 economies."