Muhith for diversification of FDI in BD

Finance Minister AMA Muhith on Thursday stressed diversification of foreign direct investment (FDI) in Bangladesh, saying that foreign investment in the country now only concentrates on two sectors – power and communication. ‘In Bangladesh, this is a feature that our foreign investment is concentrated in two sectors, which are power and communication. There is a need for diversification to this end,’ Muhith said while addressing a function in the conference room of the Finance Ministry when the office bearers of Infrastructure Development Company Limited (IDCOL) handed over a cheque for Tk 140 million to the government as dividend for fiscal 2012-13. Speaking on the occasion, Muhith said that considering the domestic market of the country, there is a need for more foreign investment in the manufacturing sector. ‘We expect sufficient foreign investment in the manufacturing sector.’ He said that the country’s economy is gradually becoming sophisticated and said the sophisticated sectors should get more investment, according to UNB.