Uncertainty worst thing for businessmen, says EC delegation chief
Wednesday, 31 October 2007
Head of European Commission (EC) Delegation Ambassador Dr Stefan Frowein said, if any action in political field made foreign direct investment or predictability of economic activities difficult, the government and the people of Bangladesh would have to find the redress, reports UNB.
He made the remarks in response to questions at a seminar on EC Information Day about how the EU visualises the country's trade and investment scenario over the next one year against the backdrop of anti-corruption drive and political syndrome on the ground.
"Anti-corruption drive is good, but it has to be done and implemented through respecting due process," the European diplomat told the function.
Frowein said, "It is clear from the business community that they do not know how far it goes and how long it goes, it contributes to the feeling of uncertainty and uncertainty is the worst thing for businessmen."
Stressing the need for pro-poor growth for employment of the poor and investment in rural areas, he said, it needs activities of the private sector and foreign direct investment.
"Without private sector and foreign direct investment, this country cannot get further - it is so much desperately needed," he told a questioner.
The EC Ambassador said, "whatever you do in the political field, if it hampers you, if it makes foreign direct investment or predictability of economic activities difficult, that is some thing you, the government and the people of this country have to work out."
He further observed that the anti-corruption drive, being carried out by the present interim regime, is good but it has to go for a situation where things are more confident and people can look forward.
Frowein called for creating a climate conducive to foreign investment, investment in general and moving the economy forward. The Ambassador said, they are monitoring the economic situation "very closely" and try to get information as much as possible from the EU sources.
He made the remarks in response to questions at a seminar on EC Information Day about how the EU visualises the country's trade and investment scenario over the next one year against the backdrop of anti-corruption drive and political syndrome on the ground.
"Anti-corruption drive is good, but it has to be done and implemented through respecting due process," the European diplomat told the function.
Frowein said, "It is clear from the business community that they do not know how far it goes and how long it goes, it contributes to the feeling of uncertainty and uncertainty is the worst thing for businessmen."
Stressing the need for pro-poor growth for employment of the poor and investment in rural areas, he said, it needs activities of the private sector and foreign direct investment.
"Without private sector and foreign direct investment, this country cannot get further - it is so much desperately needed," he told a questioner.
The EC Ambassador said, "whatever you do in the political field, if it hampers you, if it makes foreign direct investment or predictability of economic activities difficult, that is some thing you, the government and the people of this country have to work out."
He further observed that the anti-corruption drive, being carried out by the present interim regime, is good but it has to go for a situation where things are more confident and people can look forward.
Frowein called for creating a climate conducive to foreign investment, investment in general and moving the economy forward. The Ambassador said, they are monitoring the economic situation "very closely" and try to get information as much as possible from the EU sources.