Atiur urges Lankan investors to invest in BD

FE Team | Published: July 23, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Terming Bangladesh's policy stance for inward foreign investment as very liberal, Bangladesh Bank Governor Dr Atiur Rahman has urged Sri Lankan investors to invest in Bangladesh for mutual economic benefits of the two countries, reports BSS.
"Bangladesh's growing pool of low-cost tech-savvy youthful educated workforce, and its welcoming liberal policy stance for inward foreign investment is attracting widespread investor interest, from East Asia, South Asia, Middle East and the Western advanced economies," the governor said this, while making a presentation on "Bangladesh: Macro-economic Environment and Investment Opportunities" in Sri Lankan capital of Colombo.
The discussion on Bangladesh-Sri Lanka bilateral trade and investments was organized on the sidelines of a multilateral SAARCFINANCE meeting event, according to a message received Tuesday.
Atiur Rahman said Bangladesh's policy stance towards inward foreign investment is very liberal and all industrial sectors excepting arms/ammunitions, forestry, nuclear energy, minting and security printing are open for local and foreign private sector investment.
"Foreign investments can be as joint ventures with local investors or wholly foreign-owned entities," he added.
He said big-ticket infrastructure investments are a priority for Bangladesh, but smaller-sized FDI in IT-enabled services industries and sustainability enhancing "green" projects in the real sector may perhaps also be particularly suitable for innovative Sri Lankan investors.
Manufacturers-exporters from Sri Lanka may find setting up production units in Bangladesh useful for availing the preferential market access still available to Bangladesh as an LDC, the governor said.
In the financial sector, the central bank said the BB would be prepared to consider licensing of branches or subsidiaries of Sri Lankan banks and financial institutions, subject to their bringing in newer, less developed dimensions in Bangladesh financial markets, like private equity and venture capital financing, issuance and trading in mortgage-backed securities, secondary trading in corporate debts and so forth.
He said post tax profits/divi-dends/disinvestment proceeds of the non-resident-owned investments are freely repatriable abroad. Foreign-owned businesses can access local financial markets for local currency financing, and they can also borrow abroad in the same manner as for their locally-owned counterparts, he added.