American Ambassador to Bangladesh Marcia Bernicat on Tuesday said Bangladesh is on its way to becoming a regional lynchpin and an important consumer market.
She said this while speaking at the Chamber of Commerce Luncheon on Tuesday at the Westin.
While speaking about the country’s energy needs, the ambassador emphasized on the need of attracting Foreign Direct Investment (FDI) in order to identify the country’s energy needs and generate the power required for economic growth.
She added that through the help of FDI, Bangladesh could bring in the United States’ world-class technologies and skills to help the country diversify its exports, better connect its market to its neighbors and beyond, and seize opportunities in an increasingly interlinked global economy.
“Bangladesh has been able to gain an annual FDI of $1.5 for the last few years but Economists and bankers believe that even higher levels of FDI could drive higher rates of economic growth. By some estimates, the country may need up to $50 billion in infrastructure investments alone to maximize its growth potential,” added Bernicat.
“The United States wants to help the millions escape poverty in Bangladesh. We want to help the entrepreneurs pursue their dreams and help them develop a network around the world.”
She said in order to attract more FDI, there has to be a good investment environment.
“During our Trade and Investment Framework Cooperation Agreement (TICFA), the investment climate and boosting FDI was the core issues discussed.”
Law Minister Anisul Huq and President Nurul Islam of the American Chamber of the Board also spoke in the occasion.
Source: Ittefaq
