Bangladesh needs to ensure infrastructure development, energy and power security and most importantly a stable political environment to attract both domestic and foreign investments, business leaders told a discussion here on Saturday.
Dhaka Chamber of Commerce and Industry (DCCI) organised the roundtable discussion at its conference room on opportunities and challenges of foreign direct investment.
CEO of Grameenphone Ltd Vivek Sood, President of Santos Bangladesh Andrew De Garis, President of Korean EPZ Jahangir Saadat were present as discussants at the discussion held with DCCI President M Sabur Khan in the chair.
Sabur Khan said foreign direct investment (FDI) has a great impact on the economic development of a country like Bangladesh.
“FDI doesn’t only bring the sources of fund but also bring new technologies, new avenues of knowledge and training of manpower and market expansion. It also creates employment opportunities and boost export and government’s revenue collection,” he said.
Sabur Khan said Bangladesh has huge potentials to attract FDI, especially in RMG, telecommunications, electronics, automobiles, IT & ITES, energy, transport, healthcare and banking sector.
The DCCI President said to attain the target of becoming a middle-income country by the year 2021, Bangladesh needs to ensure sustainable investment-friendly environment.
“In order to attract more FDI, we need to remove bureaucratic inertia and ensure reformation of policies, land acquisition and availability, energy and power security and political stability.”
Jahangir Saadat, in his presentation, Bangladesh has to make sure of infrastructure development, energy and power security to attract not only foreign direct investment but also to attract local investments.
He also stressed political stability terming it a must for attracting the FDI in a country like Bangladesh.
Vivek Sood stressed bringing transparency in the activities of government and updating the telecommunication policy in consultation with the stakeholders and forming an investment-friendly tax policy.
Andrew De Garis urged for a politically congenial atmosphere for the sake of attracting more FDI and formulating an energy regulatory policy.
DCCI former presidents Sayeeful Islam, Hossain Khaled, former directors R I Khan, CEO Bangladesh Foreign Trade Institute (BFTI) Dr M Mozibur Rahman, President of Dutch-Bangla Chamber of Commerce Shahzada A Hamid, Convenor S Rumi Saifullah took part in the open discussion.
DCCI Vice President Absar Karim Chowdhury, directors Haider Ahmed Khan, Rizwan-ur Rahman, Humayun Rashid, M Abu Hurairah, Hosain A Sikder, Alhaj Abdus Salam and Md. Shoain Choudhury were also present.