Bangladesh holds out hope for FDI in 11 sectors

Posted: ফেব্রুয়ারি 18, 2009 in Foreign direct investment(FDI)

Eleven sectors in Bangladesh deserve to receive foreign direct investment (FDI), said Asian Tiger Capital Partners (AT Capital) yesterday.

The sectors are energy, infrastructure, pharmaceutical, textiles, agriculture, healthcare, telecom, climate change, education, shipbuilding and light engineering, according to the financial institution focusing on private equity and venture capital.

 “AT Capital has developed a wide range of detailed sector reports to give potential investors information to help take investment decisions more effectively,” said Ifty Islam, managing partner of AT Capital, in a presentation in Dhaka.

Islam presented a keynote paper on “Achieving $5 billion foreign investment by 2015: Sectoral Opportunities for FDI in Bangladesh” at a discussion organised by AT Capital.

Federation of Bangladesh Chambers of Commerce and Industry President Annisul Huq, Bangladesh Enterprise Institute President Farooq Sobhan, former ambassador Muhammad Zamir and Apex Adelchi Footwear Managing Director Syed Nasim Manzur joined as discussants.

To attract foreign investment, Ifty Islam recommended four types of investment activities, such as national image building, investment generation, investor servicing and policy advocacy.

“Image building activities aims to build the perception of a country, as an attractive location for FDI. Investment generation involves identifying potential investors, who may be interested in establishing a presence in the country, developing strategies to contact them and starting a dialogue to make them commit to an investment project,” he said.

“Investor servicing involves assisting committed investors to analyse business opportunities, establishing a business and maintaining it. Policy advocacy encompasses initiatives aiming to improve the quality of the investment climate and identifying the views of the private sector in this area,” Islam said.

The purpose of investment promotion is to reduce the costs of FDI by providing information regarding the host country, helping foreign investors get through red tape, and offering fiscal or other incentives to international investors, Islam said.

The discussants said the new government should undertake proper plans to attract greater FDI to Bangladesh.

They said the government should spell out a clear message that Bangladesh is ready to do business and to facilitate business.

The daily star 18.02.2009




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