Currently, Bangladesh is one of the promising economies with a large domestic market, availability of labour with competitive price, low utility charges, Seaports, long-term tax holiday, and easy access to largest regional market like India and China.
President of the South Asian Federation of Accountants (SAFA) CMA Dr. PVS Jagan Mohan Rao said these at a press conference on Foreign Direct Investment and Corporate Governance organized by the Institute of Chartered Accountants of Bangladesh(ICAB) on Sunday at its Conference Room. ICAB President AF Nesaruddin FCA, Council Member Humayun Kabir FCA and Delegates from India, Pakistan, Sri Lanka and Nepal also spoke in the conference.
CMA Dr. PVS Jagan Mohan Rao said, Bangladesh is already being recognised as a thriving investment hub, and this is reflected in the country’s foreign direct investment (FDI) inflows”. He further added that four different FDI models like government investment facility in EPZ, forming private economic zones more than 100, Public Private Partnership (PPP) and Country’s specific Economic Zones could be bonanza for foreign direct investment in Bangladesh. RMG is calculated about 80% of total exports of the country. However, Bangladesh needs export diversification in addition to RMG, the SAFA President suggested.
ICAB President AF Nesaruddin FCA said, fiscal and other incentives including repatriation of capital and profit are available for foreign investors. Bangladesh is also in a suitable position to supply skilled manpower and ready to undertake high-tech industries. This is high time to invest in Bangladesh, he added.
Ease of Doing Business index 2020, Bangladesh progresses 8 notches up and we have FDI potentials in many fields including industries and infrastructures, he stated and said that we are working hard in delivering the quality services to support enterprise, corporate governance and sustainable growth in the overall business environment.
