The incumbent government is providing continuous support for increasing FDI inflow and has already completed standard operation measures for providing smooth services to attract more foreign investors. It is heartening to note that foreign investors now can open accounts with banks in Bangladesh for their companies through applying online as Bangladesh Bank (BB) has relaxed regulations in this regard aiming to attract Foreign Direct Investment (FDI). Reportedly, under the new arrangement of BB, temporary Non-Resident Taka Accounts and temporary Foreign Currency Accounts may be opened in the name of proposed companies and enterprises of foreign investors contemplating to invest in Bangladesh.
Special attention should be given to ensure better
business facilities alongside market
diversification to garner more FDI
Foreign direct investment (FDI) has been playing a pivotal role in maintaining the tempo of the current economic development of Bangladesh. FDI, the building block of Bangladesh’s economic growth, is considered an important motivator of economic development and a principal avenue for the development finance. FDI has immensely contributed to reinforcing foreign reserves, creating new job opportunities and increasing labour skills in recent times and certainly all these are the consequences of the incumbent government’s relentless efforts and various time-befitting policies to attract investors and to create a congenial atmosphere for fuelling the FDI inflow.
It is worth mentioning that the incumbent government pursues the most liberal investment policy in South Asia which incorporates protection of FDI by law, duty free import of raw materials and Bangladesh is a good destination to invest as the country currently has no electricity and gas problems.
It needs no emphasising that FDI has been increasing over the years, however, experts say that yet there is room for further investment in the coming days, especially in the post-corona era. In this regard, special attention should be given to ensure better business facilities alongside market diversification to garner more FDI. Also business-friendly environment, taxation reform and long-term policy are needed to boost FDI inflow.
