Bank & Insurance

FICCI members channelize 85pc FDI in Bangladesh

Published : 29 Apr 2019 06:30 PM | Updated : 06 Sep 2020 08:15 PM

 The FICCI-member organisations, both local and foreign engaged in business Bangladesh are contributing to channelizing over 85 percent of total foreign direct investment (FDI) coming into the country.

They are also influencing over 3 million lives directly and indirectly, contributing 30 percent of total internal revenue and are 4 out of 5 top revenue contributing sectors in Bangladesh.

Besides, FICCI (Foreign Investors’ Chamber of Commerce and Industry) organisations are touching lives of millions of Bangladeshis every day and every moment through running business in fast moving consumer products, services, telecommunication or financial institution.

These were revealed at a programme organised by FICCI on celebration of its 55th anniversary in Bangladesh at a gala night at Pan Pacific Sonargaon Dhaka recently.

In its journey of over 55 years, FICCI has been involved in numerous crucial activities to make Bangladesh more trade friendly and attract more foreign companies to invest in the nation of possibilities, helping Bangladesh to graduate from LDC to developing nation, the FICCI officials said.

 FICCI started its journey on 1st July 1963. Back then, it was called “Agrabad Chamber of Commerce & Industry” as Agrabad in Chattagram was the commercial hub. But in 1987, the chamber was shifted to Dhaka and was named Foreign Investor’s Chamber of Commerce & Industry (FICCI). FICCI is the trusted hub for any foreign investor as a source of insight, prospect and development in accordance to Bangladesh.

At the programme, FICCI has appreciated three organizations – the Bangladesh Investment Development Authority (BIDA), the National Board of Revenue (NBR) and the Bangladesh Police Force through awards for their relentlessly efforts in making people’s lives better.

Planning Minister M A Mannan was present at the event as the chief guest. FICCI’s former presidents, executive committee members, foreign delegates, diplomats as well as media personnel were present on the occasion. 

In his speech, Shehzad Munim, president of FICCI said, "Since its inception FICCI, as a premier body of foreign investors, is here to extend full support to the Government in promoting FDI. In the process, it intends to aid the development of Bangladesh through its activities and member organizations. Today is an auspicious occasion for us where we not only celebrate the 55th anniversary of FICCI but we celebrate 55 years of FICCI growing with Bangladesh and celebrating Bangladesh."