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- Oct 29, 2010
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Bangladesh moves 4 steps up to 114th position from 119 among 141 countries rated in terms of Foreign Direct Investment (FDI), according to the World Investment Report (WIR).
"Bangladesh has done well regarding FDI compared to other South Asian economies such as India and Pakistan," said Prof M Ismail Hossain of Jahangirnagar University at the report-launching ceremony at the Board of Investment (BOI) office here Tuesday.
BOI Executive Chairman Dr SA Samad, Chairman of the Privatization Commission of Bangladesh (PCB) Dr Mirza Abdul Jalil, member (engineering) of Bangladesh Export Processing Zones Authority (BEPZA) Abu Reza Khan, representatives of Bangladesh Bank and officials concerned of different agencies were also present.
FDI inflow dropped in Pakistan and India in 2010 while Bangladesh improved, Prof Hossain said and attributed it to Bangladesh`s cheap labour cost.
Many developed countries are now looking to Bangladesh following increased labour cost in China and Vietnam, it is stated in the ratings report.
According to enterprise survey of Bangladesh Bank, the FDI inflow is on the steady rise from 2001 to 2005. The FDI rose to 1086.3 million US dollars in 2008 but slumped to 700.16 in 2009 and again increased to 913.32 in 2010.
Prof Hossain said Greenfield investment plummeted worldwide due to the global financial recession that dented many giant economies. But, he said, investment increased in manufacturing and telecommunications sectors and marked fall in power, gas and petroleum.
Many developed countries such as the USA and Japan have witnessed FDI outflow after the recession affected them, which helped developing countries attract the funds.
Dr SA Samad said, "Bangladesh`s annual FDI ratio is not enough. It should increase its FDI to five to six billion US dollars per annum from less than one billion and 32 percent investment growth to attain eight percent growth in 2011-12 fiscal.
"Bangladesh has done well regarding FDI compared to other South Asian economies such as India and Pakistan," said Prof M Ismail Hossain of Jahangirnagar University at the report-launching ceremony at the Board of Investment (BOI) office here Tuesday.
BOI Executive Chairman Dr SA Samad, Chairman of the Privatization Commission of Bangladesh (PCB) Dr Mirza Abdul Jalil, member (engineering) of Bangladesh Export Processing Zones Authority (BEPZA) Abu Reza Khan, representatives of Bangladesh Bank and officials concerned of different agencies were also present.
FDI inflow dropped in Pakistan and India in 2010 while Bangladesh improved, Prof Hossain said and attributed it to Bangladesh`s cheap labour cost.
Many developed countries are now looking to Bangladesh following increased labour cost in China and Vietnam, it is stated in the ratings report.
According to enterprise survey of Bangladesh Bank, the FDI inflow is on the steady rise from 2001 to 2005. The FDI rose to 1086.3 million US dollars in 2008 but slumped to 700.16 in 2009 and again increased to 913.32 in 2010.
Prof Hossain said Greenfield investment plummeted worldwide due to the global financial recession that dented many giant economies. But, he said, investment increased in manufacturing and telecommunications sectors and marked fall in power, gas and petroleum.
Many developed countries such as the USA and Japan have witnessed FDI outflow after the recession affected them, which helped developing countries attract the funds.
Dr SA Samad said, "Bangladesh`s annual FDI ratio is not enough. It should increase its FDI to five to six billion US dollars per annum from less than one billion and 32 percent investment growth to attain eight percent growth in 2011-12 fiscal.
learn to read first..... the article doesnot say pak india ranks below BD.....
