Business visits underlined for attracting foreign investment

In the context of the poor foreign investment scenario in the country after the Holey Artisan Bakery terrorist attack in 2016, more business visits to different countries are needed for bringing back the confidence of foreign investors to invest in Bangladesh. 

Speakers came up with this remark while they were addressing at a post event briefing on the achievements of Bangladeshi high profile business delegation's visit to Singapore on August 3-4. Bangladesh Investment Development Authority (BIDA) organized the briefing at Balcony Hall of Hotel Pan Pacific Sonargaon yesterday.

Speakers urged that the Bangladesh-Japan B2B conference held in Singapore was the first initiative to regain the investments from Japan and Singapore. It should be continued. If Japanese do not return, other countries will come to the country. Executive chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam was present there as chief guest while chief coordinator for SDG affairs at the Prime Minister's Office Abul Kalam Azad was present as special guest. 

Among others, secretary of the commerce ministry Subhashish Bose, president of Dhaka Chamber of Commerce and Industry (DCCI) Abul Kasem Khan, former president of Metropolitan Chamber of Commerce and Industry (MCCI) Syed Nasim Manjur and president of Chittagong Chamber of Commerce and Industry Mahbubul Alam also shared their experience in Bangladesh-Japan B2B conference in Singapore at the program.

Kazi M Aminul Islam said Bangladesh noticed much advancement in different sectors in the last couple of years. Now Bangladeshi investors have earned the capacity to investment in other countries unlike previously when we used to ask them what they did have to offer Bangladesh.  

BIDA chairman also said Singapore ranked first or second at World Bank's ease of doing business index whereas Bangladesh was placed at 176 among 190 countries. We want to be placed at two digit ranked within five years.

Speaking about the aim of the conference chief coordinator for SDG affairs at the Prime Minister's Office Abul Kalam Azad said the purpose of the B2B was not to bring direct offer of investment rather it was organized to create an environment for investment. The government is working to create a business-friendly climate for bringing more foreign investors to the country. 

Japanese investors invested about $20 billion in the ASEAN countries where our aim is to bringing $2 billion investment in the coming days, said DCCI president Abul Kasem Khan.

Referring to the conference as an effective initiative former president of MCCI Syed Nasim Manjur said Bangladesh received lowest investment in SAARC countries. He has also said they have informed foreign investors that Bangladesh has not only cheap labor but also a big market to invest in. 

Bangladesh is now standing at 13th position in the list of top 20 Asian countries where the Japanese companies can invest, he says, adding, 'We have also talked to those companies who are investing in other countries for changing their focus."