Major Shaheb
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http://http://bdnews24.com/details.php?id=236107&cid=4
Dhaka, Nov 11 (bdnews24.com)Statistics show Bangladesh is attracting increasing foreign direct investment (FDI) much more than any previous time, even though the Finance Minister recently expressed his disappointment at foreign funds.
According to the last information available, Bangladesh lured in over $317 million in FDI (net) only in the first two months of the current 2012-13 fiscal (July-August) which is 36 percent higher than the FDI received at the same time last year.
It had received over $233 million between July and August in the last fiscal.
According to a Bangladesh Bank statement, the total FDI in the 2011-12 fiscal was $995 million the highest ever foreign direct investment in one fiscal year.
Finance Minister Abul Maal Abdul Muhith on Thursday had expressed disappointment at the investment situation. "Our investment has not increased, there is no FDI. Why? Our resources are little, there are so many obstacles, little bribes "
He also expressed despair at the FDI on Saturday at a seminar organised by the Dhaka Chamber of Commerce and Industry in the capital.
Bangladesh Institute of Development Studies (BIDS) Research Director Zaid Bakht, however, thinks the current FDI rate is good, even though he admitted the amount was less than what was needed.
Bakht on Sunday told bdnews24.com that $1 billion FDI is really small if compared to Vietnam and India.
"But we have no reason to discount this investment when we are in the middle of various problems including political unrest, gas-power shortages, and battered roads."
Currently, energy and telecom sectors are wooing most of the FDI. The cement sector is also getting some investments.
Bakht emphasised ensuring political stability to increase foreign investments. "Investment -friendly environment must be ensured first to increase investment. The government's policies and assistance will have to be in favour of investment."
The Finance Minister on Nov 8 had blamed Nobel laureate Muhammad Yunus' 'propaganda campaign' against Bangladesh in the international arena for not receiving expected foreign investments.
Asked whether that issue was actually influencing the FDI, Bakht declined comment.
Yunus has already refuted the minister's remarks. On the other hand, Muhith on Saturday also released a statement clarifying his remarks.
In the statement, he said that official assistance of different donor countries and agencies have increased massively in the last three years, but they were not keen to invest directly in Bangladesh.
Dhaka, Nov 11 (bdnews24.com)Statistics show Bangladesh is attracting increasing foreign direct investment (FDI) much more than any previous time, even though the Finance Minister recently expressed his disappointment at foreign funds.
According to the last information available, Bangladesh lured in over $317 million in FDI (net) only in the first two months of the current 2012-13 fiscal (July-August) which is 36 percent higher than the FDI received at the same time last year.
It had received over $233 million between July and August in the last fiscal.
According to a Bangladesh Bank statement, the total FDI in the 2011-12 fiscal was $995 million the highest ever foreign direct investment in one fiscal year.
Finance Minister Abul Maal Abdul Muhith on Thursday had expressed disappointment at the investment situation. "Our investment has not increased, there is no FDI. Why? Our resources are little, there are so many obstacles, little bribes "
He also expressed despair at the FDI on Saturday at a seminar organised by the Dhaka Chamber of Commerce and Industry in the capital.
Bangladesh Institute of Development Studies (BIDS) Research Director Zaid Bakht, however, thinks the current FDI rate is good, even though he admitted the amount was less than what was needed.
Bakht on Sunday told bdnews24.com that $1 billion FDI is really small if compared to Vietnam and India.
"But we have no reason to discount this investment when we are in the middle of various problems including political unrest, gas-power shortages, and battered roads."
Currently, energy and telecom sectors are wooing most of the FDI. The cement sector is also getting some investments.
Bakht emphasised ensuring political stability to increase foreign investments. "Investment -friendly environment must be ensured first to increase investment. The government's policies and assistance will have to be in favour of investment."
The Finance Minister on Nov 8 had blamed Nobel laureate Muhammad Yunus' 'propaganda campaign' against Bangladesh in the international arena for not receiving expected foreign investments.
Asked whether that issue was actually influencing the FDI, Bakht declined comment.
Yunus has already refuted the minister's remarks. On the other hand, Muhith on Saturday also released a statement clarifying his remarks.
In the statement, he said that official assistance of different donor countries and agencies have increased massively in the last three years, but they were not keen to invest directly in Bangladesh.
