Many foreign countries including United States of America, Singapore and United Arab Emirates have shown interest to invest in the capital market in Bangladesh, which will help build a strong market.
Professor Shibli Rubaiyat-ul-Islam, chairman of the regulatory body Bangladesh Securities and Exchange Commission (BSEC), came up with this statement while speaking as a special guest at a pre-budget discussion held on Thursday.
Planning Minister MA Mannan was present as the chief guest at the discussion.
The program jointly organised by Venture Capital and Private Equity Association of Bangladesh (VCPEAB) and the Capital Market Journalists Forum (CMJF).
“Money is a problem in the stock market. Many foreigners are interested in investing in Bangladesh. It is also contacting the US for investment,” Professor Shibli Rubaiyat-ul-Islam said.
Highlighting the interest of foreign investors in investing in the capital market of Bangladesh, he said, "We are constantly being approached by different countries for investment. The list includes Singapore and Dubai. Even from America is contacting for investment. So money will not be a problem.”
"We are far behind than other countries. We couldn't build a strong market even after 50 years of Independence. So, we need to speed up," he said.
We are in this situation because of some wicked people, he further said. Shibli Rubaiyat-ul-Islam said, “The current commission is business-friendly. We are working to make business easier. Meanwhile, a company has been approved by the SME Board to take the country's business forward. Some 4-5 more companies will be approved in the next one month. This board will gradually grow and later different companies will move from here to the main board.
He mentioned the commission has licensed a venture company to take the startup forward.
Two more companies have submitted applications, he said.
"We have to look at good governance to take this sector forward. Because of the whole sector could be threatened by a couple of bad guys.
So from the beginning, the organisation in this sector has to pay attention to good governance.”
Planning Minister MA Mannan said, “Startup companies are doing well. The Ministry of Planning has cooperation in this sector. At the same time, I will discuss various issues of today's discussion with the Finance Minister before the next budget.”
