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FDI increases by 51pc


Published : 17 Nov 2019 09:59 PM | Updated : 03 Sep 2020 07:40 PM

The country has achieved massive progress in attracting Foreign Direct Investment (FDI).  Reportedly, within one year FDI has increased by 51 percent.

A record amount of FDI $ 494.58 lakh came during the 2018-19 Fiscal Year (FY). Compared to the previous year, this is the highest amount of inflow of FDI in a single year. The information was made public in a recent report of Bangladesh Bank (BB).

During the last fiscal, Japan Tobacco bought the tobacco business of Bangladesh’s Akij Group for around $1.47 billion, which is 70 percent of the total FDI in the country.

Businessmen and economist say, during the last decade, the country has seen a stable political situation, which is playing a key factor in attracting FDI. Besides, the government’s agenda of continuous development is fetching FDI in different sectors of the country.

Apart from these, establishing 100 economic zones, progress in doing-business index and other steps are helping to increase the amount of FDI.

To this regard, Policy Research Institute’s executive director Ahsan H Mansur told media that the investment by the Japan Tobacco helped to increase the FDI amount in the country. But he also fears that this year the amount can go down.

He said, to attract large FDI the government’s big initiatives are yet to be implemented. at the same time, corruption and extortion must be eliminated from the country.

During the last five years, the BB report on FDI showed, compared to the previous year, the amount of FDI has increased in the country. During 2014-15 FY, net FDI was $183.38 crore, following next year it stood at $200.35 crore, and at $258 crore in 2017-18 FY.

Relevant people say that to attract more FDI, the government is taking various initiatives. Among the initiatives are establishing Special Economic Zones and reformation of the Investment Development Authority. And investors are getting all services regarding their investment easily.