Govt ramps up efforts to attract FDI
Staff Reporter :
In a bid to boost Bangladesh’s economy, the Interim Government led by Muhammad Yunus is prioritising foreign direct investment (FDI) following the July-August unrest.
On Wednesday, the Ministry of Foreign Affairs instructed all Bangladeshi missions abroad to develop strategies aimed at attracting FDI from their respective host countries.
The directive was issued during a virtual session titled “Investment Talks with Bangladesh Missions,” jointly organised by the Ministry of Foreign Affairs and the Bangladesh Investment Development Authority (BIDA).
This initiative seeks to diversify Bangladesh’s global trade while focusing on investment strategies to tackle key challenges related to market expansion and economic sustainability.
The session, chaired by Foreign Secretary Md. Jashim Uddin, featured the participation of high-level officials, including Commerce Adviser Sk. Bashir Uddin, BIDA and BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, and Acting Secretary of the Ministry of Commerce Md. Abdur Rahim Khan.
Ambassadors and Heads of Missions from Saudi Arabia, the UAE, the Netherlands, the UK, and Germany shared their insights on efforts to strengthen trade and investment ties.
Participants stressed the importance of creating actionable roadmaps to attract FDI, leveraging technology, and improving connectivity. Discussions also underscored sustainable economic strategies, highlighting Bangladesh’s potential as a competitive investment destination.
The government’s renewed focus on FDI is seen as a crucial step towards strengthening the economy amid ongoing reforms.
FDI inflows to Bangladesh had declined during the tenure of the previous Awami League government, as investors faced challenges in securing a favourable investment environment. In the July-September quarter of the 2024-25 fiscal year, FDI inflows dropped to $104.33 million, the lowest level in at least six years.
This sharp decline, representing a 71 per cent decrease compared to the same period last year, was attributed to ongoing political instability, labour unrest, and economic volatility. Furthermore, the depreciation of the taka against the US dollar has made it increasingly difficult for investors to repatriate profits.
According to data released by Bangladesh Bank, FDI inflows fell dramatically from $360.5 million recorded in