FDI inflow reaches $900 million: BIDA
Staff Reporter :
Bangladesh received $900 million as foreign investment so far in the current calendar year.
Mohsina Yasmin, the Executive Chairman (acting) Bangladesh Investment Development Authority (BIDA), revealed the data yesterday at a press conference at a city hotel.
The press conference was organized by the Foreign Investors Chambers of Commerce and Industry (FICCI) on the occasion of the two-dayInvestment Expo 2023, which will be held on November 8-9 to celebrate its 60-year journey.
The Acting Executive Chairman said, because of the Ukraine-Russia war, financial turmoil at global level and unstable dollar prices, the FDI inflow in the country is lower than the previous years.
This happened at a time when Bangladesh needed adequate foreign exchanges to stabilize its forex market volatility and help stabilize the balance of payment deficits.
Mohsina Yasmin also said that the BIDA has been working for a long time to promote FDI and improve the investment climate in the country.
BIDA launched one-stop service to increase investment and solve investment-related problems of businessmen.
Now 90 types of services are provided here. As a result, traders are freed from both harassment and cost, she added.
FICCI President Naser Ezaz Bijoy said, “The investment expo will be held at Radisson Blu Water Garden to commemorate the six-decade anniversary of the chamber.”
Prime Minister Sheikh Hasina has given her schedule to inaugurate the event as the chief guest, he said.
Bangladesh Investment Development Authority (BIDA) is the strategic partner of the investment expo.
Meanwhile, Foreign direct investment (FDI) contracted by over 7.0 per cent to US$3.2 billion in FY2023, according to central bank data as the local forex market volatility shows no sign of subsiding anytime soon.
The highest FDI inflows in FY23 originated from the UK, totaling US$622 million in gross inflow, closely followed by the Republic of Korea at $603 million.
Experts said, the tight-fisted import policy by the government and political unrest in recent months are giving a signal that business climate will not be sustainable for the investors.
