Unified centrally monitored FDI strategy stressed at AmCham roundtable
The annual FDI inflow is mostly the retained profits of already operating foreign companies, while Bangladesh has opportunities to grab by attracting investors, by improving the investment climate in the country, said the speakers at the roundtable
US businesses, along with a number of local entrepreneurs and executives, have called for a unified and centrally monitored foreign direct investment (FDI) strategy to create an effective FDI ecosystem and boost sustainable economic growth in the country.
They were speaking at a roundtable discussion organised by the American Chamber of Commerce in Bangladesh (AmCham) and supported by Excelerate Energy Bangladesh at a city hotel on Monday (2 December).
Alongside embracing the unified and centrally monitored FDI strategy, strengthening private-public partnerships, improving infrastructure, ensuring uninterrupted energy supply, reducing delay in profit repatriation, building frictionless and ubiquitous payment ecosystem, transforming the experience of regulatory interaction came under discussion as critical means to attract and sustain FDI into the country.
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Bangladesh has long been significantly lagging behind its peers in receiving FDI, despite several waves of global companies' relocation in the past two decades.
The annual FDI inflow is mostly the retained profits of already operating foreign companies, while Bangladesh has opportunities to grab by attracting investors, by improving the investment climate in the country, said the speakers at the roundtable.
On uninterrupted energy supply, Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan, who attended the roundtable as chief guest, emphasised fair pricing to come out of huge state subsidies.
Attending as a special guest, Chief Adviser's Special Envoy on International Affairs Lutfey Siddiqi shared the interim government's priorities to serve investors from the single window of the Bangladesh Investment Development Authority.
Both assured that the business community will soon experience the enhanced one-stop services that would resolve the current grievances.
AmCham Vice President and Chevron President Eric Walker in his welcome notes emphasised the need for continuity of policies, strong transparent institutions, simplified regulations, skilled workforce development, and ongoing financial sector reform to create an environment supporting investment, innovation, and sustainability.
Excelerate Energy Vice President of Government Relations and Public Affairs Derek Wong, Strategic Adviser Peter D Haas and Country Manager Habib Bhuiyan also attended the roundtable moderated by AmCham Bangladesh executive committee member Rashed Mujib Noman.
