New investment strategy adapted to Bangladesh’s business rebound on the anvil
FE REPORT |
Oct. 26, 2021, 8:47 a.m.
A new investment strategy adapted to the business rebound is in preparation for Bangladesh for a net capital now afloat in the “new normal” post-Covid.
This was revealed Monday during a meeting in Dhaka as part of an initiative assisted by the Japanese cooperation agency JICA.
Bangladesh Investment Development Authority Executive Chairman Md. Sirazul Islam told the function that BIDA needs to develop a new post-Covid investment strategy to seize more investment opportunities that are expected to arise in a new normal business climate.
The head of the country’s public investment promotion agency said the pandemic has severely affected the global investment scenario, but things have started to change based on the improvement in the coronavirus situation across the country. world.
“So we need to develop a new investment promotion strategy with changing circumstances and implement it to grab more investment opportunities here,” he said speaking as a guest. principal of the seminar.
BIDA, together with the Japan International Cooperation Agency (JICA), organized the seminar titled “Post-Covid Investment Promotion Strategy” at its headquarters in Aggargaon.
Sharing various services provided by BIDA, Islam said they have provided services even during lockdown days to facilitate potential investors through its one-stop service.
“More services are included in our digital platform to serve investors,” he said.
The Executive Chairman of BIDA said the World Bank had suspended publication of its key report ‘Ease of Doing Business’ index, but decided to continue to introduce reforms in various sectors to ensure a favorable business climate. here.
Sharing the downward trend in the global investment scenario, Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun said foreign direct investment (FDI) fell by 42% in the country. world in 2020.
But the flow of FDI will surely increase in the post-covid regime at a faster rate, he said.
“We must therefore be prepared to identify key sectors to attract potential global investors.”
JICA Chief Representative in Bangladesh Yoho Hayakawa suggested that the country’s policymakers take swift action to overcome existing obstacles related to investments.
BIDA (International Investment Promotion) executive member Mohsina Yasmin moderated the event where her director Md. Muzib-Ul-Ferdous and CEO Shah Mohammad Mahboob also spoke.