Government to guide investment decisions fast

investmentThe government will prepare a guide based on the priority for investment decisions promptly to encourage domestic and foreign investors, officials said.

The measure was taken at a recent meeting with the principal secretary of the Prime Minister’s Office (PMO) in the chair, also they said.

The proposed guideline will be prepared by the Board of Investment (BOI) Economic Zones Authority of Bangladesh (BEZA), Authority for Public-Private Partnerships (AAPP) and Bangladesh authority of High-Tech Park (BHTPA).

It will be prepared for decision-making on issues related to investment quickly for more local and foreign investment in various sectors of the country, a senior official who attended the meeting said.

Domestic and foreign investments in economic zones and high-tech park and thanks to the initiative of the PPP only to have priority in the guide, also said.

“We do delay in decision-making in different investment proposals. As a result, the country has been receiving investments from domestic and foreign sources. The guide will be ready to make quick decisions,” he added.

When contacted, BEZA CEO Paban Chowdhury said: “We will present a proposal to the PMO within this week.”

Many government agencies are currently working for the promotion of investment in the country. The guide was created to give importance to the issues related to investment and make decisions on these issues quickly.

A committee, headed a member of Boi, has been established in this regard, he said.

Managing Director BHTPA Hosne Ara Begum told FE: “We are taking a number of initiatives to attract investments for the high-tech park will prepare a road map or guide and organize road-shows, workshops and seminars for it.”.

Bank data shows that Bangladesh FDI inflows stood at $ 795 million in the period from July to December 2015 and $ 1.096 billion in the period from January to June.

Thus, net FDI inflows stood at $ 1.89 billion in 2015, which was $ 1.53 billion in 2014.

After a decline of 4.2 percent in 2014, FDI inflows returned to a positive trend in 2015, registering a 23.5 percent growth.