Bangladesh business

A new investment strategy suited to Bangladesh’s trade rebound on the anvil

| Update:
07 November 2021 16:58:30

A new investment strategy tailored to the business rebound is in the works for Bangladesh to release capital now afloat in the post-Covid ‘new normal’.

This was revealed Monday at a meeting in Dhaka as part of an initiative assisted by the Japanese cooperation agency JICA.

The executive chairman of the Bangladesh Investment Development Authority, Md. Sirazul Islam, told the function that BIDA should come up with a new post-Covid investment strategy to capture more investment opportunities that are expected to arise. present in the new normal business climate.

The head of the country’s national investment promotion agency said the pandemic has severely affected the global investment scenario but things have started to change based on the improving coronavirus situation across the country. world.

“So we need to develop a new investment promotion strategy with the changing circumstances and implement it to seize more investment opportunities here,” he said while speaking as a guest. principal of the seminar.

BIDA, in collaboration with the Japan International Cooperation Agency (JICA), organized the seminar titled “Post-Covid Investment Promotion Strategy” at its headquarters in Agargaon.

Sharing various services provided by BIDA, Mr. Islam said that they have been providing 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 that the World Bank had suspended the publication of its key report on the “Ease of Doing Business” index, but that it had decided to continue making reforms in various sectors to ensure a business-friendly climate here.

Sharing the downward trend in the global investment scenario, Executive Chairman of the Bangladesh Economic Zones Authority (BEZA), Shaikh Yusuf Harun, said that foreign direct investment (FDI) fell by 42% in the world in 2020.

But the flow of FDI will surely increase in the post-covid regime at a faster pace, 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 policy makers take swift action to overcome the existing obstacles related to investments.

BIDA (International Investment Promotion) Executive Member Mohsina Yasmin moderated the event where its Director Md. Muzib-Ul-Ferdous and Managing Director Shah Mohammad Mahboob also spoke.

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