BD 15th best place for investment

BD 15th best place for investment


FE Report

Bangladesh has placed 15th in the international ranking of potential countries for investors and businessmen in 2010 while the country was in the 28th place in 2009, according to a Japanese survey report.

China has got the first position followed by India, Vietnam and Thailand which kept their positions intact. Bangladesh and Myanmar have obtained positions in the top 20 list for the first time.

The international research office of Japan Bank for International Cooperation (JBIC) conducted the 22nd annual survey titled 'Outlook for Japanese Direct Investment'.

The report was unveiled when JBIC Residential Executive Officer for Asia and the Pacific Ryuichi Kaga called on Industries Minister Dilip Barua at the latter's official residence Thursday.

Ryuichi Kaga said Japanese entrepreneurs are interested to shift their export-oriented industries to Bangladesh and said that they are interested to invest in high tech textile, IT, railway and road communication infrastructure sectors of Bangladesh.

He appreciated the new industrial policy saying that Bangladesh will achieve rapid investment growth because there is scope in it for direct, joint venture and public private partnership investment to set up industries.

Mr Kaga said Japanese entrepreneurs are focusing on setting up a special industrial zone for them in Bangladesh.

He said Bangladesh has turned into a lucrative place for foreign investment as there is possibility of an internal market of readymade garments, machinery assembling and consumer goods as well as opportunities of cheap labour and lowest risk in the country.

The Industries Minister said the government of Bangladesh is offering different kinds of facilities like tax holiday, 100 per cent profit sending back to own countries, easier visa process, work permits and cash incentives.

He said that the government is expecting investment from Asia as well as Europe in potential sectors of Bangladesh.

He expressed hope that Bangladesh will become a hub of foreign investment soon due to the new industrial policy and business-friendly activities.

Mr Barua urged the Japanese entrepreneurs to invest in different sectors including fertiliser, roads and railway communication network and environment-friendly ship building in the country.