Bright prospect of investment opportunity in Africa

Bangladeshi business people have great opportunity to invest in abroad especially in African countries, President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Shafiul Islam Mohiuddin said.

Speaking at the roundtable discussion as a chief guest, he said, Africa is ready to accept foreign investment at this moment and Bangladeshi entrepreneurs can go there to set up plants, mills and agricultural firms, Mohiuddin said.

If the businesses take opportunity it will increase their efficiency, competency and market share and it will also ensure food and cotton security for Bangladesh, he added.

International Business Forum of Bangladesh (IBFB) organised the round table discussion titled “Overseas Investment by Bangladeshi Entrepreneurs” at its conference hall in the capital yesterday.

Describing the advantage of overseas investment, he said, “If Bangladesh fails to take advantage of such opportunities, then other countries will definitely grasp the opportunity for which it will limit the scope of increasing GDP growth and poverty alleviation at least to some extent”

Director of IBFB and Legal Economist MS Siddiqui presented a Keynote Paper titled Policy Recommendations for Facilitating ‘Overseas Investment by Bangladeshi Entrepreneurs’. Hafizur Rahman Khan, President of IBFB chaired the seminar.

While describing the keynote paper, Siddiqui said, Global FDI flows are projected to surpass $1.8 trillion in 2018. Many firms from developing countries have gone to the foreign shores in 1960s, 1970s and 1980s but there are some restrictions on overseas investment by Bangladeshi entrepreneurs since its birth, which contradicts with government policy of pursuing free market economy.    

In 2012, 2013 and 2014 outward FDI of Bangladesh was US $43, 34, and 48 million respectively, he informed.

The special guest of the round table Ajit Kumar Paul said that private sector is not mature enough to act independently, therefore government wants to formulate the Overseas Foreign Direct Investment (OFDI) policy with some rules and regulation.

“OFDI is an opportunity of Bangladesh. Hence, we don’t want to see any kind of regulatory failure for OFDI,” he added.

Dr Golam Moazzem, Research Director of Centre for Policy Dialogue (CPD) stated that, “India started OFDI gradually and we can follow their strategies. Initially Indian investors could invest up to $5 million now they can invest up to $2 billion in foreign countries”

The round table discussion was attended by eminent business leaders, academia, civil society members, and dignitaries from different foreign missions and international agencies.

Bright prospect of investment opportunity in Africa

Bangladeshi business people have great opportunity to invest in abroad especially in African countries, President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Shafiul Islam Mohiuddin said. Speaking at the roundtable discussion as a chief guest, he said, Africa is ready to accept foreign investment at this moment and Bangladeshi entrepreneurs can go there to set up plants, mills and agricultural firms, Mohiuddin said. If the businesses take opportunity it will increase their efficiency, competency and market share and it will also ensure food and cotton security for Bangladesh, he added. International Business Forum of Bangladesh (IBFB) organised the round table discussion titled Overseas Investment by Bangladeshi Entrepreneurs at its conference hall in the capital yesterday. Describing the advantage of overseas investment, he said, If Bangladesh fails to take advantage of such opportunities, then other countries will definitely grasp the opportunity for which it will limit the scope of increasing GDP growth and poverty alleviation at least to some extent Director of IBFB and Legal Economist MS Siddiqui presented a Keynote Paper titled Policy Recommendations for Facilitating Overseas Investment by Bangladeshi Entrepreneurs. Hafizur Rahman Khan, President of IBFB chaired the seminar. While describing the keynote paper, Siddiqui said, Global FDI flows are projected to surpass $1.8 trillion in 2018. Many firms from developing countries have gone to the foreign shores in 1960s, 1970s and 1980s but there are some restrictions on overseas investment by Bangladeshi entrepreneurs since its birth, which contradicts with government policy of pursuing free market economy. In 2012, 2013 and 2014 outward FDI of Bangladesh was US $43, 34, and 48 million respectively, he informed. The special guest of the round table Ajit Kumar Paul said that private sector is not mature enough to act independently, therefore government wants to formulate the Overseas Foreign Direct Investment (OFDI) policy with some rules and regulation. OFDI is an opportunity of Bangladesh. Hence, we dont want to see any kind of regulatory failure for OFDI, he added. Dr Golam Moazzem, Research Director of Centre for Policy Dialogue (CPD) stated that, India started OFDI gradually and we can follow their strategies. Initially Indian investors could invest up to $5 million now they can invest up to $2 billion in foreign countries The round table discussion was attended by eminent business leaders, academia, civil society members, and dignitaries from different foreign missions and international agencies.