The Financial Express

New investment strategy suiting Bangladesh's business bounceback on anvil

| Updated: November 07, 2021 16:58:30

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A new investment strategy suiting business bounceback is in the making for Bangladesh for netting capital now afloat in post-Covid 'new normal'.

This was disclosed Monday at a meet in Dhaka under a move assisted by Japanese cooperation agency JICA.

Bangladesh Investment Development Authority executive chairman Md. Sirazul Islam told the function that BIDA needs to make new post-Covid investment strategy to grab more investment opportunities that are set to come in new-normal business climate.

The chief of the country's state-run investment-promotion agency said the pandemic badly affected the global investment scenario but things started changing in line with the improvement in the coronavirus situation across the globe.

"So, we need to make new investment-promoting strategy with the changing circumstances and implement it to catch more investment opportunities here," he said while speaking as a chief guest at the seminar.

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

Sharing various BIDA-delivered services, Mr Islam said they had delivered services even in the lockdown days to facilitate potential investors through its One-Stop Service.

"More services are included in our digital platform to serve the investors," he said.

The BIDA executive chairman said the World Bank suspended publication of its key report 'Ease of Doing Business' index but they decided to continue bringing reforms in various sectors to ensure business-friendly climate here.

Sharing downward trend in the global investment scenario, executive chairman of Bangladesh Economic Zones Authority (BEZA) Shaikh Yusuf Harun said foreign direct investment (FDI) fell by 42 per cent globally in 2020.

But the flow of FDI will surely be increasing in the post-covid regime at a faster pace, he said.

"So, we need to be ready identifying the key sectors for attracting potential global investors."

JICA's chief representative in Bangladesh Yoho Hayakawa suggested that the country's policymakers take quick steps to overcome existing investment-related hurdles.

BIDA executive member (International Investment Promotion) Mohsina Yasmin moderated the event where its director Md. Muzib-Ul-Ferdous and director-general Shah Mohammad Mahboob also spoke.

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