BIDA gets 11.89pc higher investment bids in FY 18

FE Report | Published: August 02, 2018 10:09:48 | Updated: August 05, 2018 15:41:08

Picture used for illustrative purpose only — Collected

The amount involving the investment proposals with Bangladesh Investment Development Authority (BIDA) has increased by around 11.89 per cent during the last fiscal year (FY), 2017-18, according to its latest figures.

BIDA received investment proposals amounting to Tk 2.072 trillion from July 2017 to June 2018, which was Tk 220.3 billion higher than those of the previous FY.

A total of 1,643 industrial entities have registered themselves with BIDA during the period, creating employment opportunities for 287,546 people, said a press release.

Meanwhile, the amount involving the quarterly investment proposals with BIDA decreased by 20.17 per cent during the last three months of FY 2017-18, as per official figures.

During the April-June period of FY 2017-18, BIDA received investment proposals amounting to Tk 243.641 million, which was Tk 61.57 million lower than the previous quarter of the same fiscal.

The decline in quarterly investment proposals can mainly be attributed to the fall in local investment.

The BIDA figures showed that local investment proposals dropped from Tk 264.79 million during the third quarter of FY 18 to Tk 215.86 million during the fourth quarter.

On the other hand, foreign and joint venture investment proposals, however, saw a quarterly increase of 74.96 per cent when compared to the same period of last year, as per the BIDA figures.

A total of 22 wholly foreign-owned and 30 joint venture entities have registered with BIDA during the April-June period of FY 18. The total amount of investment proposals made by these entities was worth around Tk 27.77 million.

The biggest portion of investment proposals came from other industries during the last quarter of the previous fiscal, forming 24.63 per cent of the total investment.

Other major sources of investment in the period were service industries (22.14 per cent), textile (20 per cent), chemicals (17.67 per cent), and engineering (15.04 per cent).



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