Investment proposals mark big leap
New data show the number of investment proposals has shot up significantly in November, reflecting increased confidence in the country’s overall business climate, officials said.
The Board of Investment (BoI) said it received 165 investment proposals worth 190 billion taka in the penultimate month of the year, marking a 450 per cent increase over the planned investment amount of the previous month.
Officials said while most of the proposals may not bear fruits, it shows wider investors’ interest in the country’s infrastructure and manufacturing sectors such as power, garments, textile, pharmaceuticals and processed food.
“We can now say that local and foreign investors are more confident to invest here because of the government’s sincere efforts to improve infrastructure and business environment,” said a BoI official.
He said investors are convinced that government’s nine billion dollars investment programme in the power sector would cut crippling shortages. “Their morale got a boost after the government resumed electricity connections to new industrial ventures in October,” he added.
The BoI only keeps the data of registered investment proposals, but it does not track down whether the proposed investment eventually sees the day-light.
Of the proposals, 16 came from foreign and joint-venture investors, according to the BoI statistics. Most of these proposals contain sizeable investment amount and together they are worth 147 billion taka.
During the same month, local entrepreneurs planned to set up 149 industrial units with a total investment of 43 billion taka, which the investors said would create job opportunities for 30,442 people.
In October the BOI registered 154 investment proposals with investment worth 43 billion taka. The units would employ 42,523 people, the BoI said.
Officials said proposed investment from the foreign and joint-venture entrepreneurs in November show a 667 per cent increase from that of October.
Five foreign and 10 joint-venture proposals amounted to Tk 19.15 billion were registered in October.
Officials said foreign and joint-venture investors are mainly interested in the country’s fast-booming power and ICT sectors.