BoI plans to arrange road show to attract FDI

http://www.bssnews.net/newsDetails.php?cat=2&id=202737&date=2011-09-27

BoI plans to arrange road show to attract FDI

DHAKA, Sept 27(BSS)-The Board of Investment (BoI) has planned to arrange three international road shows this year to attract foreign direct investment (FDI) in Bangladesh.

Sources said as part of the plan the BoI would portray government’s latest achievements in the power sector and digitizing different ministries, offices and departments.

“The BoI has planned to arrange three investment meets in Hong Kong, Germany and India targeting investors to the sectors where Bangladesh is the most potential place,” Nabhash Chandra Mandal, Executive Member, Board of Investment told BSS Tuesday.

He said country’s power supply situation has improved significantly due to government’s pragmatic steps. Transparency and accountability in business sufficiently enhanced because of digital Bangladesh projects.

“We want to inform the investors about the latest improvement in power supply and digital Bangladesh, Mandal said.

He said the first show will be held in Hong Kong within the next month where BoI will invite businessmen to invest in country’s light engineering, ICT, ceramic and high- tech fashion design sectors.

Investors in India and Germany are placing many queries for investment, we want to talk with them together, he said.

Nabhash Chandra Mandal said the date and fixture for Germany road show has not been fixed as yet. “We are targeting German investors to come to Bangladesh for establishing ship building, machine tools and renewable energy industries and in these fields they are world class manufacturers.”

About the road show to be held in India Mandal said the BoI has sent all necessary papers and documents to Bangladesh High Commission in India to arrange the road show.

The BoI recently launched an online registration service system simplifying investment registration procedures for local and foreign investors.

The online registration system is one of the several initiatives taken by the BoI to simplify and automate services, and it is part of a broader digital Bangladesh program launched by the government.

According to Bangladesh Bank statistics the country received foreign direct investment worth US $ 913.3 million in 2010.

Bangladesh received $1.01 billion in 2008,when global recession cut worldwide FDI movement by 40 percent, the statistics said.

Bangladesh is the 27th most favorite destination among the developing countries for foreign direct investment (FDI).

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