Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, June 21, 2018 12:54:26 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Better climate for foreign investment

By
19th-May-2017       
Comments
Share your thought
Post a comment »
Read all () »

HIGH land prices, unavailability of land at suitable location and ransom taking are some of the major factors driving away prospective foreign investors as well as discouraging others to come and set up industries. This is a common allegation by foreign and local investors as we see hindering expansion of new business and particularly export industry when much of Bangladesh's development potentials remained underutilized to achieve faster growth.

Chinese Ambassador in Dhaka Ma Mingqiang on Wednesday dwelt with the issue, particularly the difficulty in getting undisputed land by foreign investors. Speaking at the monthly meeting of the Foreign Investors' Chamber of Commerce and Industry (FICCI) at a city hotel, he highlighted huge opportunities for investment here but there are difficulties as well, he said calling for improving investment climate and removing other barriers confronting foreign investors.

He pointed out that China is mainly interested in Bangladesh's infrastructure and export-oriented manufacturing sectors but high land price and ransom taking on land by local goons and influential groups are working as major impediment. We must say this is definitely a law and order issue when all such people are operating under the political shelter of the party in power - be it now or in the past. So the government must seriously weigh in the risk of losing foreign investment and business development when such people are exploiting the situation.

In fact major investors from Japan and other countries are facing similar setback and the Chinese envoy is right when he said low labour cost is the main attraction for foreign investors here, but one should not also forget that labour cost in Africa is much lower. China is set to become top investors in the country but in his view much of it depends on creating the investment climate.

There is no doubt, as we see political uncertainty is still overshadowing the horizon as the country is facing new Parliamentary Election in early 2019 without much change to earlier cause of political crisis. There is also infrastructure setback -- roads and highways must be improved, expansion of modern ports to be quick and supply of adequate gas and electricity must at hands to allow new mills and factories to go into production. The Chinese envoy has rightly echoed the sentiment of others when he said any delay in creating the right environment might force many investors to shift to other markets.

Bangladesh is setting up many economic zones for investors from home and abroad where they are expected to get land at reasonable cost. Moreover, many state-owned industries have vast unexploited land in their premises, which they can surrender to create new industrial estates. The government knows about it and yet vested interest groups within the government are blocking such move. We must say time is running out and the government must act quickly to remove bottleneck to local and foreign investments.


Tariff
Add Rate

News Archive

Inside The New Nation

Entertainment »

Race 3 inches towards Rs 200 cr mark


Salman Khan's film Race 3 is unstoppable. The film, which hit screens on June 15, is giving all sorts of reasons for the star cast to celebrate. The Remo D'Souza directorial had already crossed the benchmark of Rs 100 crore at the Indian box office. But interestingly, the Salman fever ...

Editorial »

Unfortunately government has no political leadership to restore peace in Chattogram Hill Tracts


THREE more activists of Parbatya Chattogram Janasanghati Samity (MN Larma) and United People's Democratic Front (Democratic) were shot dead at their homes in Rangamati and Khagrachhari districts between Friday and Sunday. Conflicts between different groups in Chattogram Hill Tracts have led to the death of at least 22 people in ...

Business & Economy »

Shibbir Mahmud, Chairman, Board of Directors of Islamic Finance and Investment Limited, presiding over its 236th meeting at its head office in the city recently. AZM Saleh, Managing Director, Rezakul Haider, Anis Salahuddin Ahmad, Vice-Chairmen, Anwar Hossain Chowdhury, EC Chairman, Md. Jahidur Rahman, Audit Committee Chairman, SM Bakhtiar Alam, Hossain Mahmud, Liaquat Hossain Moghul and KBM Moin Uddin Chisty, Directors of the company were also present.


International »

China-N Korea joint efforts to bring peace, stability in Korean peninsula, hopes Xi


Reuters, Beijing : Chinese President Xi Jinping told visiting North Korean leader Kim Jong Un on Wednesday that with the joint efforts of the two countries, the Korean peninsula will definitely be peaceful and stable, official news agency Xinhua said.Xi made the comments during a meeting at Beijing's Diaoyutai state guest ...

Football »

Putin missed Russia-Egypt match but 'happy' at win


AFP, Moscow :The Kremlin on Wednesday said Vladimir Putin did not watch Russia's surprise win over Egypt in the World Cup because he was on a plane but added that he reacted "very positively, like the whole of our country".  "Unfortunately, he did not watch the match itself. It so ...

City »

BNP Standing Committee Member Barrister Moudud Ahmed speaking at a prèss conference at the party central office in the city's Nayapalton on Wednesday in protest against his confinement by police in Noakhali.


Editorial »

Death of another prosecution witness : Too difficult to accept as an accident


NO sooner had the Eid vacation come to an end but another murder shocked us all. The decapitated body of Sumon Zahid, a witness in a war crimes case and also the son of martyred journalist Selina Parvin was found dead in the capital's Khilgaon the day before yesterday. There ...

Business & Economy »

A delegation headed by Farzana Chowdhury, CEO of Green Delta Insurance makes a courtesy call with Dr. M Khairul Hossain, the newly appointed Chairman of Security Exchange Commission recently. Additional Managing Director and Company Secretary Syed Moinuddin Ahmed and Deputy Managing Director Wafi S M Khan of the company were also present.


Football »

England beat Tunisia 2-1


AFP, Volgograd :Captain Harry Kane came to the rescue with two goals, the second a dramatic injury-time winner, as England began their World Cup Group G campaign with a stuttering 2-1 win over Tunisia on Monday.  Gareth Southgate's men almost paid a heavy price for missing a slew of first-half ...

Football »

Harry Kane : England's new prince


AFP, Volgograd :Harry Kane rose emphatically to the World Cup challenge in England's opening match against Tunisia, scoring a last-gasp winner to give Gareth Southgate's side lift-off in Russia.It was a remarkable World Cup debut for Kane, who bore the added pressure of the captain's armband and the weight of ...

Entertainment »

I`m indebted to J.P. Dutta for life : Pooja Bhatt


Actress-filmmaker Pooja Bhatt said she is indebted to veteran director J.P. Dutta for not only making her a part of 'Border' but also for encouraging her to never change. 'Border' on Wednesday completed 21 years of its release and Pooja took to Twitter to thank Dutta for casting her in ...

International »

US won`t be made a migrant camp


President Donald Trump vowed on Monday that the United States would not become a "migrant camp" as he faced mounting pressure to stop families being separated as a deterrent to illegal immigration."The United States will not be a migrant camp, and it will not be a refugee holding facility," Trump ...

City »

Pedestrians passing through a muddy road as the authority concerned does not repair the road for long time. The snap was taken from Bibir Bagicha area in the city's Jatrabari on Tuesday.


Editorial »

Save the flood victims and take adequate measures for post-flood rehabilitation


INCESSANT rainfall in the last few days has triggered floods in the country's East and South East districts. Thousands of people of Moulvibazar, Habiganj, Feni and Chattogram districts have been marooned as floodwater crawled to inundate their homestead and damage crops and livestock. The New Nation recently reported that Khowai, ...

Football »

A Mexico soccer fan celebrates her team victory against Germany after their group F match at the 2018 soccer World Cup in the Luzhniki Stadium in Moscow, Russia on Sunday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news