Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Wednesday, May 24, 2017 02:04:00 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Better climate for foreign investment

By
19th-May-2017       Readers ( 113 )   0 Comments
Comments
Share your thought
Post a comment »
Read all (0) »

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.


0 Comments. Share your thoughts also.
Write a comment
Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Chaos at Islami Bank is not to the nation`s interest


THE unrest in the Islami Bank -- the largest and most profitable bank in the country just over five months of its change over to a new management and ownerships liquidating the control of Jamaat people on the bank just shows the ominous sign of greater destabilization within the bank. ...

Cricket »

Mumbai Indians captain Rohit Sharma (center) Parthiv Patel (left) and bowling coach Shane Bond pose for a picture with the Indian Premier League (IPL) trophies from last three wins after a press conference after their IPL 2017 win in Mumbai, India on Monday.


City »

Jatiya Press Club General Secretary Farida Yasmin was accorded a grand reception for achieving US Special Congressional Award at the Jatiya Press Club Auditorium yesterday. Chief Guest of the function Information Minister Hasanul Haq Inu along with BFUJ Secretary General Omar Faruk and other special guests seen handing over the citation crest.


Entertainment »

Half Girlfriend is Shraddha`s fourth best opening


Shraddha Kapoor and Arjun Kapoor starrer Half Girlfriend has raked in a whopping 10 crores of moolah at the box office on its day one. This is Shraddha’s fourth best opening after Ek Villain, ABCD 2 and Baaghi, also withstanding the fact that all these films opened to a two ...

International »

Trump plays up ME peace hopes after talks with Abbas


Reuters, Bethlehem : US President Donald Trump talked up the prospects of peace between Israelis and Palestinians on Tuesday, saying he believed both sides were committed to an historic deal, but he offered no concrete proposals on how to get there.After an hour of talks with Palestinian President Mahmoud Abbas ...

International »

Outgoing WHO Chief says world 'better prepared' for health crises


AFP, Geneva  :The World Health Organization's outgoing chief Margaret Chan defended her legacy Monday, insisting the world had become better prepared to face health emergencies like Ebola on her watch.In her final address to WHO's member states, Chan acknowledged that mistakes had been made during her decade at the helm, ...

Editorial »

Police can`t commit excesses like politicians


MEMBERS of law enforcement agencies or police for that matter surely have the professional right to conduct search operations based on accurate tip-offs but that doesn't mean it can wreak havoc and cause chaos in the name of such professional duty. The police search operations at main opposition party BNP ...

Football »

Dhaka Abahani emerge group champions beating Muktijoddha SKC 1-0


Defending champion Dhaka Abahani Limited emerged Group A champions to reach the quarterfinal of the Federation Cup Football Tournament beating Muktijoddha Sangsad KC by 1-0 goal in the last Group A match at the Bangabandhu National Stadium here on Monday.Rubel Mia scored the match-winner for popular sky-blue Dhanmondi outfit in ...

Entertainment »

Rhea Chakraborty snips her long tresses for Half Girlfriend


The actress plays a spirited Indo-American in the Arjun Kapoor-Shraddha Kapoor starrer Half Girlfriend, and to fit her character, she had to chop her long locks - an act she hasn't done for many years. “I’ve always had long hair and it’s something I’m proud of. Apart from trimming ends, ...

Entertainment »

Tendulkar family to grace TV screens together for the first time


Master Blaster Sachin Tendulkar will be seen promoting his biographical drama, Sachin: A Billion Dreams, on a Marathi chat show. Midst the much anticipation of the film Sachin: A billion dreams that marks the most iconic moments of the cricketing legend, the God of cricket will indulge in a light ...

City »

Deputy Prince of Saudi Arabia Soud Bin Khaled Al Faisal welcomed Prime Minister Sheikh Hasina upon her arrival at Prince Mohammad Bin Abdul Aziz Airport, Medina in Saudi Arabia on Monday.


International »

Iran reformists sweep Tehran municipal council election


AP, Tehran :Candidates backing reform of Iran's clerically overseen government swept municipal elections in Tehran, taking all 21 local council seats in the country's capital while moderate President Hassan Rouhani won a second term in office, authorities said on Monday.Their win in Friday's election marks the first time reformists have ...

Editorial »

Jewellery business in Bangladesh cannot be run legally


THE jewellery business in Bangladesh has reportedly been thriving despite there being no import of gold into the country through legal channels. First of all the prevailing predicament is not a new phenomenon and is being continuing for the last three decades. How has it been made possible? Are we ...

Sports »

A view of the match of the Saif Power Tec Dhaka Metropolis Senior Division Football League between Friends Social Welfare Organization and Dhaka United Sporting Club at the Bir Shreshtha Shaheed Sepoy Mohammad Mostafa Kamal Stadium in Kamalapur on Sunday. Friends Social Welfare Organization beat Dhaka United Sporting Club by two goals to nil.


Cricket »

Jaydev Unadkat celebrates a sensational return catch to dismiss Lendl Simmons during the IPL final match between Mumbai Indians and Rising Pune Supergiant at Hyderabad 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