Even as days of Bangladesh’s graduation from a least developed country (LDC) to a developing nation is nearing, which as per experts would have implications on its exports (including readymade garments) — although Bangladesh will lose duty-free market access and other trade facilities enjoyed as an LDC, it would bring few benefits on the flipside like enabling Bangladesh to attract more foreign direct investment (FDI) as has, reportedly, been observed in the case of previously graduated countries — the Government is readying a plan to address the challenges Bangladesh could face after making the transition in 2024.
We are trying to create an enabling environment for investment, and for that, skill development is very important, reportedly, maintained the Prime Minister’s adviser on private industry and investment, Salman F. Rahman, while taking part in a Foreign Investors’ Chamber of Commerce and Industry (FICCI)-organised virtual round table recently.
Titled ‘FDI in a post-Covid world: New realities and reform priorities for Bangladesh’, businessmen from various overseas companies operating in Bangladesh, reportedly, took part in the event.
Participating in the discussion, an executive member of the Bangladesh Investment Development Authority (BIDA), Avijit Chowdhury, reportedly, maintained that his office has been collecting information on the different challenges faced by foreign companies in the country (Bangladesh) so that the same can be addressed by the Government accordingly.
