Security & Safety issue in Bangladesh deterrent to FDI, says EU envoy

Bangladesh may have emerged as one of the preferred destinations for foreign investments, but the existing safety and security situation in the country in the recent times has raised questions on its prospects in attracting the same. Speaking at a monthly luncheon organised by the Foreign Investors’ Chamber of Commerce and Industry (FICCI) in Dhaka, Bangladesh recently, Ambassador and Head of delegation of the European Union in Bangladesh Pierre Mayaudon expressed concerns over the recent killings of intellectuals and citizens in the country, and termed the safety and security condition in Bangladesh ‘a strong deterrent to foreign investors in considering setting up operations here’.

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“Of course, we cannot engage in business without discussing safety and security policy,” Mayaudon reportedly said in a direct reference to the recent killings. The EU envoy also underlined that Bangladesh can attract more FDI by ensuring less corruption, better governance, more clarity in regulatory issues, more visibility of special economic zones, and security in the country, while adding that the country has attracted a mere Euros 2 billion in foreign direct investment in 2015, with the EU private sector contributing 21.5 per cent of it.

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Taking part in the luncheon, FICCI President Rupali Chowdhury described FICCI as a platform of foreign companies operating in Bangladesh. As most of the companies hail from the EU region, Rupali maintained that the FICCI could play an important role in the country’s economic and social development.