Bangladesh is now trying to establish itself as the next
rising star in South Asia for foreign investment. The government has implemented
a number of policy reforms designed to create a more open and competitive
climate for private investment, both foreign and local.
The country has a genuinely democratic system of government and enjoys political stability seen as a sine qua non for ensuring a favorable climate for investment and sustained development.
Bangladesh has been quick to undertake major restructuring for establishing a market economy, with the major thrust coming from the private sector. The country enjoys modest but steady economic growth. Its current development strategy is based on the premise that the creation and distribution of wealth occurs through the acceleration of growth driven by competitive market forces, with the government facilitating growth and making a clean break from the practices of a controlled economy where private investment is constrained. With this objective, the government has been gradually withdrawing its involvement in industrial and infrastructure sectors and promoting private sector participation.
Sheikh Hasina the Prime Minister of Bangladesh, during her recent visit to the USA, invited the prospective investors to invest in Bangladesh. In this edition of Hello Washington the prospects as well as the problems of investment were discussed while answering the questions of our listeners.
Our panelists were, Dr AK Abdul Momen , Permanent
Representative from Bangladesh in the United Nations; Dr Baker Ahmed Siddiquee ,Professor of
Economics at the University of Illinois at Springfield;
Mr Ahmedus Samad Chowdhury ,JP. Founder Director, British-Bangladesh Chamber of Commerce & Industries in London and Chairman London’s 'S' TV Channel and
Mr Waliur Rahman Bhuiyan - President Foreign Investors' Chamber of Commerce & Industries in Bangladesh & Managing Director Bangladesh Oxygen Limited, Dhaka