Investment in Bangladesh could face obstacles if the upcoming national election is not held within the promised timeframe, warned Professor Dr Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD).
"If the next election in Bangladesh is not held within the pledged timeframe, political uncertainty may arise, consequently hampering investment," Mustafizur said while speaking at a shadow parliament debate competition on "Prospects and Challenges of Foreign Investment," organized at the FDC on Saturday.
He emphasized that political stability is essential for sustainable investment.
Although a recent investment summit had generated optimism about foreign investment in Bangladesh, the actual commitments received were not particularly substantial, he added.
The CPD distinguished fellow said the ambition expressed at the summit to elevate Bangladesh to Singapore’s level within the next decade was unrealistic.
However, he noted that if an investment-friendly environment is maintained, the country could achieve a position comparable to Thailand within that time.
Reflecting on past government reports, he said: "Investment statistics during previous administrations often presented an unrealistic picture. For instance, the Seventh Five-Year Plan projected $33 billion in foreign direct investment (FDI), whereas the actual inflow was only $11 billion."
Mustafizur also compared Bangladesh's FDI situation with that of other countries, saying: "Vietnam’s current FDI stands at $360 billion, while Bangladesh has attracted only $22 billion. Moreover, the current situation in India and Pakistan poses concerns for foreign investment in Bangladesh. If war breaks out, India's military expenditure will rise, potentially disrupting the tariff advantages we currently enjoy with them."
At the shadow parliament debate organized by Debate for Democracy, Eden Mohila College defeated Dhaka College to emerge victorious.
The event was held with its Chairman Hasan Ahmed Chowdhury Kiron, in the chair.
