Gowher Rizvi, International Affairs Adviser to the Prime Minister Sheikh Hasina, has urged the businessmen to depict the real scenario of doing business in Bangladesh for attracting foreign investors here.
Rizvi came up with the call while addressing a seminar on “Investment Climate in Bangladesh: Looking Ahead” organised by Dhaka Chamber of Commerce and Industry (DCCI) in the city yesterday.
Speaking as chief guest, he said, “We have to correct our narratives about our potentials and opportunities in doing business, instead of undermining ourselves.”
“We undermine our own-selves,” said Rizvi who also urged the private entrepreneurs to work as ambassadors abroad to enhance the image of the country.
He also admitted that without Foreign Direct Investment, Bangladesh wouldn’t be able to implement its 7th five-year plans.
“Somewhere, there is a mismatch between what we are and what we narrate about ourselves and the major problem is the gap,” said Rizvi.
In this regard, he urged the businessmen to make extra efforts to find out the gaps hindering the country’s efforts in doing better than the other countries.
DCCI President Hossain Khaled urged the government agencies including the central bank to undertake and design comprehensive, inclusive and effective road map in coordination with private sector to improve the position of Bangladesh in doing business.
He also called for restoration of investors’ confidence and competitive advantages of Bangladesh to outperform other contending countries as attractive investment hub. He said SDG required around US$600bn investment with large stake of private sector.
“The central bank is considering to provide long-term and lower-rate financing for the business under the Export Development Fund (EDF),” said Shitangshu Kumar Sur Chowdhury, deputy governor, Bangladesh Bank.
According to Board of Investment (BoI), Bangladesh witnessed FDI of $1.52bn, which was 4.5% less compared to $1.6bn of 2013.
Nabhash Chandra Mandal, Executive Member, Board of Investment (BOI) presented key-note on business climate while Abrar A Anwar, country chief executive officer, Standard Chartered Bank, Bangladesh and M Masrur Reaz, program manager, International Finance Corporation (IFC), Bangladesh also spoke on this occasion.