Bring in the investment

There is no denying it: Foreign direct investment is key for sustainable growth. That is why it would behoove Bangladesh’s government to ensure policies are put in place to encourage the influx of FDI, not act as a barrier to it. Bangladesh is notoriously complicated when it comes to taxation policy -- the laws are ambiguous at best, and investors continue to struggle to understand the complicated policies and procedures. That is not all. In the Ease of Doing Business Index, Bangladesh is ranked 176th in the word, only edging past Afghanistan amongst Saarc countries. A country wishing to expand can ill afford to nurture an environment which dissuades the emergence of new businesses and economies. But it seems that that is exactly what Bangladeshi authorities are hell-bent on doing, as corruption and bureaucracy plague governmental infrastructures. Is it any wonder then that many Asian countries -- such as Vietnam, which has a similar economic make-up to that of Bangladesh -- continue to attract more foreign investment than us? Such circumstances not only discourage investment from outside, but also prevent up and coming local businesses from emerging as well. Bangladesh’s promotion to developing nation status necessitates that we alter our policies to reflect a change which encourages continued growth, not stagnation. A healthy FDI inflow is crucial for Bangladesh’s future, and more encouraging governmental initiatives will go a long way in ensuring that healthy foreign investment remains a reality.