• Monday, Nov 29, 2021
  • Last Update : 01:49 am

German envoy: Corruption, bureaucracy hurdles to attracting FDI

  • Published at 11:19 pm February 3rd, 2020
Web_Peter Fahrenholtz
German ambassador Peter Fahrenholtz Courtesy

More Bangladeshis urged to study, research in Germany

Corruption, regulations and bureaucratic complexities are the main hurdles Bangladesh is facing in attracting foreign direct investment (FDI), which is badly needed for the economy, German Ambassador in Dhaka Peter Fahrenholtz said on Sunday.

He also said Bangladesh, with its current size of economy, is going to need investment worth about $120 billion in two to three years.

The envoy made the remarks at a press conference at the German embassy, on the visit of Katja Lasch, regional director of German Academic Exchange Service.

Fahrenholtz pointed out that only a little portion of this amount may come from the banking system, stock exchanges and government sources.

The rest of the money has to come from FDI, and it is important to remove the hurdles to attract investments from abroad, he added.

Regional Director Lasch gave an overview of German education and called for more Bangladeshis to study and research in Germany.

She said 3,200 Bangladeshis were currently studying in Germany, which is the third largest country for the international students.

Lasch said unlike the United Kingdom and Australia, Germany has a different approach to education, which is the emphasis on public good rather than business.

Placing emphasis on more academic exchange between Bangladesh and Germany, she said it would benefit the countries and the students will act like a bridge between Dhaka and Berlin.

There are adequate scholarships available for the students with academic excellence, she added.

The German ambassador said that his government would consider any request from Bangladesh to help with respect to training for skills development and entrepreneurship.

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