Investment proposals by companies registered with Bangladesh Investment Development Authority (BIDA) has fallen by 45.88% during January to March month of the current fiscal year 2016-17.
According to the latest BIDA data released on Tuesday, during the period, a total of 510 industrial units were registered with BIDA for investment.
In the three months, 510 industrial units submitted proposals for investing a total of Tk37,217 crore and 4.3m while 487 industrial units proposed for investing Tk68,767 crore and 6.1m during October to December period, said BIDA data.
The data also showed local investment proposals rose by 28.80% during third quarter while BIDA received proposals for investing a total of Tk29,680.16 crore from local entrepreneurs for investing in 469 industrial units.
The proposed amount by local investors was Tk23,044.13 crore for 444 industrial units during second quarter.
During the third quarter, BIDA also received proposals of a total of Tk7537.27 crore from foreign investors for investing in 20 fully foreign owned industrial units and 21 joint venture units with local entrepreneurs.
According to BIDA, the highest number of proposals came for the service industrial sector which was 31.15% of the total proposed amount during the month of January to March.
The chemical industries came next with 17.58% followed by textile with 10.51%, food and allied 12.52%, Engineering 4.76% and others 23.48% during the Q3.
In another development of the day, the first meeting for formulating a policy for Bangladeshi entrepreneurs’ investment abroad was held at BIDA Board Room, said a BIDA press release.
BIDA Executive Member Ajit Kumar Paul presided over the meeting while Bangladesh Bank General Manager ANM Abul Kashem, first secretary (Tax) of National Board of Revenue (NBR) Iqbal Bahar and Foreign Ministry’s Economic Affairs Director Md Rashedujjaman were, among others, present at the programme.
Paul said they are thinking positively about Bangladeshi investors’ investment in abroad.
“If we find that making investment abroad will bring higher returns, we will suggest allowing overseas investment,” he said.
Paul said they will soon start scrutiny of the policies followed by other countries in this case.
Friday, March 21, 2025
