Making Bangladesh more investor-friendly

It is undeniable that Bangladesh has made exceptional progress over the last many years, especially considering its status as a least developing country. As we move closer to graduating from that status, however, we must acknowledge the need -- now, more than ever -- for foreign investment, in order to boost our economy further.

While we witnessed a year-on-year increase in FDI at the beginning of the current fiscal year, Metropolitan Chamber of Commerce and Industry (MCCI) Dhaka suggests that the inflow is comparatively lower than that of other developing nations.

It is unfortunate that foreign investors seem hesitant to make investments in Bangladesh. However, it also indicates a number of areas where we are lacking as a nation, which require our immediate attention.

A scarcity of energy, underdeveloped infrastructure, and a lack of standard policies are some of the concerns that persist for our nation, and while the government has taken timely initiatives to improve upon our shortcomings, more time, resources, and collective assistance is required to achieve a more complete reform.

The Covid-19 pandemic, the Russia-Ukraine war, and their subsequent global aftermath have not only significantly hindered the growth rate for most countries, but have also set many of us back in terms of progress, as especially developing nations attempt to find their footing again and undo the damage.

Under such circumstances, it is important to recognize the barriers to our holistic development, and address them with careful consideration. Only when we have a stronger, more concrete foundation can our country attract the kind of investment we need to achieve our goals.

Our government has demonstrated commendable determination and competence in the face of unforeseen adversities, and as long as the same is applied to any and all factors holding us back, we can soon begin building the nation we aspire for.