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Still the place to invest

  • Published at 12:00 am July 24th, 2016
Still the place to invest

It is incredibly encouraging to know that, despite recent setbacks, foreign investors have not lost faith in Bangladesh as an important up-and-coming driver of global economic growth.

While incidents such as the attack on Holey Artisan Bakery -- a café especially frequented by foreign workers in Dhaka -- left many questions hanging regarding the state of safety and security in the capital, they have not kept Bangladesh’s competitively low labour costs and efficient supply chain, especially in the readymade garment industry, from remaining attractive to investors.

In fact, according to a report issued recently by US-based Fitch Group’s BMI Research, Bangladesh was identified as one of the 10 future emerging markets which are set to become important new contributors to the global economy over the next decade.

An exceptionally stable economic expansion, averaging at 6.2% year on year over the last decade, is just further proof of how statistically reliable a partner our country can be for any would-be foreign investor.

However, it doesn’t mean that we can simply rest on our laurels, expecting the economy, and indeed the country, to improve by itself. Uncertainty still prevails over many foreign investors, who are choosing to err on the side of caution, understandably, by not rushing to send their staff to do business with us.

Which is where the government steps in.

A lot has been said over the incumbent regime’s grand plans to propel Bangladesh into the middle-income zone by the end of this decade, and to that end, safety and security are paramount -- if the government can ensure these, investors will come.