We need Bangladesh to be more open to foreign investment
The ongoing US-China trade war presents a rare opportunity for Bangladesh to further boost our country’s foreign direct investment.
With more and more US businesses shifting away from China, it now rests on our policy-makers and local administrations to make the most of the situation.
While the domino effect that the trade war has had on existing Bangladeshi exports being boosted is great to see, to fully reap the benefits we need to start attracting newer businesses that would have previously considered China as an attractive destination for investment.
And, to achieve that, simply put, we need Bangladesh to be more open to foreign investment.
Our nation is notoriously lacking when it comes to ease of doing business, not just for foreign companies, but often even local firms. The primary suspect behind this is the woeful state of our infrastructure.
Coupled with the rampant corruption and unnecessary levels of bureaucracy at practically every level of our administrative bodies, it becomes easy to understand why foreign investors would be deterred from setting up shop on our shores.
The trade war between two of the most powerful nations in the world is going to have massive ripple effects in the world of commerce, and, even without trying, our nation is already reaping the benefits. But the advantages we stand to gain if we make the right moves would be manifold.
This is not an opportunity we can afford to lose out on.