The Board of Investment (BoI) and International Finance Corporation (IFC), a member of the World Bank Group, have joined hands to explore ways to attract both domestic and foreign investment as a way to widen market opportunities for investment in Bangladesh, reports UNB.
To start with, a stakeholders’ consultation workshop on agribusiness potential has been held in Dhaka to discuss agribusiness investment opportunities with potential investors and relevant stakeholders, an IFC press release said.
The BoI has also initiated a two-year Bangladesh Agribusiness Investment Facilitation Project to enhance investments in high value added agricultural products for catering to the huge local market demand and explore export markets.
This project is supported by Bangladesh Investment Climate Fund, which is managed by IFC, in partnership with the UK government and the European Union.
“IFC’s assistance in harnessing investment potential in agribusiness will help reduce import and boost export in the long run,” said Dr Syed A Samad, BoI executive chairman.
Agribusiness can be a major sector to earn foreign currency if supported by the right policies and promotion. Smooth export facilities for agro-based products can also help save wastage in times of over-production.