Commercial wings of Bangladesh foreign missions will be strengthened as part of a government plan to pull in foreign direct investment (FDI).
The government came up with a decision to strengthen the missions at a time when a great deal of Japanese investment shifted to Vietnam, Indonesia and India from China due to lucrative corporate tax structure there.The 2nd governing board meeting of Bangladesh Investment Development Authority (BIDA) endorsed the decision with Prime Minister Sheikh Hasina in the chair.
The 2nd board meeting assigned the ministry of foreign affairs and the ministry of commerce in this regard, reliable sources confirmed.
The BIDA will connect with the commercial wing on a regular basis and the ministry of foreign affairs will support them, officials confirmed.
Besides, the commerce ministry will play vital role to attract FDI connectivity with the support of BIDA.
The BIDA has already published a handbook to attract investment styled: “Bangladesh Investment Handbook: A Guide for Investors”.
The government has decided to send the handbook to foreign missions of Bangladesh to make foreigners aware of investment opportunities offered by Bangladesh.Besides, the handbook will also upload on the missions’ website, it also decided.
On the other hand, the government also decided to conduct regular market survey of the prospective investment sectors every four months for expanding foreign market.
Bangladesh has already prepared strategic paper 2020-2024 to invest here.
Prime Minister Sheikh Hasina has expressed expectation that the government will provide appropriate information to investors by utilizing the strategic paper on investment.