I do not think we are going to see any new initiatives by foreign companies to make investments in Bangladesh in the coming months. When DI [Domestic Investment] is under threat FDI cannot flourish. Having right policies is not enough to attract investment; there should be the right kind of environment. The government launched a crusade like campaign against corruption but it ended up generating fear among all citizens irrespective of their profession and social status. This situation cannot continue for long; there has to be a change and the change is expected to take place after national elections are held. Until then let's not talk about FDI.
Shameem Choudhury, by email
EDI policy needs to be framed taking national interests into consideration. In the first place we should not have allowed so many foreign companies to invest in the mobile network. Our foreign exchange situation is quite good but it does not mean we can allow foreign companies to take out more money than they bring in. We need FDI and at the same time we need to have control over the nature and specifics of investment. The Board of Investment should identify categorically the sectors that can give benefits to both investors and our country. In this connection I would like to emphasize FDI in export-oriented product diversification projects.
Azizul Haque, Agrabad, Chittagong
How can you expect foreigners to do business in Bangladesh when our own businessmen are sitting idle? You talk about removing corruption but you know your motive is to remain in power. You show you are busy preparing elections when you know it is all farce. You mention 11th January and you make people suffer from fear and hunger. Don't forget, foreigners have enough education to judge your situation. Don't expect them to invest their money in a country where everything is uncertain.
Shuvo, by email
You have rightly pointed out that foreign direct investment is a global phenomenon. In many developed countries now, there is minus growth or growth is sluggish at most. The US is feeling the pinch of credit crunch. The depreciation of the dollar, the record high price of oil and shortage of essential food stuff in the world market are just some of the pressing problems that are affecting the lives of people almost everywhere. In other words the world is passing through a difficult transition economically. This is the main reason why we are not seeing much foreign investment in Bangladesh. Domestically, the caretaker government is doing its utmost to create a congenial atmosphere for good business and good governance. I believe the government will be successful in its mission and then both foreign and local investments will pick up.
Md. Shamsul Alam, Banani, Dhaka
Women Entrepreneurs
The Executive Times has been focusing on women entrepreneurs of our country for quite some time. While I appreciate the great effort, I still think the coverage is biased in favour of those women that are at the top hierarchy of society. There are many women at the bottom tier who are contributing to our economy in whatever capacity they can. These women deserve to be given due attention.
Iffat Ara, Segunbagicha, Dhaka
Slum
Uttara Model Town in Dhaka is regarded as a posh residential area on paper only and not in reality. Even after 7-8 years of handing over plots to the owners, scattered here and there are unauthorized constructions like slums, cattle yards and workshops, emitting foul smell and giving a dirty look. Sector 11 in particular is notorious for this uncivilized culture. Officially it is RAJUK that is responsible for ensuring proper construction works, but RAJUK is a name for inefficiency, corruption and dilatory culture unless military guns are pointed at it.
A citizen of Dhaka, by email
Bilateral Relations
I read the Turkish ambassador's interview with interest. Turkey is one country with which the balance of payments is in our favour. However, as His Excellency has rightly pointed out, the trade volume is very low - USD 300 million in 2007 -- and we have to work together to increase the volume. Bangladesh could very well exploit such items as jute, tea, leather and textile for the Turkish market.
Md. Abdul Baten, Azimpur, Dhaka
Please send your comments by email editor@exectimes.com
