Policy support to boost FDI: Policy support to boost FDI:Roundtable meeting suggests greater role from lawmakers, Daily Sun, February 28, 2013

Speakers at a roundtable Wednesday suggested greater role from the lawmakers to facilitate increased inflow of foreign direct investment (FDI), much needed for a higher economic growth.

Speakers at the roundtable said the country has maintained a steady growth, but to achieve the ‘Vision 2021’, it would not be enough.

Some 30 to 35 percent of GDP should be invested to accelerate the growth to 8 percent or more, from the current average of nearly 6.5 percent, which requires active support from the parliamentarians, they added.

Bangladesh Enterprise Institute (BEI), in association with The Asia Foundation, organised the roundtable on “Improving Investment Climate in Bangladesh to Realise the Vision 2021” at a local hotel.

BEI president Farooq Sobhan chaired the roundtable.

Lawmakers’ role was also sought for removing existing policy and regulatory barriers to FDI to create an investment-friendly policy framework to fulfill the vision of a middle income country by 2021.

The speakers also underscored the continuation of national plans and policies for the greater interest of national development.

Taking part in the discussion, Commerce Minister GM Quader said parliamentarians should remain above their personal interests.

“Parliamentarians should be people’s representative; not of business community,” GM Quader said.

EU Ambassador to Bangladesh William Hanna felt the necessity of continuation of the democratic process and the parliamentary system for development of the country.

He said the Europeans are now flooding the country to look for investment opportunities here.

He said investment with home grown resources in Bangladesh is good, but for additional investment to spur growth, FDI would be needed. He called for a “level playing field” for investors.

Lawmaker Golam Mowla Rony suggested forming a parliamentary caucus to look into hurdles related to business and investments.

The event was also, addressed, among others, by former minister Abul Hasan Chowdhury, lawmaker Barrister Anisul Islam Mahmud.

Source:http://www.daily-sun.com/index.php?view=details&archiev=yes&arch_date=28-02-2013&type=Policy-support-to-boost-FDI&pub_no=423&cat_id=1&menu_id=3&news_type_id=1&index=1

28 February, 2013