Dhaka //

The New Development Bank (NDB), formed by the BRICS alliance of five emerging economies, has already invested $300 million in Bangladesh. The organization will invest another $1 billion or $1 billion.

Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashiq Mahmud Bin Harun gave this information at a press briefing organized at the Intercontinental Hotel in the capital on Tuesday regarding the investment conference. Chief Advisor’s Press Secretary Shafiqul Alam was present at the time.

Responding to a question about what investors want to know, the BIDA Executive Chairman said that investors are asking questions in two categories. What kind of facilities will be provided if they do business in Bangladesh. The second question is, what kind of problems are the businessmen already facing, what should they do to overcome them. Apart from this, foreign investors are asking about what steps will be taken by the government to stop the red tape.

He said that the aim of this summit is not to bring investment now. The main aim of this summit is networking. Here we are giving priority to networking.

Regarding the ease of doing business, he said, the ease of doing business index was done long ago. It should not be followed now. There is no market in the world where there are no problems. Every country has some problems. We are trying to solve the problems that exist. We will try to solve these problems in the next one or two years.

Regarding the impact of the US retaliatory tariffs, he said, the problem of tariffs is not only in Bangladesh, but in the whole world. Not only Bangladesh, the whole world is suffering. The chief advisor has already written a letter to the Trump administration. We have made that letter public.

In response to a question about a foreign company operating for three and a half years but not getting a license, the BIDA chairman said, ‘We have heard that a Chinese company has been operating for three and a half years. But it is not getting a license. However, I will be able to tell you the name of that company or the reason why I did not get it after a week. They are a large manufacturing company.’

The Bidar chairman also said that today the Vice President of (BRICS) there met with the Chief Advisor. He said that their impression of Bangladesh is very positive. They have recently started a project with WASA. They want them to be able to provide funds not only to the government but also to the private sector. We have also tried to convince them that they have the opportunity to provide funds to social infrastructure including hospitals and housing.

A four-day investment conference began on Monday, April 7 at the Intercontinental Hotel in the capital. Tuesday was the second day of the conference. Investors from 40 countries, including the United States, China, Japan and South Korea, are participating in the conference organized by Bidar.

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