Bangladesh to get more FDI: Finance Minister

Finance Minister AHM Mustafa Kamal on Wednesday expressed his high optimism that Bangladesh would get more foreign direct investment (FDI) in the coming days since the country is a very good destination for making investments.

"Bangladesh is a very good place for making investment. Bangladesh is not lagging behind in attracting investment compared to other countries. The country will get more FDI and it's my belief," he said.

The finance minister said this virtually after chairing two separate meetings on the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP).

He said the CCEA meeting approved a proposal in principle for signing development agreement and land lease agreement between Bangladesh Economic Zones Authority (Beza) and the Bangladesh SEZ Ltd for developing the special economic zone exclusively for the Japanese investors being set up on 1,000 acres of land at Araihazar upazila in Narayanganj.

Bangladesh SEZ Ltd is a joint venture of Beza and Sumitomo Corporation of Japan.

The finance minister said that it was a long cherished thing that the Japanese investments would come to Bangladesh in a large scale while a series of meetings to this end were held between him and the Japanese ambassador, JICA Country representative and other concerned officials.

"Once the Japanese SEZ is developed, it will be a milestone for the country and we'll see a lot more projects like this in the future. Now we have all kinds of physical and non-physical infrastructures," he added.

He also hoped that after completion, this Japanese SEZ would create a huge employment opportunity in the country.

Joining the briefing, Cabinet Division Additional Secretary Md Zillur Rahman Chowdhury said that the day's CCEA meeting approved a proposal in principle from the power division for procuring spares, consumables and schedule maintenance works under Direct Procurement Method (DPM) from Siemens, Germany for the Ghorashal 365MW combined cycle power plant.

Besides, he informed that another proposal from Ministry of Agriculture was approved in principle in the meeting under which necessary products and services would be procured under DPM method for hosting the 36th session of FAO Regional Conference for Asia and the Pacific (APRC) to be held in Bangladesh for the first time from 8-11 March this year.