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Ashiq Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), has commented that it will be difficult to gain the confidence of foreign investors if the country’s fuel crisis is not resolved.
He made this remark at a seminar organized by PRI in Banani, Dhaka, on Monday (May 11).
Ashiq Chowdhury stated, “Attracting foreign investment is not BIDA’s sole responsibility. Lack of coordination among various government departments and agencies creates diverse complications, which affect the investment climate.”
He further added, “If the crisis in the energy sector cannot be resolved, it will not be possible to build confidence among foreign investors.” He also mentioned that job creation would be given utmost priority in the upcoming budget.
A.H.M. Shafiquzzaman, President of the Consumers Association of Bangladesh (CAB), said, “Doing business in the country feels like a major offense. There is no suitable environment for honest business practices for entrepreneurs, and he blamed bureaucratic complexities for this situation.”
He added, “The government is providing cash incentives of BDT 6,000 to 8,000 crore. However, instead of these, greater importance should be given to ensuring energy security.”