UNB, Dhaka :
Finance Minister AMA Muhith on Thursday stressed diversification of foreign direct investment (FDI) in the country, saying that foreign investment in the country now only concentrates on two sectors-power and communication.
“In Bangladesh, this is a feature that our foreign investment is concentrated in two sectors, which are power and communication. There is a need for diversification to this end,” he said.
The Finance Minister was addressing a function at the Finance Ministry conference room when the office bearers of Infrastructure Development Company Limited (IDCOL) handed over a cheque of Tk 14 crore to the government as dividend for fiscal 2012-13.
ERD secretary and IDCOL chairman Mohammad Mejbahuddin handed over the cheque of dividend to Muhith at a simple ceremony.
Speaking on the occasion, Muhith said that considering the domestic market of the country, there is a need for more foreign investment in the manufacturing sector. “We expect sufficient foreign investment in the manufacturing sector.”
He opined that the country’s economy is gradually becoming sophisticated and said the sophisticated sectors should get more investment.
About the allegations of many that the government institutions often incur losses and could not do business, the Finance Minister said that earning profit and providing dividends by IDCOL and two other companies on Thursday showed that the government institutions could also do business and earn profit.
He congratulated the Board of Directors of IDCOL for earning Tk 103.53 crore as net profit for fiscal 2012-13.
IDCOL is one of the few government-owned entities that operate independently and pays dividend to the government on regular basis. In FY 12, IDCOL paid Tk 12 crore to the government as dividend.
IDCOL finances large and medium infrastructure projects as well as renewable energy technologies, especially solar home system, solar irrigation pump, solar Mini-grid, biogas plants and improved cook stove programs.
