UNB, Dhaka :
Speakers at a seminar here on Tuesday underscored the need for opening up the opportunity of investment abroad by Bangladeshi businessmen.
While addressing the seminar organised by International Business Forum Bangladesh (IBFB) at its Tejgaon office, they also called for formulating necessary laws and regulations in this regard.
The speakers said the country’s businesspeople have already earned the economic power and knowledge for overseas investment and they should be given the opportunity for this.
They, however, stressed the importance of ensuring strict monitoring so that the country enjoys its benefits and the culture of siphoning
off money in the name of investment could be eliminated.
Executive Member of Bangladesh Investment Development Authority (BIDA) Ajit Kumar Paul and President of Federation of Bangladesh Chambers of Commerce and Industry Shafiul Islam Mohiuddin spoke as special guests at the programme presided over by IBFB President Hafizur Rahman.
Additional Research Director of Centre for Policy Dialogue (CPD) Dr Khondaker Golam Moazzem, President of Destiny Group Harun-ur-Rashid, Supernumerary Professor of Bangladesh Institute of Bank Management (BIBM) and former Managing Director of Pubali Bank Helal Ahmed Chowdhury were present.
Mentioning that work has started to formulate guidelines for investment abroad, Ajit said they will put forward proper suggestions for building necessary legal framework in this regard. “Investment atmosphere should be created for the private sector. Besides, we have to specify in which sector investment can be made in a country.”
He also said focus group meetings are being held in this regard.
Mentioning that many countries offer land to Bangladeshi entrepreneurs for investment, Mohiuddin said, “We must take this opportunity. We can invest in many countries.”
Meanwhile, the government has formed a committee following the demand of the business community. The committee will place some guidelines specifying the potential sectors for investment by the Bangladeshi businessmen abroad.
As per the Foreign Exchange Regulation Act, 1947, the overseas investment by Bangladeshi businessmen in prohibited.
However, the law was amended in 2015 which said businessmen can apply to Bangladesh Bank for permission to invest aboard. If the central bank grants the application upon consultation with the government, investment can be made in any foreign country.
Speakers at a seminar here on Tuesday underscored the need for opening up the opportunity of investment abroad by Bangladeshi businessmen.
While addressing the seminar organised by International Business Forum Bangladesh (IBFB) at its Tejgaon office, they also called for formulating necessary laws and regulations in this regard.
The speakers said the country’s businesspeople have already earned the economic power and knowledge for overseas investment and they should be given the opportunity for this.
They, however, stressed the importance of ensuring strict monitoring so that the country enjoys its benefits and the culture of siphoning
off money in the name of investment could be eliminated.
Executive Member of Bangladesh Investment Development Authority (BIDA) Ajit Kumar Paul and President of Federation of Bangladesh Chambers of Commerce and Industry Shafiul Islam Mohiuddin spoke as special guests at the programme presided over by IBFB President Hafizur Rahman.
Additional Research Director of Centre for Policy Dialogue (CPD) Dr Khondaker Golam Moazzem, President of Destiny Group Harun-ur-Rashid, Supernumerary Professor of Bangladesh Institute of Bank Management (BIBM) and former Managing Director of Pubali Bank Helal Ahmed Chowdhury were present.
Mentioning that work has started to formulate guidelines for investment abroad, Ajit said they will put forward proper suggestions for building necessary legal framework in this regard. “Investment atmosphere should be created for the private sector. Besides, we have to specify in which sector investment can be made in a country.”
He also said focus group meetings are being held in this regard.
Mentioning that many countries offer land to Bangladeshi entrepreneurs for investment, Mohiuddin said, “We must take this opportunity. We can invest in many countries.”
Meanwhile, the government has formed a committee following the demand of the business community. The committee will place some guidelines specifying the potential sectors for investment by the Bangladeshi businessmen abroad.
As per the Foreign Exchange Regulation Act, 1947, the overseas investment by Bangladeshi businessmen in prohibited.
However, the law was amended in 2015 which said businessmen can apply to Bangladesh Bank for permission to invest aboard. If the central bank grants the application upon consultation with the government, investment can be made in any foreign country.
