Economic Reporter :
Bangladesh Bank Governor Dr Atiur Rahman on Saturday sought the Non-Resident Bangladeshis (NRBs) investment in the capital market and real estate sector for boosting country’s economy.
“In fact, some of them already invested in the areas of aviation, hotels and restaurants, fish and agro-processing industries”, said the governor while addressing the NRB Center Investment Conference 2015 in a city hotel.
10 per cent of the IPOs are reserved for the NRBs. Both foreign ownership and joint venture options with the private and public sector are open for non-resident investors, including the NRBs. On the other hand, 100 percent foreign ownership is freely permissible for FDIs in the industrial sector, said the governor.
Several incentives for the NRBs are under consideration if they invest in the special economic zones like hi-tech and industrial park. Different savings instruments such as non-resident foreign currency deposit, US Dollar premium bond and wage earners development bond are available for investment by NRBs, also said Atiur Rahman.
The central bank has taken additional measures to attract NRBs to participate in these trading platforms, which are now mostly digitized. Moreover, the government is also encouraging public-private partnership (PPP), tax holiday and investment by the NRBs.
The central bank chief also urged the NRB to encourage the foreign investors to invest in the other potential sectors of the country. “Our NRB entrepreneurs are the pathfinders for other foreign investors who are eager to shift from other countries”, said Atiur Rahman.
Appreciating the role of NRBs in promoting country’s economy, the governor said, Bangladesh is now one of the global leaders in remittance earnings for their contribution.
“The inflow of remittance was $15.30 billion in the last fiscal 2014- 15. This demonstrates the inherent strength of our external sector. We must give credit to the NRBs for attaining this strength and external stability”, said the governor.
The modernization and digitization of payment system and subsequent enhancements of mobile financial services in inward remittances are reducing the necessity of sending money through informal channels. Recent introduction of RTGS added a new dimension to the promptness of international money transfer, said the governor.
Addressing the conference, M S Shekil Chowdhury, Chairperson of Centre for NRB demanded for implementing hassle free investment procedures.
Former FBCCI President Kazi Akramuddin Ahmed and First Vice- President of FBCCI Shafiul Islam Mohiuddin also spoke on the occasion.
Bangladesh Bank Governor Dr Atiur Rahman on Saturday sought the Non-Resident Bangladeshis (NRBs) investment in the capital market and real estate sector for boosting country’s economy.
“In fact, some of them already invested in the areas of aviation, hotels and restaurants, fish and agro-processing industries”, said the governor while addressing the NRB Center Investment Conference 2015 in a city hotel.
10 per cent of the IPOs are reserved for the NRBs. Both foreign ownership and joint venture options with the private and public sector are open for non-resident investors, including the NRBs. On the other hand, 100 percent foreign ownership is freely permissible for FDIs in the industrial sector, said the governor.
Several incentives for the NRBs are under consideration if they invest in the special economic zones like hi-tech and industrial park. Different savings instruments such as non-resident foreign currency deposit, US Dollar premium bond and wage earners development bond are available for investment by NRBs, also said Atiur Rahman.
The central bank has taken additional measures to attract NRBs to participate in these trading platforms, which are now mostly digitized. Moreover, the government is also encouraging public-private partnership (PPP), tax holiday and investment by the NRBs.
The central bank chief also urged the NRB to encourage the foreign investors to invest in the other potential sectors of the country. “Our NRB entrepreneurs are the pathfinders for other foreign investors who are eager to shift from other countries”, said Atiur Rahman.
Appreciating the role of NRBs in promoting country’s economy, the governor said, Bangladesh is now one of the global leaders in remittance earnings for their contribution.
“The inflow of remittance was $15.30 billion in the last fiscal 2014- 15. This demonstrates the inherent strength of our external sector. We must give credit to the NRBs for attaining this strength and external stability”, said the governor.
The modernization and digitization of payment system and subsequent enhancements of mobile financial services in inward remittances are reducing the necessity of sending money through informal channels. Recent introduction of RTGS added a new dimension to the promptness of international money transfer, said the governor.
Addressing the conference, M S Shekil Chowdhury, Chairperson of Centre for NRB demanded for implementing hassle free investment procedures.
Former FBCCI President Kazi Akramuddin Ahmed and First Vice- President of FBCCI Shafiul Islam Mohiuddin also spoke on the occasion.
