Bangladesh FDI surpasses $2 billion mark

Bangladesh’s foreign direct investment for 2015 has surpassed the $2 billion threshold, the UNCTAD World Investment Report has said.

The report released on Wednesday said that Bangladesh had attracted $2.23 billion worth FDI in 2015, thus becoming the second highest South Asian FDI attractor after neighbouring India.

The country’s FDI went up by 44% since 2014.

Neighbouring India stands tall among the South Asian nations as the highest FDI getter for the year 2015. With $44 billion FDI in 2015, the country saw a 27% jump in its FDI tally since 2014.

The analysis of the report revealed that gas, power and petroleum sector attracted the highest FDI share in 2015 for Bangladesh, with a total of over $570 million investment.

Readymade garments came next with investors pumping in $440 million in this sector.

Telecommunications, banking and food products bagged the next highest investments, earning $250 million, $310 million and $120 million, respectively.

Speaking at the event, North South University Economics Professor M Ismail Hussain said global FDI figures were up by 38% or $1.76 trillion in 2015.

He, however, cautioned against a possible FDI slump in 2016, owing to a sluggish economic growth, taxation, and other hindrances.

But he predicted bright prospects in the years ahead.

Prime Minister's Energy Advisor Tawfiq-E-Elahi Chowdhury expressed satisfaction at the FDI growth and said that surpassing the $2 billion mark instilled confidence about the nation emerging stronger.