Staff Reporter:
Investment in Bangladesh could face obstacles if the upcoming national election is not held within the promised timeframe, warned Prof Mustafizur Rahman, distinguished fellow of the Centre for Policy Dialogue (CPD).
“If the next election in Bangladesh is not held within the timeframe, political uncertainty may arise, consequently hampering investment,” he said while speaking at a shadow parliament debate competition on ‘Prospects and Challenges of Foreign Investment’ held at the FDC on Saturday.
Mustafizur Rahman emphasised that political stability is essential for sustainable foreign investment.
Although a recent investment summit generated optimism about foreign investment in Bangladesh, the actual commitments received were not particularly substantial, he added.
He said the ambition expressed at the summit to elevate Bangladesh to Singapore’s level within the next decade was unrealistic. Still, if an investment-friendly environment were maintained, the country could achieve a position comparable to Thailand within that time.
Reflecting on past government reports, he said, “Investment statistics during previous administrations often presented an unrealistic picture. For instance, the Seventh Five-Year Plan projected $33 billion in foreign direct investment (FDI), whereas the actual inflow was only $11 billion.”
Mustafizur Rahman also compared Bangladesh’s FDI situation with other countries, saying, “Vietnam’s current FDI stands at $360 billion, while Bangladesh has attracted only $22 billion. Moreover, the current situation in India and Pakistan poses concerns for foreign investment in Bangladesh. If war breaks out, India’s military expenditure will rise, potentially disrupting the tariff advantages we currently enjoy with them.”
At the shadow parliament debate organised by Debate for Democracy, Eden Mohila College defeated Dhaka College to emerge victorious.
The event was held with its chairman, Hasan Ahmed Chowdhury Kiron, in the chair.
