Bangladesh received over $1.22 billion net Foreign Direct Investment (FDI) in the first seven months (July-January) of the current fiscal year. The amount is 30.4% more than the net FDI received in the same period in the 2014-15 financial year. Finance Minister AMA Muhith has credited the 'strong' base of Bangladesh's economy, consistent growth and the 'stable' political condition for the rise in FDI despite global recession. According to Bangladesh Bank, the net FDI was $1.7 billion in 2014-15 fiscal year and a little over $1.43 billion in 2013-14.

The government has undertaken a plan to rehabilitate around 280,000 poor people by providing them with homes under various housing programmes in the next three years. The projects -- "Ashrayan-2 Project", "Ekti Bari Ekti Khamar Project", "Guchha Gram Project", "Bari Fera Karmasuchi" and "Grihayan Tahabil Project" are being implemented under the supervision of the Prime Minister's Office (PMO). Prime Minister Sheikh Hasina has said her government would try its best to rehabilitate the country's homeless people during its remaining period.

Dhaka University Vice Chancellor Prof Dr AAMS Arefin Siddique was given SUSWM World Peace Award for his outstanding contribution to enlighten society by distributing knowledge and rendering humanitarian services aimed at establishing peace in the society, according to a message received in Dhaka from Kolkata yesterday. Dr Buddha Priya Mahathera, director of Kolkata-based Siddharth United Social Welfare Mission (SUSWM), an organisation of international repute for rendering humanitarian services, conferred the award on Prof Arefin at a function in Kolkata on Sunday.

Infrastructure and Mega Projects

The government is building a 48-km lake at Purbachal city aimed at making the city as modern and international standard. The government has undertaken effective initiatives to make Purbachal, at the outskirts of Dhaka, as a modern and international standard green city. The government has also undertaken initiative to make Uttara 2nd phase residential project under RAJUK as a green city. These were disclosed by Housing and Public Works Minister Engineer Mosharraf Hossain as he addressed the closing ceremony of a three-day "Innovation and Development Expo and Green Investment Summit-2016".

Social Justice and Equity

Global leaders and activists in the fight against AIDS consider Bangladesh's community clinics as an opportunity and a possible model to reduce HIV infection as part of a global agenda to eliminate the virus by 2030. There are more than 13,500 community clinics at the grassroots level meant to provide maternal and neonatal, family planning and nutritional services and establish linkage with the medium and tertiary level hospitals. The 12th International Congress on AIDS in Asia and the Pacific (ICAAP) said it recognizes Bangladesh's community clinics as a model to provide services to reduce maternal mortality and “as an opportunity to reduce mother to child transmission of HIV as well”.

State run Bangladesh Road Transport Corporation (BRTC) has launched a new bus service for women on the Abdullahpur-Motijheel route in Dhaka. The new bus will cover the route starting next Tuesday. The bus will start at 7am every morning from Abdullahpur BRTC counter and go to Motijheel. It will return at 5pm. Following government's instructions, two more women’s bus services will start in Chittagong, one from Chittagong New Market to Chittagong University campus, and the other from Kalurghat to Kathgarh.

The government has decided to double the number of engineering firms to conduct the Detailed Engineering Assessment (DEA) of garment factories to expedite remediation works. This decision comes following the progress of remediation of RMG factories, which were inspected under the National Initiative (NI). Currently, there are 13 engineering firms, which are eligible and permitted to conduct the assessment as per the requirement of global retailers. To expedite the remediation, the government has decided to increase the number of engineering farms to 25 as soon as possible. Under the NI supported by the International Labour organisation (ILO), a total of 1,549 factories have been inspected.

International and Regional Cooperation

This week saw the first water vessel MV Horbour-1, in its maiden voyage, form Bangladesh set sail for India, as coastal shipping services between the two countries were set in motion. Moreover, road communication between Chittagong and Agartala would be established by constructing a bridge over the Feni River in the border area. The goods transported from the Indian ports to Chittagong could be delivered to the north-eastern region of India through roads.

The government has proceeded with the move to identify and explore potential areas and framework of cooperation with China to make sure the optimum utilization of marine resources in the Bay of Bengal. Another decision has also been taken to gear up activities for signing a MoU and other support activities with the State Oceanic Administration of China to receive assistance from the Chinese government for materializing the 'blue economy' concept and capacity building.

Digital Bangladesh

Businesses are going to get new VAT-registration numbers online from April as prelude to enforcement of the now dormant Value Added Tax and Supplementary Duty (SD) Act. The National Board of Revenue (NBR) has planned to issue the new Value Added Tax (VAT) registration numbers preparatory to execution of the much-discussed tax law as per government decision. When the new VAT and SD act comes into force on July 1, 2016, all of the taxpayers have to obtain a new nine-digit VAT-registration number or BIN under the updated law.

Power and Energy

Australia has shown deep interest to develop land-based Liquefied Natural Gas (LNG) Re-gasification Terminal in Bangladesh with its manpower to run the new kind of energy plant in the country. Australian High Commissioner in Dhaka Gregory Anatole Wilcock has expressed his country's interest at a meeting this week. In the wake of the growing demand of energy, the government took plans to install LNG terminal in the country in 2010.

Malaysia has floated a plan to set up a 1,320-megawatt power plant at Maheshkhali and provide 70% of the project cost as loans to Bangladesh. The government and Malaysia will each have a 50% share of the plant and Bangladesh will bear 30% of the project cost. The government plans to set up a total power hub at Maheshkhali where Japan will build several power plants that will altogether produce 3,000 MW of electricity while a seaport will be built by Japan at Maheshkhali through which coal for the power plants will be imported.