July 01, 2019 | Issue 223


World Investment Report: Bangladesh second largest FDI recipient in South Asia

Bangladesh registered a record level of foreign direct investment (FDI) inflow in 2018, topping the list in South Asia. In 2018, Bangladesh reached the highest ever level in the country's history at $3.61 billion, according to World Investment Report 2019 by United Nations Conference on Trade and Development (UNCTAD). The report said FDI in Bangladesh went up by 67.94% in 2018 compared to $2.15 billion in 2017. The Netherlands stood as the second largest investor with of $0.69 billion, and the United Kingdom was the third highest investor with $0.37 billion.

Bangladesh eyes to reduce poverty rate by 10% in four years

The new budget expects the poverty rate be brought down by 10% in the next four years through a coordinated approach engaging the private sector to supplement the government’s anti-poverty initiatives. According to experts, a target has been set to take the rate down to 12.30% and the extreme poverty rate to 4.50% by 2023-24. Over the span of last ten years, the policies of HPM Sheikh Hasina has overseen the menace of poverty reduce to around 20%, changing the fortunes over millions of lives.

Persuade Myanmar to take back Rohingyas: HPM urges China

HPM Sheikh Hasina urged China to persuade Myanmar to take back their over one million Rohingya nationals from Bangladesh. She made the request when she had a meeting with Chinese Ambassador to Bangladesh Zhang Zuo at her office. According to media reports, the Premier once again expressed her firm stance over the Rohingya issue, saying that the displaced people have to go back to their homeland. In a related development, she also said Bangladesh’s security and stability may be hampered if the Rohingya refugees cannot be repatriated to Myanmar soon. She also slammed Myanmar for making excuses for delaying repatriation of the refugees though it signed three pacts with Bangladesh, pledging to complete the repatriation process within two years.

Govt to create 150 million jobs in 5 years

The government has taken an initiative to create 150 million jobs in the next five years to ensure employment for every eligible youth in the country. As part of the plan, as many as 100 economic zones, which were under construction across the country, would create immense opportunities for jobseekers. Such plans stand out as a testament to the government’s renewed commitment to transform the course of national progress, as envisaged by the Honourable Prime Minister Sheikh Hasina. In addition to this, a new horizon has been opened up for the countrymen to work abroad.

Awami League celebrates 70th founding anniversary

Bangladesh Awami League, under the prudent leadership of HPM Sheikh Hasina, has celebrated its 70th founding anniversary with the target to turn the country into a peaceful one by establishing good governance and balanced development. In its 70-year-long glorious history, the party gave leadership in the 1952 Language Movement and the 1971 War of Liberation, and fought successfully against exploitation, disparity and violation of basic human rights with a massive public support.

BIDA, BEZA open One Stop Service

Two major investment facilitating organizations, Bangladesh Investment Development Authority (BIDA) and Bangladesh Economic Zones Authority (BEZA) have kicked off One Stop Service (OSS) to entertain queries of the entrepreneurs. As the government is widely focusing on attracting huge volume of investment — both foreign direct investment and local investment — the full operation of OSS would help the investors start business in Bangladesh. Top officials of the government agencies, according to media reports, expressed hope that OSS would ease the difficulties of entrepreneurs and would ultimately help improve the ease of doing business index of Bangladesh.

Incentive to boost remittance transfer thru banks

The government’s move to provide cash incentive on remittance transactions through the legal channel will lead a good amount of capital injection into the banking sector which has been experiencing capital shortfall in recent times, economists opined. Besides, the move has also created enthusiasm among the expatriates, a major contributor to the country’s foreign exchange reserve of $31.3 billion. In the July-April period of the current fiscal year, Bangladeshi expatriates sent $13.30 billion, which was 10% higher than the same period of the previous fiscal year, according to central bank data.

23, Bangabandhu Avenue, Dhaka-1000. Bangladesh.

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