Foreign direct investment (FDI) in Bangladesh has not been rising due to the attitude of policymakers, media reported based on an event organized by the Policy Research Institute (PRI) in Dhaka recently.
“Policymakers seem to be anti-FDI,” said AKM Abdullah, senior financial sector specialist of the World Bank.
“Permissions from 43 organizations are needed for making investments. Attesting a copy of a document costs money. They [bureaucrats] forget about facilitating trade when they become secretaries,” said Foreign Minister AK Abdul Momen.
While cent per cent investment proposals in the United States are cleared, only three out of 100 proposals are approved in Bangladesh, he noted.
The event was organized to launch four books.