FDI grows 19% in first year after mass uprising, defying global trends
Looking ahead, Ashik Chowdhury cautioned that FDI may experience a temporary slowdown before the upcoming national election but is expected to stabilise afterwards
Foreign Direct Investment (FDI) in Bangladesh grew by 19.13% in the year following the July 2024 mass uprising, setting the country apart from global post-uprising trends where foreign investment typically declines.
The data, compiled by the World Bank and Bangladesh Bank, was made public today (3 November) through a Facebook post by Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority (BIDA).
Presented under the title "FDI Picture Post-Mass Uprising", the figures indicate continued investor confidence in Bangladesh's economy despite the political uncertainty often seen after major movements.
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Ashik Chowdhury said the country's FDI performance stands in sharp contrast to several others that experienced political or civil unrest, reports BSS.
In their first year following instability, Sudan's FDI fell by 27.60% after 2019, Sri Lanka's by 19.49% in 2022, Chile's by 15.68% in 2019, Ukraine's by 81.21% in 2014, Egypt's by 107.55% in 2011, and Indonesia's by 161.45% in 1998.
"Bangladesh's greatest quality is its ability to bounce back despite adversities. Usually, foreign investment drops drastically in the post-mass uprising period, but we are seeing the opposite," he said.
He attributed Bangladesh's resilience to several factors, including sound economic policies, the commitment of key institutions such as the National Board of Revenue (NBR) and Bangladesh Bank, and the efforts of investment promotion agencies such as the PPP Authority, Bangladesh Economic Zones Authority, and BIDA.
He also credited the private sector's determination and the coordinated support from relevant government bodies for creating a favourable investment environment.
Looking ahead, Ashik Chowdhury cautioned that FDI may experience a temporary slowdown before the upcoming national election but is expected to stabilise afterwards.
He urged stakeholders to take a long-term view of investment prospects, noting that short-term fluctuations should not overshadow the country's overall economic recovery and potential.
He further said, "We have always tried our best to help investors. Not all problems have been solved… but there was no lack of goodwill."
He added that BIDA plans to release an annual report summarising the year's investment performance soon.
