Investment proposals rise in 2022

Investment proposals in the country increased last year compared to the previous year as a result of different initiatives taken by the Bangladesh Investment Development Authority (Bida) to attract investors. 

According to Bida, the total investment proposals last year were worth around Tk46,843 crore, which was around Tk40,633 crore in 2021. In October-December last year, 303 industrial units placed around Tk32,654.7 crore investment proposals.

The latest quarterly Bida statistics shows that in October-December 2022, the amount of domestic investment proposals was worth around Tk29,008.6 crore by 268 industrial units.

On the other hand, in the same period, about Tk3,646.1 crore investment proposals were made by 35 foreign investors – 16 foreign and 19 joint ventures.

People concerned said the rise in investment proposals last year resulted from Bida's efforts to attract investment by providing various services.

Bida Executive Member Mohsina Yasmin told The Business Standard, "We are constantly trying to increase investment by extending our services. Investors can avail our services from the One Stop Service now."

She said, "Progress became slow due to the Covid-19 pandemic. But, now everything is going back to normal. We organised the International Investment Summit in 2021. After that, we arranged another investment summit. We are also constantly communicating with the investors."

On the actual implementation of the proposed investment, she said, "There is no specific rule. But as per a survey conducted in 2019, we found that 50% of the proposed investments were actually implemented."

Abul Kasem Khan, director of AK Khan & Co Ltd and trustee board member of the Business Initiative Leading Development (Build), told TBS that investment in the country will increase further once the global situation improves.

"The global investment outlook is not very positive in the current year. We are now in an uncertain world with the Ukraine-Russia war, which is a big factor. As a result, we are facing a crisis in the oil and gas sectors. The investors are taking time to invest their money due to these reasons."

According to sources, employment opportunities for more than 1.15 lakh people will be created in 303 industries (local and foreign) which registered investment proposals with the Bida from October to December 2022.

Most of the investment proposals have been registered in the service sector from local and foreign entities. Besides, a significant amount of investment proposals have been made in the printing and publishing, engineering, agriculture, and food industries.