Vol. 5 Num 1090 Mon. June 25, 2007  

Adequate infrastructure key to luring FDI
Swiss envoy expects double taxation avoidance deal with Dhaka soon

The Swiss ambassador in Dhaka has said business- and investment- friendly regulations, functioning institutions and adequate infrastructure are key to attracting more foreign direct investment (FDI) in Bangladesh.

"If conditions are promising, more Swiss investment will come to Bangladesh. Apart from the existing industrial sectors, I see good prospects for the service sector such as banking," Dr Dora Rapold told the monthly luncheon meeting of the Foreign Investors' Chamber of Commerce & Industry (Ficci) at a city hotel yesterday.

She said a double taxation avoidance agreement between Bangladesh and Switzerland is expected to be signed soon.

Over 100 companies of her country are represented in Bangladesh by themselves or by agents, which is an evidence of the Swiss business people's interests here, the Swiss envoy said, noting that trade between the two countries marked a 60 percent rise in the last three years.

Rapold suggested diversification and quality control to enhance export trade.

She said adherence to the international standard of workers' rights and social and environmental regulations are some key elements for boosting Bangladeshi exports to Switzerland and other European countries.

Ficci President Mashi-ul-Karim, Secreatry M A Matin, Amcham President Sayed Ershad Ahmed and Ficci member Rudalph P Clinck attended the function among others.

Swiss ambassador to Bangladesh Dora Rapold (2-L) speaks at a luncheon meeting in Dhaka yesterday organised by Foreign Investors' Chamber of Commerce & Industry (Ficci). Ficci President Mashi-ul-Karim (2-R) is also seen. Photo: FICCI